Bikes or two wheelers in India cater to various needs of the consumers. With the choice of the Indians improving from bicycles to two wheelers, the Indian two-wheeler market has seen a significant growth over the years. Now owing a bike has become a must for most Indians. Even if people own a car they prefer to have a bike as it is very economical and fuel efficient. With the growth in the economy the demand for two wheelers is increasing over the years.
It is one of the most dynamic industries today and with the increasing competition companies are bringing in new products with sophisticated technologies and innovative features to capture a major pie of the Indian market and it‘s the consumer who is benefited from it.. The motorcycle has now become one most popular mode of transportation among the Indian middle class families because of it is cost effective, economical and easy to navigate through the traffic. Indian companies are one of the largest two wheeler manufacturers in the world.
The number one bike manufacturer in the world, Hero Honda is in close competition with the Indian manufacturer Bajaj India. The motorcycle industry in India has witnessed a tremendous change in the 90‘s with the invention of 4 stroke engine which makes the bikes more fuel efficient. Further companies are trying to bring in more innovations to make the motorcycle ride more comfortable, safe and user friendly and economical. In a nut shell the followings factors can be distinguished for the growth of motorcycle industry in India:
The Research paper on Two Wheeler in India
Introduction: This is research is based on the consumer decision towards the two wheeler in India. The two-wheeler market has witnessed a marked shift towards motorcycles at the expense of scooters. India is the third largest manufacturer of two-wheelers in the world. The Indian two-wheeler industry has come a long way since its humble beginning in 1948 when Bajaj Auto started importing and ...
Easy accessibility to cheap consumer loans. 2. The increase in the average income of the family. 3. The reduction in duties and taxes. 4. Convenience with regards to commuting as compared to the public transport system. 5. Continuous innovations in technology making the bikes economic and fuel-efficient. 6. The first choice among youths and teenagers. 2. CONSUMER BUYING MOTIVE. A buying motive is the reason why the customer purchases the goods. Motive is the driving force behind to purchase the goods.
So, motive refers to thought, urge, feeling, emotion and drive which make the buyer to react in the form of a decision. Motivation explains the behavior of the buyer why they are going to buy the goods. They buy the goods due to several motives such as economic, social, psychological etc. for example in winter seasons we are motivate to purchase the woolen clothes to protect from the cold. Likewise, we are motivated to purchase the fans in summer season to get the relief from the hot. Buying motive is concerned with the reasons that impulse the buyer to take the decision for the action.
It motives or induces the customers that may be affected due to several reasons such as pride, fashion, fear, safety, love and affection, comfort and convenience and economy. 2. 1 CLASSIFICATION OF BUYING MOTIVES. Different authors have classified buying motives in different ways. According to Melvin S. Hatrick, there are two classifications. a. Primary buying motives: Primary buying motives are related to the basic needs of human being such as hunger, thirst, sleep, sex etc. Due to these needs people get motivated to purchase the goods?
Secondary buying motives: Secondary buying motives are those, which are influenced by the society where he is born and lives. It is created after fulfilling the basic needs. These motives are curiosity, comfort, security, love and affection. It can be further classified under three main headings. Classification of buying motives: 1. Emotional a. love and affection. b. Curiosity. c. Fashion. d. Pride and Prestige. e. Sex and Romance. f. Fear. 2. Rational a. Economy. b. Utility. c. Comfort and convenience. d. Durability. e. Security. 3. Patronage a. Service Motive. b. Quality.
Emotional Buying Motives: Buying motives based on feelings or passions are known as emotional buying motives. These motives are not based on judgment, but they purchase on the basis of motion. There are some motives/elements which are as follows. a. Love and affection: It is an important buying motive which includes the buyers to purchase the goods. Due to love and affection to the children, we buy toys, dress biscuits etc. A husband may buy saris and cosmetics for his wife due to the love and affection. b.
