SURVEY PROJECT

ON

MARKETING STRATEGIES & CONSUMER BEHAVIOR STUDY

OF “MAHINDRA BOLERO”

UNDER THE SUPERVISION OF

PROF. ABDUL AZIZ ANSARI

DEPT. OF COMMERCE AND BUSINESS STUDIES

JAMIA MILLIA ISLAMIA

2012-2015

SUBMITTED BY:

ARBA KHAN

B.COM (HONS.) 6TH SEMESTER

12BCM0010

DECLARATION

I, Arba Khan, a student of B.com(h) 6th semester, in the Department of Commerce and Business Studies, Jamia Millia Islamia, new Delhi, hereby declares that I have undergone the survey for “Marketing Strategies and Consumer Behavior Study of Mahindra Bolero” under the supervision of Prof. Abdul Aziz Ansari.

I also declare that the content of this project survey report has not been submitted to any other university or institution either in part or in full for the award of any degree, diploma or fellowship.

Further, I assign the right to the university, subject to the permission from the organization concerned, to use the information and contents of this project to develop cases, case lets, case leads and papers for publication and/or for use teaching.

Place: New Delhi (ARBA KHAN)

ACKNOWLEDGEMENT

"I have taken efforts in this project. However, it would not have been possible without the kind support and help of many individuals and organizations. I would like to extend my sincere thanks to all of them.

I am highly indebted to Prof. A. A. Ansari for his guidance and constant supervision as well as for providing necessary information regarding the project & also for their support in completing the project.

I would like to express my gratitude towards the members of Koncept Mahindra and respondents for their kind co-operation and encouragement which help me in completion of this project.

I would like to express my special gratitude and thanks to industry persons for giving me such attention and time.

My thanks and appreciations also go to my colleagues in developing the project and people who have willingly helped me out with their abilities."

CERTIFICATE

This is to certify that MS. Arba Khan, a student of B.Com(hons.)

6th semester, Jamia Millia Islamia has successfully completed

her project at Mahindra & Mahindra for finding out their

marketing strategies and consumer behavior on their product

Bolero. The title of the project done by her was “Market

Strategies and Customer Behavior study on Mahindra Bolero”.

During this project she worked sincerely & effectively to

achieve the objectives of the project.

We wish her all the best & success for her future endeavors.

Date: _______________

CONTENTS

SYNOPSIS

RESEARCH METHODOLOGY

EXECUTIVE SUMMARY

ABOUT MAHINDRA BOLERO

ABOUT THE DEALER

PART 1- MARKETING STRATEGIES

PART 2- CONSUMER BAHAVIOR STUDY

FINDINGS

RECOMMENDATIONS

BIBLIOGRAPHY

ANNEXTURE

SYNOPSIS

The objective of this study is divided into two main parts:

1. To find out about the marketing strategies used by Mahindra in promoting its SUV-Bolero.

2. To get knowledge about the customer behavior regarding Mahindra Bolero.

Mahindra Bolero is chosen as the subject because it was the No. 1 SUV for 6 years in row. The product is so popular and liked by the consumers that it attracted attention towards itself for knowing the reasons for its unrivalled success.

For the purpose of this study the data was collected by meeting the dealer personally for knowing about their marketing strategies. For finding out the consumer behavior, questionnaires were prepared and respondents were asked to fill the questionnaires.

Apart from the primary data collected from above sources, data was also taken into consideration which was collected from secondary sources like websites, automobile magazines, books and newspapers.

The areas of excellence and improvement have been identified based on factual information, in light of which recommendations and suggestions have been provided for the overall improvement of the organization in the future.

The information collected through questionnaires has been depicted using statistical tools like bar graphs, pie charts to represent the information in a presentable manner.

PART 1: it deals with the management as it involves knowing about marketing strategies of the management. The information is collected through dealers and other secondary sources.

PART 2: It deals with study of consumer behavior study. The information is collected through the use of questionnaires and concluding the results as to how consumer behave in relation of this product

FINDINGS AND SUGGESTIONS: It includes deductions made from the study done in both the parts. What did we find from the study and what are our recommendations for filling the loopholes of the product.

RESEARCH METHODOLOGY

For carrying out this research, the data was collected from both the sources and to represent the data the use of charts is done.

The data was collected in following ways:

Primary Sources: under this, the sources that are used are direct information taken by the staff and the information based on questionnaires.

