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A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS IN KOLAR

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Page :1 A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS PRESIDENCY
COLLEGE MBA BANGALORE UNIVERSITY Page 1 PRESIDENCY COLLEGE NAME:-NIDARSHAN REG N
O: 16YCMD135 PROJECT TITLE: - A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO
MOTORS IN KOLAR A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS PR
ESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 2 Chapter – 1 INTRODUCTION A STUDY ON
BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BANG
ALORE UNIVERSITY Page 3 INTRODUCTION Marketing is a very important part of success in business. Financi
al success often depends on marketing ability. But there can be a success only when the decisions are taken correctly
and this is not a easy job. In marketing each and every decis ion is depended upon marketing manager like what feat
ures to design into a new product, what prices to offer, where to sell the products, how much to spend on advertising
etc. Marketing mainly deals with seeing and meeting human and social needs. One of the shortest definition
s of marketing is “meeting needs profitably”. This was about only marketing but marketing management is somethin
g different from these keeping and growing customers through creating, delivering, and communicating superior cust
omer value. So companies will try to capture the market with help of this. There are lots of competitors in th
e market for each and every product but the product can make a position in market with the help of marketing strategi
es. And the main thing is that demand only then the decisions may give nice results and this will lead to brand equity
towards one company. Brand is name, term, sign, symbol, or designing, or a combination of them, intended to iden
tify the goods or services of one seller or group of seller and to differentiate them from those of competitors. And bu
ilding a strong brand requires careful planning and a good deal of long term investment. And this can be done by pro
viding good quality of products and services to the customers. SRI SAI MOTORS is a DEALERS of HERO MOTO
R CYCLE located in kolar. They have taken this dealership to satisfy the desires of customers within kolar. And till
today they have fulfilled all the desires of their customers and had made a very position in market and also have cove
red a very huge area. They are one of the very reputed dealers. They also provide a very good after sales service to t
heir customers. A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS PRESIDE
NCY COLLEGE MBA BANGALORE UNIVERSITY Page 4 The main aim of this study is to find the “Brand Equit
y” of the customers towards HERO MOTOR CYCLE. And this will also help to know how many customers are sati
1
sfied with its service and how many are not. And lastly this will highlight the future demand for HERO MOTOR C
YCLE. THEORETICAL BACKGOUND Definition:- Brand:- According to American Association brand is "a name,
term, sign, image, or configuration, are a blend of them, expected to recognize the products or administrations of one
vender or gathering of dealers and to separate from those of contenders". Brand positioning:- Brand positioning is t
hat of designing the companys offering and image to occupy a distinctive place in the mind of the target market. The
goal is to locate the brand in the minds of the consumers to maximize the potential benefit to the firm. A good brand
positioning helps to guide marketing strategy by clarifying the brands essence, what goals it helps the consumer achi
eve, and how it does so in a unique way. Brand equity:- Brand equity is the added value endowed to products and s
ervices. This value may be reflected in how consumers think, feel, and act with respect to brand, as well as the prices
, market share, and profitability that the brand commands for the firm. Brand equity is an impotent intangible asset t
hat has psychological and financial value to the firm. It can be characterized as the differential impact that brand lear
ning has on buyer reaction to the promoting of that brand. A brand is said to have positive client based brand value
when shoppers respond all the more positively to an item and the way it is promoted when the brand is distinguished
when contrasted with when it is most certainly not A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS
THE HERO MOTORS PRESIDENCY COLLEGE MBA BANGALORE U
NIVERSITY Page 5 Brand image:- It is a extensive concept, which includes all the brand associations-all that we th
ink or feel or imagine about the brand. A brand can evoke imaginary colors, sound and smell too in our mind. Bran
d personality:-. It is a broad idea which joins all the considerable and imperceptible attributes of brand, say feelings,
values, inclinations, features, interests, guarantees, and heritage. A brand identity makes it one of a kind. A brand id
entity outwardly and by and large speaks to all inner and outside attributes Brand audits: - A brand audit is a custom
er focused exercise that involves a series of procedure to assess the heath of the brand, uncover its sources of brand e
quity, and suggest ways to improve and leverage it equity. Brand inventory: - The purpose of brand inventory is to
provide a current, comprehensive profile of how all the products in services sold by a company are marketing and bra
nded items. Brand profitability:- A profitable customer is a person, house hold or company that over time yields a re
venue stream that exceeds by an accept amount the company cost stream of attracting, selling, and servicing that cust
omer. Customer profitability can be assessed individually, by marketing segment, or by channel. The role of Brand
s:- Brands identify the source or maker of a product and allow consumers-either individuals or organizations-to assig
n responsibility to responsibility to a particular manufacturer or distributor. Consumers may evaluate the identical pr
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oduct differently depending on how it is branded. Consumers learn about brands through past experiences with A S
TUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS PRESIDENCY COLLEGE M
BA BANGALORE UNIVERSITY Page 6 the product and its marketing programmed. They discover which brands f
ulfill their requirements and which ones don't. As purchasers lives turn out to be more entangled, surged, and time st
arved, the capacity of a brand to rearrange basic leadership and diminish chance is significant. Brands also perform v
2
aluable functions for firms. First, they simplify product handling on tracing. Brands help to organize inventory and
accounting records. A brand also offers the firm legal protection for unique features or aspects of the product. The br
and name can be protected through patents; and packaging can be protected through copy writes and design. These i
ntellectual property rights ensure that the firm can safely invest in the brand and reap the benefits of a valuable asset.
Scope of Branding:- How then do you “brand” a product? Although firms provide the impetus to brand creation th
rough marketing programs and other activities, ultimately a brand id something that resides in minds of consumers.
Branding is endowing products and services with the power if a brand. Branding is all about creating differences. T
o brand a products, it is necessary to teach consumers “to teach consumers „who the product is nu giving it a name an
d using other brand elements to help identify is as well as “what” the product does and “why” consumers should care.