The Business plan on Best Buy Co., Inc. Customer-Centricity
The consumer electronics giant, Best Buy, was first established in 1966 with a single location and a staff of three in St. Paul, Minnesota, selling audio equipment targeted at 18-25 year old males. Initially Sound of Music/Best Buy grew through acquisition, expanding to nine locations in the Twin Cities area by 1978. The name, Best Buy, and expanded product line, ranging from audio and video ...
Curiosity: Curiosity is the desire for new experience which motivates the people to buy the specific goods. Thus, to get the new experience, customers purchase the goods. c. Fashion: It is an important motive that can change the mind of the customers. Generally, customers try to copy particularly the movie stars, sportsmen and athletes etc. So, all the producers advertise their products with the help of these popular personalities. d. Pride and prestige: Due to the pride and prestige in the society, customers purchase expensive and luxuries goods in- order to maintain their status.
They purchase Toyota car, Karizma motorcycle, fifty-nine inch color television etc. to get the high position in the society. e. Sex and Romance: Sex and romance is another important emotional buying motive that induces the customers to purchase the goods. Due to sex and romance, they purchase fancy dress, cosmetic items, perfumes, shaving lotions etc. f. Fear: People are generally afraid of losing their health, wealth and life. Thus, it motivates to purchase the goods such as insurance policy, hiring lockers in bank and membership of health club etc. These goods or services help them to avoid their fear. 2.
Rational Buying Motives: Rational buying motives are those which are based on sound judgment. They purchase the goods through proper testing, comparing and observing the goods on the basis of price, quality, durability etc. This motive is important to the customers because it helps them to save the unnecessary cost. It includes the following motives. a. Economy: Under this motives, the customer prefer that products which are more economy or cheap in price. To get more profit and discount, customers purchase such goods. This element attracts and encourages the customers to buy such goods in large quantities.
Customers want to purchase those goods which have more or higher utility. Utility satisfies the wants of the customers. c. Comfort and convenience: Every people have the desire to live in comfort and convenient way as a result they get motivated to purchase such goods which provide comfort and convenience. Customers purchase T. V. , DVD, motorcycle, washing machines, heater, cooler, sofa set etc. for their pleasure and comfort.
The Term Paper on Consumer Buying Behavior 2
... Impact of Buying Motives on Purchase Decision Making process Companies advertise their product as a bundle of some attributes. And, customers see the ... conducted in the areas of consumer behavior and perception in relation to non durable goods and FMCG in India are ... altogether different behavior. d. Non-availability of Preferred Brand Store loyalty is regarded as the patronage of customers to a ...
It is another element of rational buying motive. Due to the durability of the products, customers are motivated to purchase the goods for example Toyota car, Sony TV etc are purchased due to their durability to use. e. Security: It is important to the people. People are not feeling secure from the floods, earthquakes, theft, etc. in the society. So, the customers purchase the key lockers, open the bank A/c and keep the watchman etc to be secured. 3. Patronage Buying Motive: When the customers purchase the goods or services on the basis of particular place, special discount, present price, decoration, behavior and behavior and other facilities are known as patronage buying motives.
Following points are discussed under this motive. a. Service motive: Service is an important motive which inspires the customers to purchase the goods. Customers purchase the goods to get the services, such as credit facility, home delivery facility, free installation, free repair and maintenance services. b. Quality: Due to the quality of the goods, customers are motivated to purchase certain goods or services. If products assure the quality, the customers are even ready to pay the higher price of such goods. c. Location: Location also affects to purchase the goods.
Customers prefer to buy those goods which are easily available near their home or locality. d. Store loyalty: Store loyalty is another important element which plays significant role in buying motive. We purchase different goods due to the loyalty of the store such as attractive appearances, trust in weight, quality, price etc. e. Friendliness behavior: Friendliness behavior of salesman also affects the customers to purchase the goods from the same supplier which is also discussed under the patronage buying motives. 3. CUSTOMER BEHAVIOUR.