Secondary source: sources such as data from internet, magazine, company’s website, newspapers and books have been used.

The sample size for filling up the questionnaires was 50. Sample was randomly selected.

The information collected through questionnaires has been depicted using statistical tools like bar graphs, pie charts to represent the information in a presentable manner.

The areas of excellence and improvement have been identified based on factual information, in light of which recommendations and suggestions have been provided for the overall improvement of the organization in the future.

EXECUTIVE SUMMARY

Mahindra and an independent India began their rise together. In 1945, two enterprising brothers named J.C. Mahindra and K.C. Mahindra joined forces with Ghulam Mohammed and started Mahindra & Mohammed as a steel company in Mumbai. Two years later, India won its independence, Ghulam Mohammed left the company to become Pakistan’s first finance minister, and the Mahindra brothers ignited the company's enduring growth with their decision to manufacture Willys jeeps under license in Mumbai. The company’s new name - Mahindra & Mahindra, of course. The Mahindra brothers believed that new modes of transportation could be a key to India’s prosperity, so one of their first goals was to build rugged, simple vehicles capable of tackling the Indian terrain. Early pioneers of globalization, the brothers collaborated with a wide range of international companies and before long, Mahindra’s reach extended to steel, tractors, telecom, and more. Now, after more than six decades, Mahindra has grown from a humble local outfit to a US $16.5 billion corporation employing more than 200,000 people around the world. It’s been quite an adventure so far, and we’re proud of our global leadership in utility vehicles, tractors, and information technology, as well as our significant presence in financial services, leisure and hospitality, engineering,

trade, and logistics. As we accelerate into the 21st century, we’ll continue to pursue innovative ideas that enable people to rise. We’ve come a long way, but the journey has just begun.

Founded in 1945 as a steel trading company, entered automotive manufacturing in 1947 to bring the iconic Willys Jeep onto Indian roads. Over the years, they’ve diversified into many new businesses in order to better meet the needs of our customers. They follow a unique business model of creating empowered companies that enjoy the best of entrepreneurial independence and Group-wide synergies. This principle has led our growth into a US $16.5 billion multinational group with more than 200,000 employees in over 100 countries across the globe. Today, Mahindra’s operations span 18 key industries that form the foundation of every modern economy:

1. Aerospace2. Aftermarket3. Agribusiness 4. Automotive5. components6. construction equipment7. consulting services 8. defense 9. energy 10.farm equipment11.finance and insurance12.industrial equipment13.information technology14.leisure and hospitality 15.logistics 16.real estate17.retail18.Two wheeler

ABOUT MAHINDRA & MAHINDRATYPE Public CompanyFOUNDED 1945HEADQUARTERS Mumbai, IndiaKEY PERSONNEL Chairman and MD- Anand G Mahindra

Company Secretary- Narayan ShankarINDUSTRY Automotive Farm EquipmentREVENUE(2014-15) Rs 40,508.50croreWEBSITE www.mahindra.com

MAHINDRA BOLERO

The field of study is limited to Mahindra Bolero- India’s No.1 SUV six years in a row.

Bolero proved to be a challenge for Mahindra as it was challenging the existing perception of Utility Vehicles (UVs). Because of their toughness, the common perception is that UVs lack comfort and style. With the Bolero, Mahindra strived to deliver the ruggedness people expect in a UV with the driving pleasure of a car, answering the need for function with style.

The new Bolero isn't just an SUV. It's a feature-rich, adrenaline pumping driving experience. Combining advancements like the new m2DiCR engine, Micro Hybrid technology (available only in ZLX-BS4) and Voice Messaging System with masculine exteriors and comfortable interiors including an advanced digital display, the Bolero has everything you need to take on any road the country has to offer. Choose from the exciting range of variants that suits your requirement.

The Bolero is the first brand in the SUV/UV/MPV category to cross 50,000 units in one year and India’s leading SUV brand for two years in a row. “With its stylish appeal and rugged nature, the Mahindra Bolero has emerged as the clear favorite amongst SUV enthusiasts across the country since its launch eight years ago. The fact that it is the first brand in the SUV/UV/MPV category to notch up sales of more than 50,000 units in a single year is also a clear validation of our customer centric approach to business. Today, the Bolero is perceived as a stylish but affordable SUV which caters to different customer needs and takes on all kinds of terrain with ease,” said Mr. Vivek Nayer, Vice President – Marketing, Auto Sector, Mahindra and Mahindra Ltd.

