A Project study report On

TVS Motor Company

Titled

A STUDY ON CONSUMER SATISFACTION OF TVS GROUP WITH REFERENCE TO SCOOTY PEP+, CHENNAI Submitted in partial fulfillment for the award of degree of bechelor of business administration semester system in the lieu of paper 406

YEAR 2013-2014
Submitted By:LOKESH KUMAR SHARMA BBA-IV sem. Submitted To:Ms.CHITRANGI SHARMA Assisstant Professor BIYANI COLLEGE OF SCIENCE AND MANAGEMENT,KALWAR ROAD,JAIPUR UNIVERSITY OF RAJASTHAN,JAIPUR

CERTIFICATE
This is to certify that Mr.Lokesh Kumar Sharma student of Biyani College Of Science And Management,Jaipur has prepared his project report entitled A STUDY ON CONSUMER SATISFACTION OF TVS GROUP WITH REFERENCE TO SCOOTY PEP+, CHENNAI under my supervision. He has prepared the report TVS Motor Company for a period of 45 days.

To the best of my knowledge this is an original piece of work. Date: Ms.CHITRANGI SHARMA Assisstant Professor

ACKNOWLEDGEMENT The successful completion of any research project requires guidance and help from guidance and help from a number of people. I take my immense pleasure in expressing a whole hearted thanks to all the officials who guided me all the way through my training in the organization. I therefore take this opportunity to express my profound sense of gratitude to all those who extended their whole hearted help and support to me in carrying out the project work. I am extremely grateful to my college guide Ms.Chitrangi Sharma for her valuable guidance and timely suggestions. I would like to thanks all faculty members for the valuable guidance. I express my deep gratitude to Mr.Vaibhav Sharma who provide me an insight into the working that enhanced my knowledge and with their support & cooperation this report has taken a personable.I extend my warm thanks for guided me and provided the opportunity to get acquainted with the organization culture and also helped to know the various opportunity of the organization. I even express my sincere acknowledgement to all the personnel of different departments whose informative guidance motivated me to understand various dynamics of the company. Besides above, I am grateful to everyone who has helped me in completing my task to my satisfaction level. Errors and deficiencies are likely are to be there; therefore I apologize for the same in advance.

S.NO. 1 1.1 Company Profile Introduction History

TITLE

PAGE NO 1

INTRODUCTION
TVS Motor Company (BSE: 532343, NSE: TVSMOTOR) is the third largest two-wheeler manufacturer in India. It is the flagship company of the parent TVS Group employing over 40,000 people with an estimated 15 million Consumers. It manufactures motorcycles, scooters, mopeds and auto rickshaws. It is India's only two-wheeler company to have won the Deming Prize awarded for commitment to quality control, received in 2002. HISTORY the TVS Motor traces its origins back to the entrepreneurial spirit of TrichurVengaramSundaramIyengar who gave up lucrative careers in the Railways and in banking to set up his own business. He began with Madurai's first bus service in 1911 and founded T.V.SundaramIyengar and Sons Limited, a company that consolidated its presence in the transportation business with a large fleet of trucks and buses under the name of Southern Roadways Limited.[3] When he died in 1955 his sons took the company ahead with several forays in automobile sector, including finance, insurance, and manufacture of two-wheelers, tyres and components. The group has managed to run 33 companies that account for a combined turnover of nearly $ 3 billion . EARLY YEARS Sundaram Clayton, then the flagship company, was founded in 1962 in collaboration with Clayton Dewandre Holdings, United Kingdom. It manufactured brakes, exhausts, compressors and various other automotive parts. The company set up a plant at Hosur in 1978 to manufacture mopeds as part of a new division.[4] A technical collaboration with the Japanese auto giant resulted in the joint-venture In Suzuki Limited in 1982 between Sundaram Clayton Ltd and Suzuki. Commercial production of motorcycles began in 1984 Suzuki relationship TVS and Suzuki shared a 19 year long relationship that was aimed at technology transfer to enable design and manufacture of

two-wheelers specifically for the Indian market. Rechristened TVSSuzuki, the company brought out several models such as the Suzuki Samurai, Suzuki Shogun And Suzuki Fiero. Differences in opinion on how to run the joint venture eventually led to the partners going their separate ways in 2001 with the company being renamed TVS Motor, relinquishing rights to use the Suzuki name. There was also a 30 month moratorium period during which Suzuki promised not to enter the Indian market with competing two-wheelers.Thecompany also got over a period of labor that required Chairman VenuSrinivasan to take tough measures to resurrect a company that was in a state of turmoil. He would go on to invest in new technology, nurture in-house design, and implement Toyota-style quality programs. Recent Over the years TVS Motor has grown to be the largest in the group, both in terms of size and turnover, with four state of the art manufacturing plants in Hosur, Mysore and Nalagarh in India and Karawang in Indonesia. TVS Motor is credited with many innovations in the Indian automobile industry, notable among them being the introduction of India's first twoseater moped, the TVS 50cc. The company became the leader in its category of sub 100 cc mopeds, having sold 7 million units. It also introduced the TVS Scooty, which is India's second largest brand in the scooterettesegment.The TVS Jive launched in November 2009 became India's first clutch-free motorbike aimed at a stress-free rider experience while the unisex scooter Wego is targeted at urban couples, featuring body-balance technology for easier handling. Awards