The main aim of marketing is meet and satisfy target customers need and wants buyer behavior refers to the peoples or organization conduct activities and together with the impact of various influence on them towards making decision on purchase of product and service in a market. The field of consumer behavior studies how individuals, groups and organization select, buy, use and dispose of goods, service, ideas, or experience to satisfy their needs and desires understanding consumer behavior and knowing customer are never simple.. The wealth of products and service produced in a country make our economy strong.
The Essay on Consumer Purchase Decision
There are many reasons that a consumer chooses a certain product. It may be that it is environmentally friendly, a great design or it might be as simple as the price of the product. As a business organization we must be able to conduct our research and decipher what is most important to our target market. The consumer buying decision process is a systematic way of looking at how a consumer makes ...
The behavior of human being during the purchase is being termed as ? Buyer Behavior. Customer says one thing but do another. They may not be in touch with their deeper motivations. They are responding to influences that change their mind at the last minute. A buyer makes take a decision whether save or spend the money. 3. 1 WHAT IS COMSUMER BUYING BEHAVIOUR? Buying Behavior is the decision processes and acts of people involved in buying and using products. Need to understand: Why consumers make the purchases that they make? What factors influence consumer purchases?
The changing factors in our society. Consumer Buying Behavior refers to the buying behavior of the ultimate consumer. A firm needs to analyze buying behavior for: Buyer’s reactions to a firms marketing strategy has a great impact on the firm’s success. The marketing concept stresses that a firm should create a Marketing Mix (MM) that satisfies (gives utility to) customers, therefore need to analyze the what, where, when and how consumers buy. Marketers can better predict how consumers will respond to marketing strategies. 3. 2 TYPES OF CONSUMER BEHAVIOUR.
Types of consumer buying behavior are determined by: Level of Involvement in purchase decision. Importance and intensity of interest in a product in a particular situation. Buyer’s level of involvement determines why he/she is motivated to seek information about a certain products and brands but virtually ignores others. High involvement purchases–Honda Motorbike, high priced goods, products visible to others, and the higher the risk the higher the involvement. Types of risk: Personal risk Social risk Economic risk The four type of consumer buying behavior are: Routine Response/Programmed Behavior—
The Term Paper on Consumer Behavior
Consumer Behavior A. A high involvement products are products in which a consumer goes through quite a long decision making process with every buy. Usually this product is considered the high involvement in the risk factor (the price or the use) that is connected with the purchase is high. Meaning the decision of choosing this product is connected with a large loss. The product that is a very good ...
Buying low involvement frequently purchased low cost items; need very little search and decision effort; purchased almost automatically. Examples include soft drinks, snack foods, milk etc. Limited Decision Making— Buying product occasionally. When you need to obtain information about unfamiliar brand in a familiar product category, perhaps. Requires a moderate amount of time for information gathering. Examples include Clothes–know product class but not the brand. Extensive Decision Making— Complex high involvement, unfamiliar, expensive and/or infrequently bought products. High degree of economic/performance/ psychological risk.
Examples include cars, homes, computers, education. Spend a lot of time seeking information and deciding. Information from the companies MM; friends and relatives, store personnel etc. Go through all six stages of the buying process. Impulse buying– No conscious planning. The purchase of the same product does not always elicit the same Buying Behavior. Product can shift from one category to the next. For example: Going out for dinner for one person may be extensive decision making (for someone that does not go out often at all), but limited decision making for someone else.
The reason for the dinner, whether it is an anniversary celebration, or a meal with a couple of friends will also determine the extent of the decision making. 3. 3 FACTOR INFLUENCING CONSUMER BUYING BEHAVIOUR. Consumer behavior is affected by a host of variables ranging from personal, professional needs, attitudes and values, personality characteristics, social economic and cultural background, age, gender, professional status to social influences of various kinds exerted a family, friends, colleagues, and society as a whole.