Since its launch in June 2000, the Bolero has evolved over the years, incorporating a host of features and aesthetics which match the evolving lifestyle aspirations of Indian consumers. In 2007, M&M launched the New Bolero which offered a bold new style, greater comfort and conveniences. In January 2008, Mahindra also introduced the Bolero Special Edition, a limited edition of India’s most popular SUV with exciting new features for the young urban customer.

Mahindra bolero Mahindra & Mahindra Limited launched the second generation Bolero in March 2007. The all new sports-utility vehicle (SUV) comes with refreshed looks and style. The exteriors and interiors of the latest Bolero have been designed in way that will find appeal with the younger generation of car buyers in India. The automobile sports a host of new features, which perfectly suit the needs of Indian consumers. An off-road SUV, it delivers uncompromising fuel efficiency and commendable performance on city roads as well.

Get a sneak peek at what’s new in the tough new Bolero. Get the lowdown on how it makes your drive a never before experience.

Engine: New Mahindra Bolero is powered by 2523cc Turbo Charged DI (Direct Injection) diesel engine, which generates a power of 63.2 PS @ 3200 rpm and 18.4 kgm of torque @ 1440-1500 rpm. The 2.5L engine is much more refined than its previous model. The good, low-end torque of Bolero allows a smooth ride on gradients and bumpy roads.

Design and Comfort: Mahindra Bolero flaunts a new, sleek front grille and muscular bumper that accentuate the appearance of its fascia. The rear side appears more sophisticated, with curved clear lens taillights. Adding to the appeal of the exteriors is the well-contoured door handles. Ergonomics in the cabin of the all-new Bolero have been reworked to suit the present-day consumer's desire. Its plush bucket seats offer a greater degree of comfort to the occupants. Discover the ergonomic driver’s seat, the arm rest in the middle row or the multi-directional AC louvers. There are little touches everywhere to make your drive less of a drive and more of a pleasant journey.

Interiors: Mahindra Bolero sports a trendy dashboard and instrument cluster. The efficiency of the air conditioning system has also been improved. The audio system is integrated on the instrument panel in such a way that the controls are within easy reach of the driver. The new Mahindra Bolero comes packed with many utility spaces. There are small storage areas for various passenger needs, which are neatly tucked away in the space-efficient central console. 22 Ride and Handling New Mahindra Bolero come equipped with an advanced NGT 520 transmission, along with synchromesh gears, which allow smooth gearshifts. The automobile's front suspension is built to withstand tough road conditions, while giving its occupants utmost comfort. A combination of disc and drum brakes is used in the SUV, which facilitates smooth braking on all road conditions. The wide radial tires of Bolero ensure better road grip, safety and improved handling.

Safety: Mahindra Bolero comes equipped with anti-roll bars that help the vehicle hold to the ground even on the tightest bends. Its braking system prevents the locking of wheels on slippery roads. The new SUV also has a long wheelbase, which provides greater stability to the automobile. The other safety features of Mahindra Bolero include central locking and seat belt/door open warning.

Style: The Bolero is built solidly but that didn’t stop us from enhancing the sense of security. So we put in anti-roll bars to help hug the ground even on the tightest bends, brakes that prevent wheel locking and a seat belt/door open warning system. From the aggressive grille ornament to the muscular front fascia, low stance fender extensions, clear lens headlamps and stand out wheel arches there's a lot you can discover in the new Bolero.

Convenience: Find space for magazines or maps, slots for bottles or cans, a surprisingly large glove box to swallow anything you throw into it. There’s even a 12V charging point along with a mobile holder. So the only thing you have to think about is your destination.

Performance: The high power and high torque give the Bolero great load carrying capabilities especially over inclines. The synchromesh gears make gear

shifts and even city driving a cinch. And the unique Mahindra DI engine gives you uncompromising fuel economy too.

Variants, Price and Color: The eight variants of new Mahindra Bolero are SLX, DX, DI, XLS, XL, Sports, Invader and Camper. The SUV is available in five colors, including Apple Red, Fiery Black, Diamond White, Rocky Beige and Turf Green. The latest version of Mahindra Bolero is priced starting Rs. 7, 30,740.

About the Dealer

Koncept Automobiles Pvt. Ltd.