TVS Motor won the Deming Application Prize in 2002, becoming the first and only Indian two-wheeler company to win the award given to companies that do outstanding work in the field of Quality Management. It is considered to be one of the world's most prestigious quality awards.The same year, the work done for the TVS Victor motorcycle won TVS Motor the National Award for successful commercialization of indigenous technology from the Technology Development Board, Ministry of Science & Technology, Government of India. In 2004, TVS Scooty Pep won the 'Outstanding Design Excellence Award' from BusinessWorld magazine and the National Institute of Design, Ahmedabad.The effective implementation of Total Productivity Maintenance practices won TVS Motor the TPM Excellence Award given by the Japan Institute of Plant Maintenance in 2008. TVS Motor has won several management awards, notable among them being the Emerging Corporate Giant in the Private Sector awarded by The Economic Times and the Harvard Business School Association of India. Business Today magazine awarded TVS Motor the Innovative implementation of Information Technology has won TVS Motor the Ace Award for Most Innovative NetWeaver Implementation in 2007 awarded by technology major SAP AG and the Team Tech 2007 Award of Excellence for Integrated use of Computer-aided engineering Technologies. TVS was ranked 54th in The Brand Trust Report published by Trust Research Advisory Best Managed Company and the Most Investor Friendly Company awards. Its advertising practices won it the Good Advertising award by Auto India Best Brand Awards 2009. Company Chairman VenuSrinivasan is a recipient of several awards for corporate excellence such as the Star of Asia Award by Bloomberg BusinessWeek and the JRD Tata Corporate Leadership Award. The University of Warwick, United Kingdom gave him an honorary Doctorate of Science degree while the Government of India honored him with the Padma Shri, one of India's highest civilian distinctions.

OBJECTIVES OF THE STUDY

PRIMARY OBJECTIVES: The study has been under taken primarily to analyze the Consumer satisfaction towards the consumer preference and to know the market position of TVS Scooty pep+ regarding the factors influencing the level of Consumer Satisfaction. SECONDARY OBJECTIVES: PEP+ in Geographic region of Chennai (TN) eatures, maintenance cost and looks of SCOOTY PEP+.

provided by SCOOTY PEP+.

Company sales and profitability. To know the Consumer satisfaction towards the after sales service offers by TVS MOTORS.

LIMITATIONS OF THE STUDY

y has been taken from TVS motors of Chennai city and fails to cover rest of the districts in the country.

ay also act as a limitation in the study.

Chennai city, the respondents of Chennai city was only considered for further research findings.

INTRODUCTION TO MARKETING
Marketing. Several definitions have been proposed for the term marketing. Each tends to emphasize different issues. Memorizing a definition is unlikely to be useful; ultimately, it makes more sense to thinking of ways to benefit from creating customer value in the most effective way, subject to ethical and other constraints that one may have. The 2006 and 2007 definitions offered by the American Marketing Association are relatively similar, with the 2007 appearing a bit more concise. Note that the definitions make several points:

between other parties. others affected by the firms choices. sellers, and other parties. exchanging offerings. Delivering customer value. The central idea behind marketing is the idea that a firm or other entity will create something of value to one or more customers who, in turn, are willing to pay enough (or contribute other forms of value) to make the venture worthwhile considering opportunity costs. Value can be created in a number of different ways. Some firms manufacture basic products (e.g., bricks) but provide relatively little value above that. Other firms make products whose tangible value is supplemented by services (e.g., a computer manufacturer provides a

computer loaded with software and provides a warranty, technical support, and software updates). It is not necessary for a firm to physically handle a product to add valuee.g., online airline reservation systems add value by (1) compiling information about available flight connections and fares, (2) allowing the customer to buy a ticket,