Branding involves creating mental structures and helping consumers organize their knowledge about product and se
rvices in a way that clarifies their decision making and, is the process, provides value to the firm Building brand equi
ty:- A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS
PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 7 Marketers build brand eq
uity by creating the right brand knowledge structures with the right consumers. This process depends on all brands r
elated contacts wither marketer initiated or not. From a marketers manag prospective, however, there are three main
sets of brand equity drivers:- The initial choices for brand elements or identities making up the brand. The product
and service and accompanying marketing activities and supporting marketing programmers Other association in
directly transfers to the brand by link it to some other entity. Brand portfolios:- All brands have boundaries a brand
can only be stretches so far. Multiple brands are often necessary to perceive multiple brands segments. Any one is n
ot viewed equally favorably by all the different market segments the firm would like to target. Some other reasons fo
r introducing multiple brands UN a category include To increase shelf presents and retailers dependent in the store
To attract consumers seeking variety who may otherwise have switched to another brand. To increase internal comp
etition within the firm and To yield a economies of scale in advertising, sale, merchandizing, and The brand portfol
io is the set of all brands and brand lines. A particular firm offers for sale to buyers in a particular category. Differen
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t stands may be designed and marketed to appeal to different market. A STUDY ON BRAND EQUITY OF CUSTO
MER TOWARDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 8
Chapter -2 Company profile A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTOR
S PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 9 HISTORY OF HERO Hero Honda started
its operations in 1984 as a joint venture between Hero motors (sometimes called hero Group, not to be confused with
the Hero Group food company of Switzerland) of India and Honda of Japan. In 2010, when Honda decided to move
out of the joint venture, Hero Group bought the shares held by Honda. Subsequently, in August 2011 the company w
as renamed Hero Motors with a new corporate identity. In June 2012, Hero Motors approved a proposal to merge the
investment arm of its parent Hero investme nt Pvt. Ltd. With the auto makeing. This decision came 18 months after
its split from Hero Honda. During the 1980s, the company introduced motorcycles that were popular in India for th
3
eir fuel economy and low cost. A popular advertising campaign based on the slogan „Fill it – Shut it-Forget it that e
mphasized the motorcycles fuel efficiency helped the company grow at a double-digit pace since inception. In 2001, t
he company became the largest two-wheeler manufacturing company in India and globally. It maintains global indus
try leadership to date. The technology in the bikes of Hero Motocorp (earlier Hero Honda) for almost 26 years (1984
-2010) has come from the Japanese counterpart . A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS T
HE HERO MOTORS PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 10 Termination of Hon
da joint venture By December 2010, the board of directors of the Hero Honda Group had decided to terminate the joi
nt venture between Hero Group of India and Honda of Japan in a phased manner. The Hero Group would buy out th
e 26% stake of the Honda in JV Hero Honda. Under the joint venture Hero Group could not export to international
markets (except Nepal, Bangladesh and Sri Lanka) and the termination would mean that Hero Group could now expo
rt. Since the beginning, the Hero Group rolled on their Japanese partner Honda for the technology in their bikes. No
w there are concerns that the Hero Group might not be able to sustain the performance of the joint venture by itself.
The Japanese auto maker will exit the joint venture through a series of off market transactions by giving the Munjal f
amily-which held a 26% stake in the company-an additional 26%. Honda, which also has an independent fully owne
d two-wheeler subsidiary-Honda Motorcycle and Scooter India (HMS)-will exit hero Honda at a discount and get ov
er $1 billion for its stake. The discount will be between 30% and 50% to price of the stock after the market closed on
December 16, 2010. The rising differences between the two partners gradually emerged as an irritant. Diffe rences
had been brewing for a few years before the split over a variety of issues, ranging from Hondas reluctance to fully an
d freely share technology with hero (despite a 10-year technology tie-up that expires in 2014) as well as Indian partne
rs uneasiness over high royalty payouts to the Japanese company. Another major irritant for Honda was the refusal o
f hero Honda (mainly managed by the Munjal family) to merge the companys spare parts business with hondas new f
4
ully owned subsidiary Honda Motorcycle and Scooter India (HMS). As per the arrangement, it will be a two-leg dea
l. In the first part, the Munjal family, led by Brijimohan Lal Munjal group, will form an overseas-incorporatedspecial
purpose vehicle (SPV) to buy out Honda entire stake, which will be backed by bridge loans. This SPV would eventu
ally be thrown open for private equity participation, and those in the fray include Warburg Pincus, Kohlberg Kravis
Roberts (KKR), TPG, Bain Capital, and Carlyle Group. A STUDY ON BRAND EQUITY OF CUSTOMER TOWA
RDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 11 Honda will c
ontinue to provide technology to Hero Honda motorbikes until 2014 for existing as well as future models. Sports As
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sociation Hero Motors began its association with the prestigious Indian open Golf tournament in 2005. The tournam
ent has helped catapult the popularity of golf in Ind ia. Illustrious golfers from around the world participate in this an
nual event, which boasts of the largest prize fund sanctioned solely by the Asian Tour. Hero Motors, the Indias large
st manufacturer of two- wheelers, took over title sponsorship of the world challenge Hero World Challenge Hero is c
ommitted to sponsor Hockey and promote and popularize the sport, which is popular in India (inlay after Cricket). In
2010, Hero Motors extended its support to Hockey by sponsoring the „Hockey World Cup 2010 that was held in Ind
ia. 2 years after this, Hero Motors was also the sponsor of the FIH Road to London 2012 tournament. The company
is proud to associate with, and will continue to endorse this great sport in the future. The companys association with
cricket goes a long way. Hero Motors has in the past sponsored international cricket tournaments in association with
international Cricket Council (ICC), including the cricket World Cup and the Champions Trophy. Hero has also bee
n associated with IPL. Formation of hero motors The name of the company was changed from hero Honda motors l