Address: 52, Ring Road Part 3, Lajpat Nagar, New Delhi

Koncept are leading Mahindra and Mahindra car dealers with multiple showrooms, service stations and workshops across Noida and New Delhi. They have conveniently located Mahindra car showrooms at Safdarjung, Lajpat Nagar in New Delhi and Gautam Budh Nagar, Noida & G. Noida in Noida. Noida outlet offers 3 S facilities and the experience of a world-class automobile showroom. Well-equipped workshops are based at Okhla, New Delhi and Noida.

Koncept Automobiles Private Limited is a subsidiary of M/s Rajesh Motors and was founded and appointed as a dealer of Mahindra & Mahindra Limited for their Personal & Prosper channel in May 2007. M/s. Rajesh Motors was by initially established by Mr. Subhash Chand Kher and continues to be managed by the well-known Kher Family in New Delhi & NCR.

Delivering quality service to all our customers and ensuring utmost customer satisfaction has been the founding values of their automotive businesses and they relentlessly strive to maintain these values which make us the best at what we do. They have been recognized as the New Delhi/NCR Personal & Prosper channel for Mahindra & Mahindra Limited for three years in a row 2008-09, 2007-08 & 2006-07.

All their sales and service outlets are manned by 100% Mahindra trained personnel to ensure that we offer only the best quality service at all times.

They make buying and selling cars completely satisfying, hassle-free and simple by offering dedicated test drives of vehicles, attractive finance deals with all nationalized & leading private sector banks, Exchange facility that guarantees the best prices for old cars, and near-cashless facility for smooth insurance claims.

PART-1RESEARCH ON

MAKETING TECHNIQUES USED

PREREQUISITES

OBJECTIVE:

Main objective of this study is to find out the methods and tools in promoting Mahindra Bolero among the customers and to analyze whether they are successful in marketing it.

Data collection:

The data related to the marketing strategies and promotional activities used by Koncept automobiles is collected through the following sources:

1. Primary Source (Management)For this purposes management was contacted and personal contact was maintained so as to gain the information about the marketing tools used by them.Information was also collected through questionnaires which were distributed to the marketing and sales staff about the techniques used by them, the sample of which is enclosed on next page.

2. Secondary SourceSecondary sources such as newspapers, automobile magazines, company’s and dealer’s website were scrutinized in order to get the related information. Sources are given below:(a) BBC Topnews Magazine, India(b) www.konceptmahindra.com (c) www.mahindrabolero.com (d) Auto Flash

RESULTS OF RESEARCH

In its 10th year, the Mahindra Bolero remains the dominant market leader in the sports utility vehicle segment with a market share of 29 per cent. Since 2006-07, the brand has out-performed the passenger hard tops category with a CAGR of 23 per cent (category CAGR 7 per cent).

That’s not all. It is also the first SUV in India to surpass the 50,000 sales mark three years in a row and has become the volume leader for Mahindra and Mahindra (M&M), surpassing competitors’ brands such as the Tata Sumo and Tavera.

What is interesting is that about three-fourth of Bolero sales comes from smaller towns.

So what exactly is the key to Bolero’s (current price tag Rs 5.27-6.67 lakh) success? The answer lies in the brand positioning strategy of M&M, which has classified Bolero as an entry level and rugged sports utility vehicle and not as a tourist vehicle.

Rajesh Jejurikar, chief executive (automotive division), M&M, says “We were very careful while positioning the Bolero. We never wanted it to be classified as a tourist vehicle. The idea was to promote it as a personal vehicle complete with style and status.”

Mahindra bolero is an SUV which do not need any promotion. M&M has itself admitted that if it closes down all its dealers of Mahindra Bolero and start the distribution from its registered office in Noida then also its sales would not get affected. The features of Mahindra Bolero are so distinguishing and suitable for on-road and off-road drives that everyone is attracted towards it.

In a meeting with the sales manager at the Mahindra Showroom, it was revealed that practically they don’t have to indulge in maintaining any kind of personal sales contact in persuading them as they are all aware about the product they are going to buy already. In this era of internet and growing role of media has led the consumers to get the information about automobiles well in advance before getting top the showroom.

However, to get to the hearts of the customer and to make sure that the product gets into their notice, the marketing department takes several steps. As a management student one must be aware of various promotional techniques. These techniques are used by every businessman to promote his product same is the case with Mahindra.