(3) forwarding billing information to the airline, and (4) forwarding reservation information to the customer. It should be noted that value must be examined from the point of view of the customer. Some customer segments value certain product attributes more than others. A very expensive productrelative to others in the categorymay, in fact, represent great value to a particular customer segment because the benefits received are seen as even greater than the sacrifice made (usually in terms of money). Some segments have very unique and specific desires, and may value whatto some individualsmay seem a lower quality itemvery highly. It should be noted that value must be examined from the point of view of the customer. Some customer segments value certain product attributes more than others. A very expensive productrelative to others in the categorymay, in fact, represent great value to a particular customer segment because the benefits received are seen as even A customer buys a chair, for example, rather than the wood and other components used to create the chair. Thus, the customer benefits from the specialization that allows the manufacturer to more efficiently create a chair than the customer could do himself or herself. Place utility refers to the idea that a product made available to the customer at a preferred location is worth more than one at the place of manufacture. It is much more convenient for the customer to be able to buy food items in a supermarket in his or her neighborhood than it is to pick up these from the farmer. Time utility involves the idea of having the product made available when needed by the customer. The customer may buy a turkey a few days before Thanksgiving without having to plan to have it available. Intermediaries take care of the logistics to have the turkeyswhich are easily perishable and bulky to store in a freezeravailable when customers demand them. Possession utility involves the idea that the consumer can go to one store and obtain a large assortment of goods from different manufacturers during one shopping occasion. Supermarkets combine food and other household items from a number of different suppliers in one place. Certain superstores such as the European hypermarkets and the Wal-Mart super centers combine even more items into one setting

The marketing vs. the selling concept. Two approaches to

marketing exist. The traditional selling concept emphasizes selling existing products. The philosophy here is that if a product is not selling, more aggressive measures must be taken to sell ite.g., cutting price, advertising more, or hiring more aggressive (and obnoxious) sales-people. When the railroads started to lose business due to the advent of more effective trucks that could deliver goods right to the customers door, the railroads cut prices instead of recognizing that the customers ultimately wanted transportation of goods, not necessarily railroad transportation. Smith Corona, a manufacturer of typewriters, was too slow to realize that consumers wanted the ability to process documents and not typewriters per se. The marketing concept, in contrast, focuses on getting consumers what they seek, regardless of whether this entails coming up with entirely new products. The 4 Psproduct, place (distribution), promotion, and pricerepresent the variables that are within the control of the firm (at least in the medium to long run). In contrast, the firm is faced with uncertainty from the environment.

The Marketing Environment

Elements of the environment. The marketing environment involves factors that, for the most part, are beyond the control of the company. Thus, the company must adapt to these factors. It is important to observe how the environment changes so that a firm can adapt its strategies appropriately. Consider these environmental forces: Competition: Competitors often creep in and threaten to take away markets from firms. For example, Japanese auto manufacturers became a serious threat to American car makers in the late 1970s and early 1980s. Similarly, the Lotus Corporation, maker of one of the first commercially

successful spreadsheets, soon faced competition from other software firms. Note that while competition may be frustrating for the firm, it is good for consumers. (In fact, we will come back to this point when we consider the legal environment).Note that competition today is increasingly global in scope. It is important to recognize that competition can happen at different levels. At the brand level, two firms compete in providing a very similar product or service. Coca Cola and Pepsi, for example, compete for the cola drink market, and United and American Airlines compete for the passenger air transportation market. Firms also face less directbut frequently very seriouscompetition at the product level. For example, cola drinks compete against bottled water. Products or services can serve as substitutes for each other even though they are very different in form. Teleconferencing facilities, for example, are very different from airline passenger transportation, but both can bring together people for a meeting. At the budget level, different products or services provide very different benefits, but buyers have to make choices as to what they will buy when they cannot affordor are unwilling to spend onboth. For example, a family may decide between buying a new car or a high definition television set. The family may also have to choose between going on a foreign vacation or remodeling its kitchen. Firms, too, may have to make choices. The firm has the cash flow either to remodel its offices or install a more energy efficient climate control system; or the firm can choose either to invest in new product development or in a promotional campaign to increase awareness of its brand among consumers. Economics. Two economic forces strongly affect firms and their customers: o Economic Cycles. Some firms in particular are extremely vulnerable to changes in the economy. Consumers tend to put off buying a new car, going out to eat, or building new homes in bad times. In contrast, in good times, firms serving those needs may have difficulty keeping up with demand. One important point to realize is that different industries are