imited to hero motors limited on 29 July 2011 the new brand identity and logo of hero motors were developed by the
British firm Wolff loins. The logo was revealed on 9 august 2011 in London, to coincide with the third test match be
tween England and India. Hero motors can now export to Latin America, Africa and west Asia. Hero is free to use
any vendor for its components instead of just Honda approved vendor A STUDY ON BRAND EQUITY OF CUST
OMER TOWARDS THE HERO MOTORS PRESIDENCY COLLEGE MB
A BANGALORE UNIVERSITY Page 12 On 21 April 2014, hero motors announced their plan on a us dollar 40 mi
llion joint venture with Bangladeshs nitol niloy group in the next five years, also hero updated its 100cc engine range
in 2014 for 100cc bikes except hero dawn. 49% stakes in aril Buell racing In July 2013 , HMC acquired 49% shar
eholding in wrack red racing, a motorcycle sport company which produced street and racing motorcycles based in ea
st troy, Wisconsin, united stared, EBR filed for bankruptcy in 2015 and hero motors proceed to acquire certain assets
for us$ 2. 8 million. Operations Hero motor has five manufacturing facilities based at dharuhera, gurgaon, neemran,
6
Haridwar and Halol (Gujarat) under green field stage. These plants together have a production capacity of 7. 6 milli
on two wheeler per year. Hero motor has a sales and service network with over 6000 dealerships and service points a
cross India. It has a customer loyalty program since 2000, called the hero Honda passport program which is now kno
wn as hero good life program. It is reported that hero motors has five joint ventures or associate companies, Munjal s
howa, industries, sunbeam auto, rock man industries and satyam auto components that supply a majority of its comp
onents. The company has a stated aim of achieving revenues of $10 billion and volume of 10 million two wheeler b
y 2016-17, This in conjunction with new countries where they can now market their two-wheelers following the dise
ngagement from Honda. Hero motors hopes to achieve 10 per cent of their revenues from international markets and t
hey expected to launch sales in Nigeria by end 2011 or 2012. Current products Scooters A STUDY ON BRAND E
QUITY OF CUSTOMER TOWARDS THE HERO MOTORS PRESIDENC
Y COLLEGE MBA BANGALORE UNIVERSITY Page 13 Pleasure Duet Maestro edge Products HF deluxe S
plendor+ Splendor pro Splendor ismart 110 Passion pro Hunk Karizma Discontinued Hero majestic / hero pun
ch (mopeds & scooters) Hero panther 4s Hero pacer Hero gizmo Hero power Hero stallion Company perfor
mance The company has sold over 47 million 2 wheelers since its inception in 1984 till March 2013. it sold 6.07 mill
ion 2 wheeler in 2012, out of which 5. 5 million were motorcycles. Hero motors sells more two wheelers than the sec
ond, third and fourth placed two-wheeler companies put together, its most popular bike hero Honda splendor sells mo
1
re than one million units per year. A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO M
OTORS PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 14 In 2013, hero motors registered b
est ever calendar year performance of more than 6. 1 million unit sales. By selling 625,000 units in the month of Oct
ober, it became the first –ever manufacturer to cross landmark 6 Lakh unit sales in a month, in the last quarter of the
year or say in the festive season, the company sold more than 1. 6 million units, while in non festive time in April-m
ay 2013, it managed to sell out quite good numbers of units 1. 1 million. Listings and shareholding The equity shar
es of hero motors are listed on the Bombay stock exchange; it is a constituent of the BSE sensex index and were it is
a constituent of the S & P CNX nifty. As on 31 December 2013, the promoters munjal family held around 40% equi
ty shares in hero motors. Over 61,000 individual share hold approx 7. 44% of its shares foreign institutional investor
s hold approx. 30% shares in the company. Employees As on 31 march 2014, the company has 6,782 employees, o
ut of which 66 were women. . it also has approx. 13,800 temporary employees on the that date, the company has an
attrition rate of 5. 1% in the FY 2012-13, the company spent 8. 21 billion benefits during the FY 2012- 13 Awards a
nd recognition The brand trust repot published by trust research advisory has ranked hero Honda in the 7 th position
among the most trusted brands in India. It receives the „best advertising in two wheelers category at the auto India b
est brand awards 2012. Initiatives A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO M
OTORS PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY P
age 15 The company started Raman Kant munjal foundation (RKMF), in 1992 when it was known as hero Honda m
otor ltd. that looks after. Raman munjal vidya mandir Raman munjal memorial hospital BML Munjal University
During the financial year, the company spent Rs 14million on corporate social responsibility. Strengths in the SWO
T analysis of hero motors Skilled workforce High profitability and revenue Experienced business units The comp
any has unique products. (39% 29%) The industry shows a strong diversification. (29% 35%) We see high industr
y growth rates. (27% 19%) Weaknesses in the SWOT analysis of hero motors Competitive market There might be
a lack of strategic relationships. (51% 31%) Opportunities in the SWOT analysis of hero motors Growth rates and
profitability New products and services New products and services are possible. (53% 32%) Global markets are a
vailable. (36% 30%) We see global growth opportunities. (47% 27%) A STUDY ON BRAND EQUITY OF CUST
OMER TOWARDS THE HERO MOTORS PRESIDENCY COLLEGE MB
A BANGALORE UNIVERSITY Page 16 Threats in the SWOT analysis of hero motors Rising cost of raw materi
als Prices changes are possible. (44% 37%) The industry shows a growing competition. (52% 27%) Future plan
Hero motors plans to sell 1. 2 million units a year by 2020 and the company plans to develop its halol plant into an ex
port hub three motorcycles, which include achiever 150, super splendor and passion pro, will be launched in India be
fore the upcoming fest ive season. New Delhi; Indies largest two-wheeler maker hero motors ltd will launch 15 mot
orcycles across different segments for domestic and global markets in 2017-18, the company said, Three of these mot
orcycles, which include the new achiever 150, the super splendor and passion pro, will be launches in the domestic m
arket before the upcoming festive season, hero motors and its rival Honda motorcycle scooter India pvt, its are prepar
ing for a sales blitz on a huge scale ahead of the festive season, which begins with ganesh chaturthi on 25 august. A S
TUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS PRESIDENCY COLLEGE M
BA BANGALORE UNIVERSITY Page 17 The companies have been on an overdrive, stocking dealers with two-wh
eelers much ahead of a season that only peaks in October with all the key festivals- NAVARATHR, DASARA and D
IWALI –falling in that month, Hero motors, which parted ways with Honda motor co, in 2011 also plans to finish an