The promotional strategies used by Mahindra Bolero are as follows:

Advertisement:

1. The advertisement of Mahindra Bolero were showed on air, that is, on television and internet but never on Billboards, arterials, terrains, etc. until in 2013 when it launched its rural campaign for promoting the product in rural areas. The most interesting aspect of the rural campaign is this is the first time Mahindra Bolero is captured doing its outdoor advertising/ out-of-home advertising or (OOH) duties.

2. A clutter-breaking new “Water Scooter” TV ad was developed to project excitement and energy. This was supported by a 360 degree marketing campaign involving print, interactive & on ground activities.

Link to various advertisements by Mahindra Bolero:

https://www.youtube.com/watch?v=E9gQDJXUgb0

https://www.youtube.com/watch?v=kwO3vsMRqzs

Sales Promotion:

Various sales promotion techniques are being used by the management staff of Bolero. These are discussed as follows:

1. Free test drives2. Discount given on the spot3. Coupons awarded on sale of FMCGs4. Providing free accessories 5. M&M also provides customers the option to customize the Bolero after

paying a price of around Rs 2-3 lakh over and above the purchase cost of the vehicle.

6. Gift schemes7. Free services8. Free after sale services9. Warranty claims10.Free check-up campaigns

PUBLICITY:

1. Bolero refreshAt the heart of Bolero’s success, however, is a project called ‘Bolero Refresh’ after M&M launched Mahindra Scorpio in the higher SUV segment and there was a need for a brand revitalization to extend the Bolero’s lifecycle. Under this, the company took a conscious decision to re-position and re-launch Bolero as an entry level SUV as against a plain utility vehicle. A detailed consumer research was undertaken on different usage segments of the category.

2. BrandscopeMahindra conducted a 45-day outdoor activity across more than 80 towns in five states of the country in 2013. The campaign executed by Brandscope aimed to re-establish the presence of brand Bolero Pick Up Flat Bed using

more than 180 touch points, which mostly included billboards. The total spends were Rs 70-75 lakh. This was the first time that Mahindra Bolero Pick Up Flat Bed ventured into an OOH campaign. The activation was carried out in MP, Maharashtra, Northeast India and Gujarat. Arterial roads, key junctions and large format billboards were chosen for the campaign.

Public Relations:

For maintaining good public relations and connect to the public for promotion of sales of Mahindra Bolero, the dealers organize various meetings and functions at public places and hold workshops. For example temporary outlets are organized for various queries and corporate functions are organized at college level or school level to spread awareness.

Meetings are arranged with big corporate houses in order to promote smooth functioning of various campaigns.

PART-2RESEARCH ON

CONSUMER BEHAVIOR

PREREQUISITES

Consumer Behaviour:

Consumer Behaviour is the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society. It blends elements from psychology, sociology, social anthropology, marketing and economics. It attempts to understand the decision-making processes of buyers, both individually and in groups such as how emotions affect buying behaviour. It studies characteristics of individual consumers such as demographics and behavioural variables in an attempt to understand people's wants. It also tries to assess influences on the consumer from groups such as family, friends, sports, reference groups, and society in general.

Objective of the study:

The main objective of this study is to analyze consumer behaviour in case of Mahindra Bolero in South Delhi. The other objectives are:

To know the consumer perception about the features, low maintenance cost and looks of Bolero.

To know the customer satisfaction about the safety and comfort provided by Mahindra Bolero.

To provide suggestions, for improving customer satisfaction level and company’s sales and profitability.

To know the customer satisfaction level regarding the after-sale services provided by M&M.

Data Collection:

Data is collected by the use of questionnaires. Since the study of consumer behaviour is a very complex process, questionnaire is used to get the first hand information. Other necessary conclusions are drawn on the basis of secondary data collected through magazines, internet, etc. in this way, both the important sources of data collection are used, i.e., primary source and secondary source of data collection.

*A sample questionnaire has been enclosed at last.

Sample survey is used in collection of primary data.

Sample was selected on the random basis among the age group of 20-50year old people suiting to the use of the product.

Sample size is taken by keeping in mind the necessities of the study. Sample size is of 50 respondents as they can more likely represent the population.

DATA ANALYSIS AND INTERPRETATION

BRAND AWARENESS

This section deals with analyzing that in what ratio are people aware of Mahindra Bolero i.e. to check the brand awareness of this product. The results are based on the questionnaires filled by the respondents.