affected to different degrees by changes in the economy. Although families can cut down on the quality of the food they buygoing with lower priced brands, for examplethere are limits to the savings that can be made without greatly affecting the living standard of the family. On the other hand, it is often much easier to put off the purchase of a new car for a year or hold off on remodeling the family home. If need be, firms can keep the current computerseven though they are getting a bit slow when sales are down. The economy goes through cycles. In the late 1990s, the U.S. economy was quite strong, and many luxury goods were sold. Currently, the economy fluctuates between increasing strength, stagnation, or slight decline. Many firms face consequences of economic downturns. Car makers, for example, have seen declining profit margins (and even losses) as they have had to cut prices and offer low interest rates on financing. Generally, in good economic times, there is a great deal of demand, but this introduces a fear of possible inflation. In the U.S., the Federal Reserve will then try to prevent the economy from overheating. This is usually done by raising interest rates. This makes businesses less willing to invest, and as a result, people tend to make less money. During a recession, unemployment tends to rise, causing consumers to spend less. This may result in a bad circle, with more people losing their jobs due to lowered demands. Some businesses, however, may take this opportunity to invest in growth now that things can be bought more cheaply. o Inflation. Over time, most economies experience some level of inflation. Therefore, it is useful to explicitly state whether a reference to money over time involves the actual dollar (or other currency) amount exchanged at any point (e.g., one dollar spent in 1960 and one dollar in 2007) or an inflation adjusted figure that anchors a given amount of money to the value of that money at some point in time. Suppose, for example, that cumulative inflation between 1960 and 2007 has been 1,000%--that is, on the average, it costs ten times as much to buy the same thing in 2007 as it did 47 years earlier. If the cumulative inflation between 1960 and 1984 had been 500%, we could talk about one 1984 dollar being

worth fifty 1960 cents or two 2007 dollars. It is important to note that inflation is uneven. Some goods and servicessuch as health care and college tuitionare currently increasing in cost much higher than the average rate of inflation. Prices of computers, actually decline both in absolute numbers (e.g., an average computer cost $1,000 one year and then goes for $800 two years later) and in terms of the value for money paid once an adjustment has been made for the improvement in quality. That is, two years later, the computer has not only declined in price by 20%, but it may also be 30% better (based on an index of speed and other performance factors). In that case, then, there has actually been, over the period, a net deflation of 38.5% for the category. Political. Businesses are very vulnerable to changes in the political situation. For example, because consumer groups lobbied Congress, more stringent rules were made on the terms of car leases. The tobacco industry is currently the target of much negative attention from government and public interest groups. Currently, the desire to avoid aiding the enemy may result in laws that make it more difficult for American firms to export goods to other countries. Many industries have a strong economic interest in policies that benefit the industry may have a negative impact on the nation as a whole but enhance profits for the industry. For example, regulations that limit the amount of sugar that can be imported into the United States is estimated to cost each American approximately $10.00 a year. The total increase in profits to the sugar industry is difficult to estimate because many of the large producers of refined sugar are privately held corporations, but it is likely that the net gain to the industry is as much as the roughly $3 billion lost by Americans a whole. However, the interests of the industry are much more concentrated. The industry can rally its stockholders, unions and employees, and suppliers (e.g., fertilizer manufacturers and manufacturers of sugar cane processing equipment) together to lobby for their special interests. In turn, the industry can join forces with other agricultural interests which each support each others programs.

Legal. Firms are very vulnerable to changing laws and changing interpretations by the courts. Firms in the U.S. are very vulnerable to lawsuits. McDonalds, for example, is currently being sued by people who claim that eating the chains hamburgers caused them to get fat. Firms are significantly limited in what they can do by various lawssome laws, for example, require that disclosures be made to consumers on the effective interest rates they pay on products bought on installment. A particularly interesting group of laws relate to antitrust. These laws basically exist to promote fair competition among firms. We will consider such laws when we cover pricing later in the term. Technology. Changes in technology may significantly influence the demand for a product. For example, the advent of the fax machine was bad news for Federal Express. The Internet is a major threat to travel agents. Many record stores have been wiped out of business by the trend toward downloading songs (or illegally ripping songs from friends CDsan act to which even the President of the United States has confessed). Although technological change eliminates or at least greatly diminishes some markets, it creates opportunities for others. For example, although Federal Express has lost a considerable amount of business from documents that can now be faxed or sent by the Internet rather than having to be physically shipped, there has been a large increase in demand for packages to be delivered overnight or second day air .Just-in-time manufacturing techniques, in addition to online sales, have dramatically increased the market for such shipments. Online sites such as eBay now makes it possible to sell specialty products that, in the old days, would have been difficult to distribute. Although it has been possible for more than a hundred years to sell merchandise by catalog, buyers of these specialty products often had no easy access to the catalogs. Social: Changes in customs or demographics greatly influence firms. Fewer babies today are being born, resulting in a decreased demand for

baby foods. More women work outside the home today, so there is a greater demand for prepared foods. There are more unmarried singles today. This provides opportunities for some firms (e.g., fast food restaurants) but creates problems for others (e.g., manufacturers of high quality furniture that many people put off buying until marriage). Today, there are more blended families that result as parents remarry after divorce. These families are often strapped for money but may require duplicate items for children at each parents residence.