The combination of these factors help the consumer indecision making further Psychological factors that as individual consumer needs, motivations, perceptions attitudes, the learning process personality characteristics are the similarities, which operate across the different types of people and influence their behavior. \ There are four major factors which influences on the buying behavior of consumer. 1. Cultural factors. 2. Social factors. 3. Personal factors. 4. Psychological factors. 1. Cultural factors:
The Term Paper on Factors Influencing Consumer Behavior
This article is the third in a series of articles about the factors and variables that influence the behavior of consumers. How reacts a consumer? What are the motivations and aspirations that guide him? What are the factors that influence him? Why he will choose a product or brand over another? Today, let’s focus on the factors influencing consumer behavior: what are they? How do they work? What ...
Consumer behavior cultural can be defined as the sum total of learned belief, values and customs that serve to guide and direct the consumer behavior of all members of that society. Cultural is a learned through the following three ways:- 1. Formal learning 2. Informal learning 3. Technical learning. Cultural is a most fundamental determinant person’s wants and behavior, the growing child acquires a set of values, perceptions, preferences and behavior, through his family and key institutions. 2. Social factors:
Consumer behavior is also influenced by such social factors as reference groups, family and social roles and status. 3. PERSONAL FACTORS: Buyer’s decisions are also influenced by personal characteristics, the buyers’ age, lifecycle stages, occupation, economic circumstances, lifestyle and personality and self-concept. 4. PSYCHOLOGICAL FACTORS: ‘Abraham Mallows’ needs can be ranked in order of importance from the low biological needs to the higher levels of psychological needs. MASLOW’S hierarchy of human needs make us understand consumer motivation.
It is useful for the marketer who can identify what generic level need this brand is capable fulfilling and accordingly position his brand up with relevant marketing inputs. Brands such as food and clothes are bought to fulfill psychological needs 4. STAGES OF CONSUMER BUYING BEHAVIOUR. Six Stages to the Consumer Buying Decision Process (For complex decisions).
Actual purchasing is only one stage of the process. Not all decision processes lead to a purchase. All consumer decisions do not always include all 6 stages, determined by the degree of complexity…
Discussed next. The 6 stages are: 1. PROBLEM RECOGNITION:- 2. INFORMATION SEARCH. 3. EVALUATION OF ALTERNATIVE. Need to establish criteria for evaluation, features the buyer wants or does not want. Rank/weight alternatives or resume search. May decide that you want to eat something spicy, Indian gets highest rank etc. If not satisfied with your choice then returns to the search phase. Can you think of another restaurant? Look in the yellow pages etc. Information from different sources may be treated differently. Marketers try to influence by “framing” alternatives.
I have used HERO HONDA Company as an example in my project which is the most leading company OF two wheelers in India. I have used company profile and important data also. 6. CASE STUDY. 6. 1 HERO HONDA PVT. LTD 6. 2 COMPANY’S PROFILE :- The joint venture between India’s Hero Group and Honda Motor Company, Japan has not only created the world’s single largest two wheeler company but also one of the most successful joint ventures worldwide.
But today the venture between the HERO GROUP and HONDA MOTOR COMPANY is no more they separated themselves and now the HERO HONDA COMPANY is known as “ HERO MOTOCORP”. During the 80s, Hero Honda became the first company in India to prove that it was possible to drive a vehicle without polluting the roads. The company introduced new generation motorcycles that set industry benchmarks for fuel thrift and low emission. A legendary ‘Fill it – Shut it – Forget it’ campaign captured the imagination of commuters across India, and Hero Honda sold millions of bikes purely on the commitment of increased mileage.
Over 20 million Hero Honda two wheelers tread Indian roads today. These are almost as many as the number of people in Finland, Ireland and Sweden put together! “Brijmohan Lall Munjal” the Chairman, Hero Honda Motors succinctly points out, “We pioneered India’s motorcycle industry, and it’s our responsibility now to take the industry to the next level. We’ll do all it takes to reach there. ” Mission: Hero Honda‘s mission is to strive for synergy between technology, systems and human resources, to produce products and services that meet the quality, performance and price aspirations of its customers.
At the same time maintain the highest standards of ethics and social responsibilities. This mission is what drives Hero Honda to new heights in excellence and helps the organization forge a unique and mutually beneficial relationship with all its stake holders.