TABLE 1: Awareness about brand

Awareness among people

Frequency Percentage

Yes 48 96No 2 4

DIAGRAM 1: Representation of Table 1

Brand awareness

YesNo

Analysis

The respondents were made to answer the question- “Have you heard about Mahindra Bolero?”. Out of 50 respondents, 48 were aware of the brand name and only two were unaware. This shows that Mahindra bolero is a popular product among the public as 96% of the sample were aware of the brand.

TABLE 2: Frequency of seeing or hearing about Bolero

frequency PercentageMany times 18 36Often 14 28Sometimes 14 28Never 2 4Sample size: 50

DIAGRAM 2

frequency of seeing and hearing

Many timesoftenSometimesNever

Analysis

The information depicted above is related to the frequency with which the respondents have seen the product or heard about it. As discussed in analysis1, 2 respondents have never heard or seen Mahindra Bolero. The other options- many times, often and sometimes have been selected by respondents in more or less same percentage, i.e., 18%, 14%, 14%, respectively. This study shows that a major percentage of the sample population have seen or heard about Bolero many times which depicts that Bolero is a popular SUV among the consumers.

TABLE 3: Source of information of the brand

Frequency PercentageHoardings/Newspapers 15 31.25TV/Radio 20 41.66Internet 7 14.58Family/Friends 3 6.25Others 3 6.25Sample Size: 48

DIAGRAM 3: Source of information

Source of information

HOARDINGS/NEWSPAPERSTV/RADIOINTERNETFAMILY/FRIENDSOTHERS

ANALYSIS

Since, only 48 people have heard about Bolero, the sample size is reduced to 48. Therefore results are shown on the basis of 48 respondents only. When asked about where did the respondents get the information from, 15 out of 48 have answered that they heard this from hoardings and newspapers i.e. 31.25%. 20 heard it from TV and radio forming 41.66% of sample size. 6 of them selected the option of internet i.e. 14.58% and remaining options were selected by 3 respondents equally forming 6.25%each.

The analysis of the above information reveals that most of the people have used TV/radio and newspaper/hoardings for getting the information that means this is the most important source of information for them.

Consumer Satisfaction

This section deals with the level of consumer satisfaction in relation to Mahindra Bolero, what are they satisfied with? What do they expect from Mahindra?

TABLE 4: Test Drive by Respondents

Yes 17No 31Sample Size:48

DIAGRAM 4

yes no0

5

10

15

20

25

30

35

40

45

Series 1

Analysis

When the sample was asked whether they have taken the test drive or not, only 17 out of 48 people have answered in an affirmative. 31 of them have not taken the test drive. This shows that the willingness among the people to buy Mahindra Bolero is somewhat less in South Delhi.

TABLE 5: Satisfaction towards Mahindra Bolero

level Frequency PercentageSatisfied 15 88.23Dissatisfied 2 11.77Sample size: 17

DIAGRAM 5: Satisfied towards Mahindra Bolero

satisfiedDissatisfied

Analysis

Since, only 17 respondents took the test drive the sample is limited to these 17 people only. The satisfaction level of the customers seems to be very high with 88.23% people satisfied and only 11.67% dissatisfied.

TABLE 6: Factors contributing to Customer Satisfaction

Factors Frequency PercentageLooks 6 12.5Features 4 8.3Low maintenance 23 47.9Aftersales Services 11 22.9Comfort 5 10.4Sample Size: 48

DIAGRAM 6: Factors contributing to Customer Satisfaction

Looks Features low maintenance Aftersales Services

Comfort0

5

10

15

20

25

30

35

40

45

50

Series 1

Analysis

The sample size is 48 because all the people who know about Bolero have answered this question. The study of the data reveals that the most contributing factor towards consumer satisfaction level is low maintenance cost of Bolero. Aftersales services and looks come second in the list of factors contributing to the customer satisfaction. The least satisfactory factor is Bolero’s features.

TABLE 7: Rate scale of Features

Marks 1 2 3 4 5Space 3 8 10 12 15Fuel 1 8 8 19 12Maintenance 3 9 10 16 10Comfort 9 5 20 11 3Looks and Features

19 16 8 4 1

Sample: 48

DIAGRAM 7: Rate Scale of Features

Space Fuel Maintenance Features Looks and comfort0

5

10

15

20

25

12345

ANALYSIS

Space: The space is a good feature in Bolero. A large size of Population have rated it 4 or 5

Fuel: the fuel consumption is also good as most people have rated it high.