INTRODUCTION TO CONSUMER SATISFACTION

In general satisfaction are a persons feelings of pleasure or disappointment resulting from comparing a products perceived performance relation to his/her expectations. If the performance falls short of expectation, the consumer is dissatisfied. If the performance matches the expectation consumer is satisfied. If the performance exceeds the expectation the consumer is highly satisfied. Consumer satisfaction cannot be very difficult. After all they either satisfied with the servicesor not. If you dont you are not. If it is that easy, then obtaining people's opinion about how satisfied they are with relatively straightforward matter. Consumer satisfaction is a marketing tool and a definite value-added benefit. It is often perceived by consumers as important as the primary product or service your organization offers. It looks at what is involved from 3 different angles; the first is from the view of anorganisation wishing to understand, and measures, how satisfied its consumer is with the products and services they receive from it. The second is from the perspective of are search agency that has been asked to obtain feedback from consumers and about their experiences when dealing with companies. Finally it considers the issue from the perspective of consumers who participate in surveys, including both business consumers and members of general public

MEANING OF CONSUMER SATISFICATION

Consumer satisfaction is a business term, is a measure of how products and services supplied by a company meet or surpass consumer expectation. It is seen as a key performance indicator within business and part of the four prospective of balanced score card.IN a competitive market place were businesses compete for consumers, consumer satisfaction is seen as a key differentiator and increasingly has become a key element of business strategy consumer satisfaction drives successful private sector business. High performing businesses have developed principles and strategies for achieving consumer satisfaction. This paper presents a framework or set of ideas for using consumer satisfaction principles and strategies to improve the quality responsiveness, and possibility of public sector privately provided services in vulnerable communities. The framework suggested that resident who live in tough neighborhoods can be supported through consumer satisfaction strategies to become empowered individuals

Need for measuring Consumer satisfaction

Consumers are too easy to lose Lets keep them happy! Consumer is the king. Marketing starts with the Consumer and ends the Consumer.

To understand the consumers level of satisfaction. To improve the quality of the services offered to them. To improve and understand the factors affecting the consumers requirements. To build Consumer and not only products. Building Consumers is not a single step exercise but a process.

SCOPE OF CONSUMER SATISFACTION

To determine overall customer satisfaction with ourproducts or services To identify customer perceptions of key areas of weakness and key areas of strength To measure and prioritize areas where improvement willmost affect customer satisfaction To identify key competition and determine competitiveposition To determine the extent pricing affects repeat customer sales To develop a means to measure a over time

CONSUMER SATISFACTION

Consumer satisfaction, a term frequently used in marketing, is a

measure of how products and services supplied by a company meet or surpass Consumer expectation. Consumer satisfaction is defined as "the number of Consumers, or percentage of total Consumers, whose reported experience with a firm, its products, or its services (ratings) exceeds specified satisfaction goals." In a survey of nearly 200 senior marketing managers, 71 percent responded that they found a Consumer satisfaction metric very useful in managing and monitoring their businesses.

It is seen as a key performance indicator within business and is often part of a Balanced Scorecard. In a competitive marketplace where businesses compete for Consumers, Consumer satisfaction is seen as a key differentiator and increasingly has become a key element of business strategy.

"Within organizations, Consumer satisfaction ratings can have powerful effects. They focus employees on the importance of fulfilling Consumers expectations. Furthermore, when these ratings dip, they warn of problems that can affect sales and profitability. . . . These metrics quantify an important dynamic. When a brand has loyal Consumers, it gains positive word-of-mouth marketing, which is both free and highly effective."

Therefore, it is essential for businesses to effectively manage Consumer satisfaction. To be able do this, firms need reliable and representative measures of satisfaction.

"In researching satisfaction, firms generally ask Consumers whether their product or service has met or exceeded expectations. Thus, expectations are a key factor behind satisfaction. When Consumers have high expectations and the reality falls short, they will be disappointed and will likely rate their experience as less than satisfying. For this reason, a luxury resort, for example, might receive a lower satisfaction rating than a budget moteleven though its facilities and service would be deemed superior in 'absolute' terms."

The importance of Consumer satisfaction diminishes when a firm has increased bargaining power. For example, cell phone plan providers, such as AT&T and Verizon, participate in an industry that is an oligopoly, where only a few suppliers of a certain product or service exist. As such, many cell phone plan contracts have a lot of fine print with provisions that they would never get away if there were, say, a hundred cell phone plan providers, because Consumer satisfaction would be way too low, and Consumers would easily have the option of leaving for a better contract offer.