d start operating its new manufacturing units this fiscal year, hero motors upcoming Gujarat plant will become operat
ional in the third quarter of this fiscal, while the Bangladesh plant will begin operations in the fourth quarter of 2016-
17, the company said in a statement. The company plans to sell 1. 2 million units a year by 2020 and the company p
lans to develop its hole plant into an export hub, Bangladesh plant will be companys second manufacturing facility o
utside India after its Colombia plant became operational in august 2015. The company is also planning global launch
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es. “We have appointed a distributor in Argentina and we plan to launch brand hero in that market in early 2017. In
Nigeria, we are going to start sales very soon” pawn munjal, chairman, MD and CEO, hero motors. Hero motors sell
s its products in 24 countries including Sri lank, Nepal, Bangladesh, Egypt and turkey, as also in peruk Ecuador and
Colombia in south America, among others, in partnership with its local distributors, hero motors has also established
assembly units in Kenya, Tanzania and Uganda In east Africa, SUCCESS STORY Hero motors ltd, (formerly known
as hero Honda) is the worlds largest manufacturer of two- wheelers and is based in India. It produces and sells a ran
ge of motors and scooters and has a market share of 46% among Indian two-wheelers. The company is promoted by
the munjal brothers and listed on Indias NSE and BSE. EARLY HISTORY A STUDY ON BRAND EQUITY OF
CUSTOMER TOWARDS THE HERO MOTORS PRESIDENCY COLLEG
E MBA BANGALORE UNIVERSITY Page 18 Hero motors began its operations in 1984 as a joint venture with
Honda motors, Japan and the company was incorporated as hero Honda motors ltd. Their first product hero Honda C
D100, a fuel efficient bike was launched in 1985, in two years time, they produced 100,000 motors. Very soon they i
ntroduced „sleek, a motors model and in 1991, they produced their 500,000 th bike, in 2000, the splendor motors bec
ame the worlds largest selling two wheeler brand. HERO and Honda part ways A STUDY ON BRAND EQUITY
OF CUSTOMER TOWARDS THE HERO MOTORS PRESIDENCY COLL
EGE MBA BANGALORE UNIVERSITY Page 19 In 2010, the head Board of hero Honda decided to terminate the
agreement with Honda motors following differences of opinion. The termination process was to be executed in a ph
ased manner. Hero Group agreed to buy the 26% stake of Honda differences of opinion started a few years before th
8
e split due to Hondas refusal to provide technology free despite a 10- years tie-up that was to end only by 2014. Hon
da also refused to merge the joint venture firms spare parts deals with hero motors and scooters India ltd. FOUNDRS
AND LEADERSHIP TEAM The founder of hero group, Dr. Brijamohan Lall munjal, (1923-2015) was born un ka
malia (now part of Pakistan). He and his family relocated to Ludhiana and set up their first venture called hero cycle
9
s which made bicycles. By 1975, they became the largest bi-cycle manufacturers in India. They grew by setting up
dealer networks through family members and associates. The joint venture with Honda helped then become in the wo
1
rld. A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS PRESIDENCY COL
LEGE MBA BANGALORE UNIVERSITY Page 20 The company is presently headed by pawan munjal, chairman,
managing head director and CEO. Vikram kasbekar Director and head of operations, Dr Markul Braunsperger, chief t
echnology officer; Mr Ravi sud, senior vice-president and chief financial officer Manufacturing Facility Hero motors
has four world-class manufacturing facilities-two in Gurgaon near New Delhi, one in Haridwar in uttarakhand state,
and one in Neemrana, Rajasthan, Awards & Achievements A STUDY ON BRAND EQUITY OF CUSTOMER TO
WARDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 21 In the pa
st 25 years, it has won several awards and this year too, its products have shown an outstanding performance. Maestr
o Edge won the Overdrive scooter of the year Award, Overdrive manufacturer of the year Award, time India manufa
cturing innovator of the year award among others. Vision The story of hero began with a simple vision- the vision
of a mobile and an empowered India, powered by its motors. Hero Motors Ltd, companys new identity, reflects its c
ommitment towards providing world class mobility solutions with renewed focus on expanding companys footprint i
n the global arena. Mission Hero motors mission is to become a global enterprise fulfilling its customers needs and
aspiration for mobility, setting benchmarked in technology, styling and quality so that it converts its customers into it
s brand advocates. The company will provide an engaging environment for its people to perform to their true potenti
1
al; it will continue its focus on value creation and enduring relationships with its partnership. A STUDY ON BRAN
D EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BANGALORE
UNIVERSITY Page 22 Strategy Hero motors key start are to build robust product portfolio across categories, explor
e improve opportunities globally, continuously improve its operational efficiency, aggressively expand its reach to cu
1
stomers, continue to invest in brand building activities a ensure customer and shareholder delight. A STUDY ON B
RAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BANGAL
ORE UNIVERSITY Page 23 DEALER PROFILE SRI SAI MOTORS Introduction:- SRI SAI MOTORS is one of th
e dealers of Marti Suzuki in Karnataka. This dealership is taken in the year 2016 by Mrs. srisai who was a very well
know person. This dealership in bike was a slow starter but subsequently blossomed into a very profitable business
due to the single mined efforts, honest motives and leadership qualities of a great person was id the founder of SRI S
AI MOTORS showroom Mrs. Sri sai He has acquired dealership in KOLAR as well This is a very well known show
10
room for its service. There are totally 35 employees in the showroom working for different departments. There are
totally 3 departments. They will provide a 5 service to new customers. First service will be after 500-750 Second
service will be 3000-3500 Third service will be 6000-6500 Fourth service will be 9000-9500 Fifth 150,000 They w
ill also organize free camps for check up of bike once in a month and they are organized in all the places which are w
ithin kolar district. This is the only dealer in kolar and which able to sell about a monthly average of 30- 40 bikes mo
nthly. DAYANAND manager A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOT
ORS PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page
24 Departments There are mainly 3 different departments in showroom they are:-
Sales Department So first department is sales department, sales department is the important part of organization bec
ause without sales department sales cannot be increased. So here in sales department there ar
e totally 5 employees. One is the sales manager and eight are direct sales executives. Who help out to increase the s
ales volume. Departments Sales Service Spares Sales department 1 Sales department 3 direct sales executives A
STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS
PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 25 Service department Next d
epartment is service department. This department is very necessary to fulfill the after sales service of the customers a
nd satisfy them by providing good service to them. Service department Customer care Service Customer
care manager Service manager 2 customer care executives 2-service advisor 2 Supervisors 5 technicians 3 helpers w
orkers A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS
PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 26 So here service dep
artment is divided into two different parts one is customer care department and the other one is service department. I
n customer care department there is one customer care manager and 2 customer care executives. And in service dep
artment there is 1 service manager, 2 service advisors, 2 supervisors, 5 technicians, 3 helpers, workers and PDI super
visor [pre-delivery inspection] Spares department So when we are having an administration region then it is exceptio
nally basic to have saves division additionally which will help us to know the position of stock, with the help of this
you can see which spare parts are to be ordered along with the quantity. This department is very small in this d
epartment there is only 1 spare manager and 4 workers. P D I supervisor Spares department Spare manager 4 w
orkers A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS
PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 27 CHAPTER – 3 RESE
ARCH METHODOLOGY AND RESEARCH DESIGN A STUDY ON BRAND EQUITY OF CUSTOM
ER TOWARDS THE HERO MOTORS PRESIDENCY COLLEGE MBA B
ANGALORE UNIVERSITY Page 28 TITLE OF THE STUDY A study on brand equity of customer toward the
Hero motors in kolar NEEDS FOR THE STUDY This research work helps to strengthen the brand building strategie
s for hero motor cycle and it also helps to identify diverse special exercises undertaken by Hero motor cycle. It also
helps in understanding the market strategies implemented in the Hero motor cycle and measuring the efficiency of va
rious marketing strategies at the Hero motor cycle showrooms is vital to promote brand and build brand equity amon
g customers. STATEMENT OF THE PROBLEM There are numerous Hero motor cycle showroom it todays scenar
io, it is important to analyze how Hero motor cycle serves and understands customers. The report mainly deals with t
11
he brand awareness adopted by Hero motor cycle. Is likewise considers the sentiment of the clients which was deal
with a survey, tries to explain the likes and dislikes of the customers about Hero motor cycle brands. It also deals wit
h the competition on strategy and to find how effectively Hero motor cycle automobiles can build its own strategies t
o face competition in the market. SCOPE OF THE STUDY A STUDY ON BRAND EQUITY OF CUSTOMER T
OWARDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BANG
ALORE UNIVERSITY Page 29 The study was conducted in “brand Equity of customers towards the Hero motor c
ycle in Kolar”. So the scope that I found was the brand positioning should be very good so that the customers will tr
12
y to buy the products. It is necessary to promote the models in a well manner. And the advertising should be given
more importance so as to increase the sales volume. OBJECTIVES The main objectives of conducting this survey ar
e as follows: To study the brand equity towards Hero motors To study the factors influence to purchase bike To stu
dy the attitude of customers towards brand of Hero motor To know the awareness level of customers To study the e
quity of customers towards Hero motor SAMPLING Sampling unit: this indicates who will be surveyed they are the
customers of Hero motor cycle Ltd Sample size: the sampling design is based on non probability and senses samplin
g. Sample size was fixed within kolar city. Field work: field work was carries out in kolar city by providing them wi
th questionnaire all over the area of kolar. SOURCE OF DATA There are mainly two types of data collection metho
ds they are:- 1] Primary data collection method A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS TH
E HERO MOTORS PRESIDENCY COLLEGE MBA BANGALORE UNIV
ERSITY Page 30 2] Secondary data collection method PRIMARY DATA: The essential information was gathered
7
by individual meeting upheld by an organized poll from the objective client. Alternate strategies for essential inform
ation gathering were not utilized. .SECONDARY DATA: The secondary data was collected through internal and ext
ernal sources. The data required for the survey was primary in nature. The situation demanded total collection of ne
w data so as to arrive at genuine conclusion and thereby suggest a practical solution. The data for the survey were co
13
llected from the respective customers of SRI SAI MOTORS. And the questionnaire method was used to obtain the
primary data. The questions were prepared as regarding to the brand Equity towards Hero motors India Ltd. There ar
e also open ended close ended questions in that. LIMITATION OF THE STUDY The analysis or the study of the
project was not satisfactory due to the following limitation in the study:- Some of the information was not disclosed
it was hidden There was lack of time which was the main limiting factor •The investigation was basically in view of
client answers as the answers as the answers were altogether different so there was trouble in finding the outcomes.
TOOLS FOR DATA COLLECTION PLANE OF ANALYSING Analysis will be based on
the information given by companys marketing department and information collected through questionnaires from the
respondents. The data will be analyzed both quantitatively and qualitatively. Simple quantitative techniques like me
an, percentage will be used. The aftereffect of the information gathered will be exhibited utilizing graphical tolls like
bar outlines and pie charts A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS
PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 31
CHAPTER-4 Data Analysis and interpretation A STUDY ON BRAND EQUITY OF CUSTOMER TOW
ARDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BANGAL
ORE UNIVERSITY Page 32 ANALYSIS AND INTERPRTATION OF DATA Table 4. 1 Age wise classifica
tion of respondents Age groups No of respondents Percentage 18-30 41 41% 30-42 35 35% 42-54 23 2
3% Above 50 1 1% Total 100 100% A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE H
ERO MOTORS PRESIDENCY COLLEGE MBA BANGALORE UNIVER
SITY Page 33 41 percent respondents which is maximum category are in the age of 18-30 next is the category of 30
-42 age which account of 35 %. 23% comes in category of 42-54. 1 Age wise classification of respondents 0 5 10
15 20 25 30 35 40 45 18-30 30-42 42-54 54 above No of respondent age groupA STUDY ON BRAND EQUITY OF
CUSTOMER TOWARDS THE HERO MOTORS PRESIDENCY COLLEG
E MBA BANGALORE UNIVERSITY Page 34 Interpretation From the above table, it was found that 41 percent re
spondents were under the age group of 18-30 years, 35 percent respondents were under the age group of 30-42 years,
23 percent respondents were under the age group of 42-54 years & 1 percent respondents were under the age group o