Maintenance: the maintenance cost is low; therefore people are above satisfied with the maintenance cost of Mahindra Bolero

Features: features are satisfactory or somewhere below satisfactory.

Looks and Comfort: many people have rated looks and comfort with a 1. This shows that customers are not satisfied with the looks and comfort of the product.

TABLE 8: Product liking

Frequency Percentageyes 28 58.33No 14 29.17Can’t say 6 12.5Sample size: 48

DIAGRAM 8: Product liking

Column1

YesNoCan't Say

Analysis

The product liking among customers seems to be good as 28 out of 48 people are liking this product i.e. approximately 58.33% of the sample population.

TABLE 9: intention of purchase

Frequency PercentageYes 23 47.92No 12 25Can’t say 13 27.08Sample size 48

DIAGRAM 9: Intention of Purchase

YesNoCan't say

Analysis

The intention of among customers seems to be good as 23 out of 48 people are willing to buy the product i.e. approximately 48% of the sample population.

TABLE 10: CUSTOMER PERCEPTION

Frequency PercentageVery good 12 25Good 18 37.5Average 12 25Bad 6 12.5Very bad 0 0Sample size 48

DIAGRAM 10: Customer Perception

Very good Good Average Bad Very bad0

2

4

6

8

10

12

14

16

18

Analysis

The study of above data shows that the customer perception of Mahindra Bolero is very good due to its low maintenance cost and various other features discussed in above tables.

FINDINGS

After the analysis of all the information the following points, the following observations have been made:

The product is very famous in the market as 96% of the population has heard about it. The major source of information about the product is television and hoardings.

MAHINDRA bolero has an excellent percentage of customer satisfaction as already represented in above tables and diagrams.

Most of the people are satisfied with the low maintenance cost and aftersales service provided by Mahindra Bolero.

Other factors such as fuel, safety, comfort, etc. are also satisfactory as rated by the sample population.

As to the features of the car, it is a loophole of the car. The features of the car are not satisfactory.

The consumer perception is good about the product. One thing also is to be noted that the persons of age group of 30-40 seems

more interested in the car.

RECOMMENDATIONS

After studying and analyzing the questionnaires, it has been found that the car lacks some features and the company needs to improve on its marketing strategies.

Following are the recommendations.

Mahindra Company has to implement good customer relationship management strategy that enhances customer satisfaction level.

The company should undertake R&D to improve its current and existing features and performance.

The company should promote all the features offered by it and should maintain the existing standards.

The demand for Mahindra Bolero is observed more in villages, when compared to the cities. The rural people who enjoy higher status in the society use the product as a symbol of prestige. Based on this information, the Company should work in the direction of promoting the product in big towns.

There are some people who are unaware of this product. The Company should increase hoardings on busy streets, with more usage of graphics, to make it understandable to those people who are ignorant to the technical jargon.

BIBLIOGRAPHY

Websites:

www.mahindrabolero.com www.google.co.in www.automobile.com www.konceptmahindra.com

Philip Kotler, 12 th edition Marketing Management Personal visits to Koncept Mahindra Magazines

ANNEXTURE

Questionnaire for customers

1) Have you heard about Mahindra Bolero?YesNo

2) From where did you hear about it?Hoardings/newspapersTV/RadioInternetFamily/FriendsOther source

3) How often have you heard about it/seen it?Many timesOftenSometimesNever

4) Have you taken the test drive?YesNo

5) Are you satisfied with Mahindra Bolero?YesNo

6) Which factor contributes to your satisfaction the most?LooksFeaturesLow maintenance

After sale services

7) On a rate scale of 1-5, with 5 as best and 1 as least, rate the following features of Mahindra bolero-

Space 1 2 3 4 5Fuel 1 2 3 4 5Maintenance

1 2 3 4 5

Features 1 2 3 4 5Looks and Comfort

1 2 3 4 5

8) Do you like this product of Mahindra?YesNoCan’t say

9) Do you wish to purchase this product of Mahindra?YesNoCan’t Say

10) What is your perception about the product?Very goodGoodAverageBadVery bad

PERSONAL INFORMATION

Age

Sex

Income

Profession