There is a substantial body of empirical literature that establishes the benefits of Consumer satisfaction for firms.

Fix it,Improv e it,Make change

Ask customers if they like the new product

PURPOSE

Sell the improved product

Assess progress( is it selliong?)

A business ideally is continually seeking feedback to improve Consumer satisfaction. "Consumer satisfaction provides a leading indicator of consumer purchase intentions and loyalty." "Consumer satisfaction data are among the most frequently collected indicators of market perceptions. Their principal use is twofold:" 1. "Within organizations, the collection, analysis and dissemination of these data send a message about the importance of tending to Consumers and ensuring that they have a positive experience with the companys goods and services."

2. "Although sales or market share can indicate how well a firm is performing currently, satisfaction is perhaps the best indicator of how likely it is that the firms Consumers will make further purchases in the future. Much research has focused on the relationship between Consumer satisfaction and retention. Studies indicate that the ramifications of satisfaction are most strongly realized at the extremes." On a five-point scale, "individuals who rate their satisfaction level as '5' are likely to become return Consumers and might even evangelize for the firm. (A second important metric related to satisfaction is willingness to recommend. This metric is defined as "The percentage of surveyed Consumers who indicate that they would recommend a brand to friends." When a Consumer is satisfied with a product, he or she might recommend it to friends, relatives and colleagues. This can be a powerful marketing advantage.) "Individuals who rate their satisfaction level as '1,' by contrast, are unlikely to return. Further, they can hurt the firm by making negative comments about it to prospective Consumers. Willingness to recommend is a key metric relating to Consumer satisfaction."

Construction
Organizations need to retain existing Consumers while targeting nonConsumers. Measuring Consumer satisfaction provides an indication of how successful the organization is at providing products and/or services to the marketplace.

"Consumer satisfaction is measured at the individual level, but it is almost always reported at an aggregate level. It can be, and often is, measured along various dimensions.

A hotel, for example, might ask Consumers to rate their experience with its front desk and check-in service, with the room, with the amenities in the room, with the restaurants, and so on. Additionally, in a holistic sense, the hotel might ask about overall satisfaction 'with your stay.' As research on consumption experiences grows, evidence suggests that consumers purchase goods and services for a combination of two types of benefits: hedonic and utilitarian. Hedonic benefits are associated with the sensory and experiential attributes of the product. Utilitarian benefits of a product are associated with the more instrumental and functional attributes of the product (Batra and Athola 1990). Consumer satisfaction is an ambiguous and abstract concept and the actual manifestation of the state of satisfaction will vary from person to person and product/service to product/service. The state of satisfaction depends on a number of both psychological and physical variables which correlate with satisfaction behaviors such as return and recommend rate.

The level of satisfaction can also vary depending on other options the Consumer may have and other products against which the Consumer can compare the organization's products.

Work done by Parasuraman, Zeithaml and Berry (Leonard L)[ between 1985 and 1988 provides the basis for the measurement of Consumer satisfaction with a service by using the gap between the Consumer's expectation of performance and their perceived experience of performance. This provides the measurer with a satisfaction "gap" which is objective and quantitative in nature. Work done by Cronin and Taylor propose the "confirmation/disconfirmation" theory of combining the "gap" described by Parasuraman, Zeithaml and Berry as two different measures (perception and expectation of performance) into a single measurement of performance according to expectation. The usual measures of Consumer satisfaction involve a survey with a set of statements using a Likert Technique or scale. The Consumer is asked to evaluate each statement and in term of their perception and expectation of performance of the organization being measured. Their satisfaction is generally measured on a five-point scale.

Very dissatisfied Somewhat dissatisfied

1 2

Neither satisfied Somewhat nor dissatisfiet satisfied

3 4

Very satisfied
5

"Consumer satisfaction data can also be collected on a 10-point scale." "Regardless of the scale used, the objective is to measure Consumers perceived satisfaction with their experience of a firms offerings." It is essential for firms to effectively manage Consumer satisfaction. To be able do this, we need accurate measurement of satisfaction. Good quality measures need to have high satisfaction loadings, good reliability, and low error variances. In an empirical study comparing commonly used satisfaction measures it was found that two multi-item

semantic differential scales performed best across both hedonic and utilitarian service consumption contexts. According to studies by Wirtz& Lee (2003), they identified a six-item 7-point semantic differential scale (e.g., Oliver and Swan 1983), which is a six-item 7-point bipolar scale, that consistently performed best across both hedonic and utilitarian services.