f above 54 years. 2:- Gender wise classification of respondents Gender No. of respondents Percentage Male 79
 79% Female 21 21% Total 100 100% Major no of respondents are from male category. Male dominates this c
ategory of around 79%. A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS PR
ESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 35 Graph 4. 2:- Gender wise classification of res
pondents 79 21 Gender Male femaleA STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO M
OTORS PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 36 Interpretation From the above tab
le, it was found that 79 percent respondents were male and 21 percent respondents were female. 3:- Qualification wis
e classification of respondents Qualification No. of respondents Percentage Under graduate 27 27% Graduate 25
25% Post-graduate 22 22% Others 26 26% Total 100 100% A STUDY ON BRAND EQUITY OF CUSTOMER T
OWARDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BANG
ALORE UNIVERSITY Page 37 Education wise, each category are equally distributed approximately. Undergradu
ate slightly dominate other categories. 3:- Qualification wise classification of respondents A STUDY ON BRAND E
QUITY OF CUSTOMER TOWARDS THE HERO MOTORS PRESIDENC
Y COLLEGE MBA BANGALORE UNIVERSITY Page 38 Interpretation From the above table, it was found that
27 percent respondents were under graduates, 26 percent respondents were others & 25 percent respondents were gr
aduate and 22 percent respondents were post graduate. 4 0 5 10 15 20 25 30 under graduate graduate post graduate ot
her qualificationA STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS
PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 39 Occupation
wise classification of respondents Occupation No. of respondents Percentage Business man 41 41% Professional
29 29% Agriculture 23 23% Student 07 07% Total 100 100% Occupation wise there is clear difference in categori
es, where business owned people dominate the table with 41% Next comes professional people 29, Agriculture peopl
e comes third with 23%. Students are Minimum in category with 7%. A STUDY ON BRAND EQUITY OF CUSTO
MER TOWARDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 40
Graph 4. 4 Occupation wise classification of respondents Interpretation From the above table, it was found that 41 pe
rcent respondents were business man, 29 percent respondents were professional and 23 percent respondents were agri
culturist, 7 percent respondents were student. 0 5 10 15 20 25 30 35 40 45 Business man professional agriculture
student Occupation A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS
PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 41 Table
4. 5:- Annual income wise classification of respondents Income per annum No. of respondents Percentage Less tha
n Rs. 50,000-100,000 33 33% RS, 100,000-2,00,000 34 34% Above 2,00,00 07 07% Total 100 100 Here people in t
he range of 50,000 – 2lakh dominate with 67% combined, respondents less than 50,000 comes in the range of 26%, a
bove 2lakh are minimum with 7% opting for other bike than hero motors. A STUDY ON BRAND EQUITY OF CU
STOMER TOWARDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Pag
e 42 Graph 4. 5 Annual income wise classification of respondents Interpretation From the above graph, it was found t
hat 34% respondents were under the income group of Rs, 100,000-200,000, 33% respondents were under the income
group of Rs, 50,000-100,000, 26% respondents were under the income group of less than Rs, 50,000 & 07% respond
ents 26 33 34 7 annual income less than 50,000 50,000-100,00 100,000-200,000 above 200,00A STUDY ON BRAN
D EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BANGALORE
UNIVERSITY Page 43 Table 4. 6 Respondents recommend to their friends / relatives to purchase hero motors Opin
ion No. of respondents Percentage Yes 68 68% NO 32 32% Total 100 100% People recommending this bike accou
nts for 68% rest go against the choice. A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO
MOTORS PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 44 Graph 4. 6 Respondents recom
mend to their friends/ relatives to purchase hero motors Interpretation From the above table it was found that 68 % re
spondents were recommending to their friends to purchase hero motor bike 32% respondents were not recommendin
g to their friend /relatives to purchase hero motors. 32 68 Recommend no yesA STUDY ON BRAND EQUITY OF
CUSTOMER TOWARDS THE HERO MOTORS PRESIDENCY COLLEG
E MBA BANGALORE UNIVERSITY Page 45 Table 4. 7:- Respondents were using different bike Brand of
bike No, of respondents Percentage Hero 61 61% Bajaj 12 12% Yamaha 18 18% Royal Enfield 07 07% Other 02 02
% Total 100 100% Her as we see major player if hero motors with around 61% market share, Bajaj & Yamaha come
s next with 12 & 18 percent respectively, Royal Enfield with 7%. A STUDY ON BRAND EQUITY OF CUSTOME
R TOWARDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 46 Gra
ph 4. 7 Respondents were using different bikes 0 10 20 30 40 50 60 70 hero bajaj yamaha Royal Enfield others Brand
users Series 1A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS PRESIDEN
CY COLLEGE MBA BANGALORE UNIVERSITY Page 47 Interpretation From the above table, it was found that
61 percent respondents were using hero motors, 18 percent respondents were using Bajaj, 12 percent respondents wer
e using Yamaha, 07 percent respondents were using Royal Enfield, 02 % other respondents. 8 The user with a differe
nt model hero motors Model number Respondents Percentage HF Deluxe 30% 30% Splendor plus 22 22% Splendor
pro 15 15% Passion pro 20 20% Others 13 13% Total 100 100% A STUDY ON BRAND EQUITY OF CUSTOME
R TOWARDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BA
NGALORE UNIVERSITY Page 48 HF Deluxe is the main layer in this data analysis. Splendor plus and splendor p
ro come with 22 & 15 percent comes next respectively. 8 The user with a different model Hero motors A STUDY O
N BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS
PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 49 Interpretation From the previous table f
ound in 100 respondents, 22 percent of respondents were using splendor plus, 20 percent of respondents have used pa
ssion pro, 15 splendor pro respondents, HF deluxe 30 percent of respondents, 13 percent of respondents were using o
ther kind of brands. 0 5 10 15 20 25 30 35 HF delux splendor plus splendor pro passion pro others Models Serie
s 1A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS
PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 50 Table 4. 9 Source of awar
eness Sources No, of respondents Percentage Friends & relatives 43 43% Television ads 43 43% Print media 11
11% Others 03 03% Total 100 100% Friends & television sources for advertising both accounting for 43% each, p
rint media of 11% comes next, others total up to 3%. A STUDY ON BRAND EQUITY OF CUSTOMER TOWARD
S THE HERO MOTORS PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 51 Graph 4. 9 Sourc
e of awareness Interpretation From the above table, it was found that 43 percent respondents source of awareness was