It loaded most highly on satisfaction, had the highest item reliability, and had by far the lowest error variance across both studies. In the study, the six items asked respondents evaluation of their most recent experience with ATM services and ice cream restaurant, along seven points within these six items: please me to displeased me, contented with to disgusted with, very satisfied with to very dissatisfied with, did a good job for me to did a poor job for me, wise choice to poor choice and happy with to unhappy with. A semantic differential (4 items) scale (e.g., Eroglu and Machleit 1990), which is a four-item 7-point bipolar scale, was the second best performing measure, which was again consistent across both contexts. In the study, respondents were asked to evaluate their experience with both products, along seven points within these four items: satisfied to dissatisfied, favorable to unfavorable, pleasant to unpleasant and I like it very much to I didnt like it at all. The third best scale was single-item percentage measure, a one-item 7point bipolar scale (e.g., Westbrook 1980). Again, the respondents were asked to evaluate their experience on both ATM services and ice cream restaurants, along seven points within delighted to terrible It seems that dependent on a trade-off between length of the questionnaire and quality of satisfaction measure, these scales seem to be good options for measuring Consumer satisfaction in academic and applied studies

research alike. All other measures tested consistently performed worse than the top three measures, and/or their performance varied significantly across the two service contexts in their study. These results suggest that more careful pretesting would be prudent should these measures be used.. Finally, all measures captured both affective and cognitive aspects of satisfaction, independent of their scale anchors. Affective measures capture a consumers attitude (liking/disliking) towards a product, which can result from any product information or experience. On the other hand, cognitive element is defined as an appraisal or conclusion on how the products performance compared against expectations (or exceeded or fell short of expectations), was useful (or not useful), fit the situation (or did not fit), exceeded the requirements of the situation (or did not exceed)

Methodologies
American Consumer Satisfaction Index (ACSI) is a scientific standard of Consumer satisfaction. Academic research has shown that the national ACSI score is a strong predictor of Gross Domestic Product (GDP) growth, and an even stronger predictor of Personal Consumption Expenditure (PCE) growth. On the microeconomic level, academic studies have shown that ACSI data is related to a firm's financial performance in terms of return on investment (ROI), sales, long-term firm value (Tobin's q), cash flow, cash flow volatility, human capital performance, portfolio returns, debt financing, risk, and consumer spending. Increasing ACSI scores has been shown to predict loyalty, word-of-mouth recommendations, and purchase behavior. The ACSI measures Consumer satisfaction annually for more than 200 companies in 43 industries and 10 economic sectors. In addition to quarterly reports, the ACSI methodology can be applied to private sector companies and government agencies in order to improve loyalty and purchase intent. Two companies have been licensed to apply the methodology of the ACSI for both the private and public sector: CFI Group, Inc. and Foresee Results apply the ACSI to

websites and other online initiatives. ASCI scores have also been calculated by independent researchers, for example, for the mobile phones sector, higher education, and electronic mail.

The Kano model is a theory of product development and Consumer satisfaction developed in the 1980s by Professor Noriaki Kano that classifies Consumer preferences into five categories: Attractive, OneDimensional, Must-Be, Indifferent, Reverse. The Kano model offers some insight into the product attributes which are perceived to be important to Consumers. SERVQUAL or RATER is a service-quality framework that has been incorporated into Consumer-satisfaction surveys (e.g., the revised Norwegian Consumer Satisfaction Barometer) to indicate the gap between Consumer expectations and experience. J.D. Power and Associates provides another measure of Consumer satisfaction, known for its top-box approach and automotive industry rankings. J.D. Power and Associates' marketing research consists primarily of consumer surveys and is publicly known for the value of its product awards. Other research and consulting firms have Consumer satisfaction solutions as well. These include A.T. Kearney's Consumer Satisfaction Audit process, which incorporates the Stages of Excellence framework and which helps define a companys status against eight critically identified dimensions. For Business to Business (B2B) surveys there is the Info Quest box. This has been used internationally since 1989 on more than 110,000 surveys (Nov '09) with an average response rate of 72.74%. The box is targeted at "the most important" Consumers and avoids the need for a blanket survey. In the European Union member states, many methods for measuring impact and satisfaction of e-government services are in use, which the eGovMoNet project sought to compare and harmonize. These Consumer satisfaction methodologies have not been independently audited by the Marketing Accountability Standards Board (MASB) according to MMAP (Marketing Metric Audit Protocol).

RESEARCH METHODOLOGY MEANING OF RESEARCH METHODOLOGY

Research methodology is a way to systematically solve the research problem. A researcher has to study the research problem along with the logic in it for that the researcher should not only known the research methods and techniques but also the methodology. The researcher has to apply particular research techniques in the problems and he should also known which method or techniques is relevant or not so that, means, it is necessary for the researcher to design his methodology for his problems as the so may differ from problem to problem.