friends, relatives and television ads, 11 percent respondents source of awareness was print media and 03 percent resp
ondents source of awareness was others. 2 source friends & relatives television print media othersA STUDY ON BR
AND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS PRES
IDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 52 Table 4. 10:- Why buy hero motors Reason N
o of respondents Percentage Brand image 21 21% Price 28 28% Fuel economy 26 26% Speed 08 08% Other contact
s 17 17% Total 100 100% Price & fuel economy ate the main factors with 28% & 26% respectively next narrowly c
omes brand image with 21%, other contacts account up to 17%. A STUDY ON BRAND EQUITY OF CUSTOMER
TOWARDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 53 Figur
e 4. 10 Reason for buying a hero motors Interpretation From the above table, it is found that 8 percent of respondents
indicating why buy hero motors is speed, 21 percent of respondents indicating why buy hero motors branding, 26 pe
rcent of respondents indicating why buy hero motors fuel economy, 28 percent of respondents indicating why buy he
ro motors bike is price and 17 percent of respondents indicating why buy hero motors bike has been others. 0 5 10 1
5 20 25 30 brand image price fuel Economy speed others ReasonsA STUDY ON BRAND EQUITY OF CUSTOME
R TOWARDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BA
NGALORE UNIVERSITY Page 54 Table 4. 11 No of kilometers traveling per day Kilometers No of responde
nts Percentage Less than 10 KMS 17 17% 10-20 KMS 27 27% 20-30 KMS 29 29% 30-40 KMS 17 17% 40 & abov
e 10 10% Total 100 100% Average of above numerical data is 20 No of respondents. Maximum No of respondents
fall in range of 20-30 KMS 29 percent, minimum number of commuters come in the category of more than 40 KMS (
approx, 10 percent) of daily routine, commuters of daily travel of 10-20 KMS is of 27 percent slightly more than aver
age, 17 commuters come in range of 30-40 which is very near to average. A STUDY ON BRAND EQUITY OF CU
STOMER TOWARDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Pag
e 55 Graph 4. 11 No of kilometers traveling per day Interpretation From the above table, it was found that 29 percent
respondents were traveling 20-30 KMS per day, 27 percent respondents were traveling 10-20 KMS per day, 17 perce
nt 0 5 10 15 20 25 30 35 40 and above 30-40 km 20-30 km 10-20 km less than 10 km k m per day A STUDY ON BR
AND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BANGALO
RE UNIVERSITY Page 56 respondents were traveling less than 20 KMS per day, 17 percent respondents were travel
ing 30-40 KMS per day and 10 percent respondents were traveling less than 40 above KMS per day. 12 Purpose of o
wning bike Purpose No of respondents Percentage Business 44 44% Family purpose 28 28% Professional visits 22
22% Others 06 06% total 100 100% Average of above data is 25 owners. Maximum no of owners of 44% to busine
ss related purpose. Next Comes the category of consumers who own for family reasons in range of 28 percent. 6 pe
rcent of people fall in the range of unspecified reasons. A STUDY ON BRAND EQUITY OF CUSTOMER TOWA
RDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 57 Graph 4. 12:
Purpose of owning bike Interpretation 0 5 10 15 20 25 30 35 40 45 50 business family purpose professinal visits othe
rs purposeA STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS PRESIDENCY
COLLEGE MBA BANGALORE UNIVERSITY Page 58 From the above table it was found that 44 percent respond
ents purpose of owning bike was business, 28 percent respondents purpose of owning bike was for family purpose, 2
2 percent respondents of owning bike was for professional visits and 06 percent respondents purpose of owning bike
was for others. 13 Opinion towards price of hero motor bike was reasonable Option No of respondents Percentage
Yes 63 63% No 37 37% Total 100 100% In this table is related to price of hero motors bike here 63 percent of peopl
e respondents highly positive and negative is 37 percent. A STUDY ON BRAND EQUITY OF CUSTOMER TOWA
RDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 59 Graph 4. 13
Opinion towards price of hero motors bike was reasonable A STUDY ON BRAND EQUITY OF CUSTOMER TO
WARDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 60 Interpret
ation From the above table it was found that 63 percent respondents opined that price of hero bike was reasonable an
d 37 percent respondents opined that price of hero motors bike was not reasonable. 14 8.2 37 price Reasonble yes no
A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS
PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 61 Factors influence to purchas
e hero motor bikes Reason No of respondents Percentage Brand image 32 32% Low maintenance 10 10% Availabili
ty of spare parts 12 12% An affordable price 30 30% Others 16 16% Total 100 100% Brand image and affordable p
rice are the major factors to purchase hero motor bikes of 32% & 30% respectively. Next are the factors of low main
tenance & an availability of spare parts of 10 & 12 percent respectively. Other unspecified reasons account for 6 per
cent. A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS PRESIDENCY COL
LEGE MBA BANGALORE UNIVERSITY Page 62 Graph 4. 14 Factors influence to purchase hero motor bike Inter
pretation From the above table, it is found that 32 percent of respondents factors influence purchase hero motor bikes
branding, 12 percent of respondents factors influence purchase hero motors is available spare parts, 30 percent pr res
pondents factors influence purchase hero motors bike a reasonable price and 10 percent of respondents factors influe
nce purchase hero motor bike low-maintenance fees and 16 percent of respondents factors influence purchase hero m
otor bike other reasons. 0 5 10 15 20 25 30 35 brand image low maintenance avilability of spare parts reasonable
price others reasonsA STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS
PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 63 Table 4
. 15:- Satisfaction of the service by the Sri Sai motors Opinion No of respondents Percentage Yes 68 68% No 32 32
% Total 100 100% A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS
PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 64
Graph 4. 15:- Satisfaction of the service by the Sri Sai motors Interpretation From the above table it was found that,
68 percent were satisfied with service of Sri Sai MOTORS and 32 percent respondents were not satisfied with servic
e of Sri Sai MOTORS. 68 32 Satisfacation by sri sai motors yes NoA STUDY ON BRAND EQUITY OF CUST
OMER TOWARDS THE HERO MOTORS PRESIDENCY COLLEGE MB
A BANGALORE UNIVERSITY Page 65 Table 4. 16:- Opinion towards performance of hero motors Rating No
of respondents Ratings Actual score Fully satisfied 33 4 132 Satisfied 50 3 150 Not satisfied 10 2 20 Totally not sati
sfied 07 01 07 Total 100 309 Interpretation Consumers are generally satisfied who account for account o f 83 perce
nt of total consumers Even total of 282 out of 309 ratings account for satisfaction. In the same way 17 percent accou
nt for not satisfied consumers. A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTO
RS PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 66 Graph 4. 16 Opinion towards performa
nce of hero motor bike From the above table 77. 25% 0 10 20 30 40 50 60 fully satisfied satisfied not satisfied tota
lly not satisfied RatingA STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS
PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 67 Ta
ble 4. 17 Which bike you prefer other than hero motor bike Brands No of respondents Percentage Bajaj 15 15% Ya
maha 30 30% Honda 30 30% TVS sport 15 15% Others 10 10% Total 100 100% Consumers who dont opt for hero
motors bike next opts for Honda and Yamaha of both 30%, which are major choices. Next are Bajaj and TVs sports,
both accounts for 15% respectively. Others account for 10 percent. A STUDY ON BRAND EQUITY OF CUSTOM
ER TOWARDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 68 G
raph 4. 17 Which bike brand you prefer other than Hero Interpretation From the above table it was found that out of 1
00 percent respondents, 15 percent respondents were prefer of Bajaj. 30 percent respondents were aware of Yamaha
and Honda, 15 percent respondents were aware of TVs sports. And 10 percent respondents were aware of others resp
ectively. 0 5 10 15 20 25 30 35 bajaj yamaha honda tvs sport other Brand awarnessA STUDY ON BRAND EQUIT
Y OF CUSTOMER TOWARDS THE HERO MOTORS PRESIDENCY CO
LLEGE MBA BANGALORE UNIVERSITY Page 69 CHAPTER – 5 SUMMARY OF FINDINGS, SUGG
ESION AND CONCLUSION A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOT
ORS PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY Page
70 FINDINGS, CONCLUSION AND SUGGESTIONS 5. 1 From the study it was found that Majority of the
respondents belonged to the age group of 18-30 years. Only 1% comes under the age group above 50. The number
of Male respondents is more compared to female respondents are more compared to female respondents. Most of th
e customer of hero motors bike falls under the category of business man which contributes to 41 %. Professionals 29
%, agriculture 23% and only 7% students. 5 it is revealed that 34 % of the respondents belong to the income group R
s, 150,000-200,000. Most of the respondents knew about the brand from their friends and relatives 43% and through
television ads 43%. Maximum no of respondents fall in range of 20-30kms (29%), minimum number of commuters
come in the category of more than 40kms (approx. 10%) of daily routine. commuters of daily travel of 10-20kms ar
e of 27 percent slightly more than average, 17 commuters come in range of 30-40 which is very near to average. A S
TUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS PRESIDENCY COLLEGE M
BA BANGALORE UNIVERSITY Page 71 Brand image and affordable price are the major factors to purchase hero
motors of 32 percent and 30 percent respectively. Next are the factors of low maintenance and an availability of spar
e Parts of 10 and 12 percent respectively, other unspecified reasons account for 6 percent. 32% respondents were u
nsatisfied with the service given by the dealers. Consumers are generally satisfied who account for account of 83 p
ercent to total consumer. Even total of 282 out of 309 ratings account for satisfaction. 77.25% respondents were full
y satisfied with the performance of hero motor bike. Friends/family recommendation to purchase respondents are 63
percent, Price and fuel economy are the main factors with 28% and 26% respectively, next narrowly comes brand i
mage with 21%, other contacts account up to 17%. 5.2 CONCLUSION The study shows that hero motor bike bra
nd has a excellent level of awareness among the customers which is subsequently resulting as a tool for creation of br
and equity regarding hero motor brand among potential customers. It was observed that hero motors is gaining popu
larity among more customers, therefore hero motor should concentrate on maintaining attractive advertisement and s
chemes. Hence dealers and company should join to ensure that the customers and prospects especially the customers
have a favorable awareness level of its brand which kick starts the buying decision making process. In kolar maxim
um market segment belongs to hero motors and should implements some strong strategy for gaining higher marker sh
are and brand equity. A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS PRES
IDENCY COLLEGE MBA BANGALORE UNIVERSITY Page 72 5. 3 SUGGESTIONS They have to manufacture
such bike which are affordable by lower class people Hero motors more focus on business man, they have a necessa
ry on attract other peoples like a professional, agriculture, students etc. Manufacture minimum price bike Improve
ment is needed in respect of good efficiency, good average, comfort, reasonable price. Proved good service improve
s a customer satisfaction level. The design of this bike should be improved. Splendor pro is least bought in the kol
ar area. More advertisement and other sales promotion activities are very essential to make people aware of this prod
uct. Hero motors shall try to supply the off bike accessories while purchasing a new bike Maximum level of custo
mers not satisfied dealers service should improve the service and supply chain. A STUDY ON BRAND EQUITY OF
CUSTOMER TOWARDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BANGALORE UNIVERSITY
Page 73 Even company can focus more on luxurious SUV so that people of high income groups instead of other lux
urious brand bike. A STUDY ON BRAND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS PRESID
ENCY COLLEGE MBA BANGALORE UNIVERSITY Page 74 ANNEXURE: 6 A STUDY ON BRAND EQUITY
OF CUSTOMER TOWARDS THE HERO MOTORS PRESIDENCY COLLEGE MBA BANGALORE UNIVERSI
TY Page 75 QUESTIONNAIRES A Study on Brand Equity of customers towards the Hero motors (In Kolar) Name
1. Age a. 18-30 b. graduate b. Post graduate d. 50,000-100,000 b. 100.000-150,00 d, 150,000-200,000 6. Do you re
commend to your friends/ relatives to purchase hero motors products? a. No A STUDY ON BRAND EQUITY OF
CUSTOMER TOWARDS THE HERO MOTORS PRESIDENCY COLLEG
E MBA BANGALORE UNIVERSITY Page 76 7. Which brands bike so you own? a. Others 8. How many brands
of hero motors are you aware of? a. passion pro c. Others 9. From what source did you come to know about Hero
motors? a. How is the main reason for purchasing hero motors a. How many KMS do you travel every day?
a. Less than 10 Kms b. for what reason do you use the bike? a. others A STUDY ON BRAND EQ
UITY OF CUSTOMER TOWARDS THE HERO MOTORS PRESIDENCY
COLLEGE MBA BANGALORE UNIVERSITY Page 77 13. Do you think the cost of the bike is reasonable?
a. Which factor Influence you to purchase this brand? a. Availability of spare parts d. Are you sat
isfied with the service of Sri Sai motors? a. Which you satisfied with the performance of hero motors bike ple
ase rate it? a. Which brands of bike are you aware of? a. Others A STUDY ON BRA
ND EQUITY OF CUSTOMER TOWARDS THE HERO MOTORS PRESI
DENCY COLLEGE MBA BANGALORE UNIVERSITY Page 78 BIBLIOGRAPHY: 7 1] MARKE
TING PRINCIPLES AUTHOR:- PHILIP KOTLER 2] COMPANY PROFILE OF HERO MOTORS COMPANY
3] WWW.
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