RESEARCH DESIGN
A sample design is a definite plan for obtaining a sample from a given population. It refers to the technique or the procedure the researcher would adopt in selecting items for the sample, sample design may as well lay down the number of items to be included in the sample i.e., the size of the sample. Sample design is determined before data are collected. There are many sample designs from which a researcher can choose. Some design are relatively more precise and easier to apply than others. Researcher must select prepare sample design which should be reliable and appropriate for his research study. QUESTIONNAIRE

The term questionnaire refers to a self-administered process whereby the respondent himself/herself reads the question and records his/her answers

without assistance of an interviewers. It is more highly structured and standardized. TYPES OF DATA USED The data collection process begins after a research problem has been defined and research design plan had been chalked out. The data collection is mainly of two types.

PRIMARY DATA The primary data are those which are collection a fresh and for the first time and thus happen to be original in character. The collection of primary data is done through indirect communication with the employees. SECONDARY DATA The secondary data, on the other hand, are those which have already been collected by someone else and which have already been passed through the statistical process. Secondary data collection from the information maintained by the human resource department, websites and other records.

FORMULA FOR WEIGHTEDAVERAGE METHOD WEIGHTED AVERAGE=XW/X

SAMPLING
The research is conducted by considering only few units of population is called sampling. It involves any procedure using a small number of items of pairs of the whole population to make conclusion regarding the whole population. The sampling technique adopted in the current study is convenient sampling SAMPLE SIZE The sample size for the survey is 120 for TVS SCOOTY PEP +with AKSHAY MOTORS. DATA ANALYIS After collecting the data it was analyzed with the help of various statistical tools STATISTICAL TOOLS Percentage method Chi-Square Weighted average method

DATA ANALYSIS AND INTERPRETATION

CHART NO.1 TYPE OF CONSUMERS

percentage of respodants

student house wife retired others

INFERENCE: From the above table we can see that 47% of students are using scooty pep+ and 33% includes others which can be said as employed, professionals etc. and 33% of other population uses, 17% of housewives uses and 3% retired population. Thus we can conclude the majority of population who are students uses scooty pep+.

CHART NO.2 FACTORES CONSIDERED WHILE PURCHASE

percentage of respodants
40 35 30 25 20 15 10 5 0 Mileage Fashion Price Others

INFERENCE: The above table shows that37% of respondents consider mileage on purchase,30% consider fashion and 20% consider price and 13% consider other factors. Thus we can conclude majority of the respondents consider mileage on their purchase.

CHART NO.3 CONSUMERS PERCEPTION ON BRAND OF TWO WHEELERS

percentage of respodants

17

17 0 Activa access Scooty pep+ Others

66

INFERENCE:

The above table shows that 17% of the population perceives Activa and 66% of population perceives Scooty Pep+ and 17% are the others.

CHART NO.4 BASIS OF PURCHASES

percentage of respondents

10 Cash 27 55 Credit Hire purchese others 10

INFERENCE: The above table shows that 55% people buy on cash basis and 27% of respondents buy on hire purchase 10% respondents buy on credit basis and 10% on other ways. Thus we can conclude 53% of people do purchase on cash basis.

CHART NO.4 LEVEL OF SATISFACTION TOWARDS MILEAGE

percentage of respondants
70 60 50 40 30 20 10 0 Highly satisfied satisfied disappointed not satisfied

INFERENCE: From the above table we can find 67% respondents are satisfied with the mileage, 20% are satisfied and 13% of the people are disappointed. Thus we can say only 20% of respondents are highly satisfied.

CHART NO.6 RESPONDENTS INTEREST TOWARDS SALES PROMOTION percentage of respoandants

40 35 30 25 20 15 10 5 0 Test Ride Contest Exchange Others

INFERENCE: From the above table we can see that the test ride plays a vital role which is 40%, contest is 17%, exchanges are 23% and others are 20%. So the consumers are expecting test ride while making a purchase and this is a good sales promotional factor.

CHART NO7 : LEVEL OF SATISFACTION TOWARDS SERVICE PROVIDED BY TVS MOTORS

percentage of respoandants
60 50 40 30 20 10 0 definitly yes yes generally average below average

INFERENCE:

The above table shows that the 17% of the population only getting their expected service and 53% get normal and 30% says it is only average.

Thus, this again impose that TVS MOTORS have to improve in their consumer services.

CHART NO.8 MEDIA IMPRESSED THE RESPONDENTS TO BUY

percentage of respoandants
50 45 40 35 30 25 20 15 10 5 0 Television Newspaper Internet Banners

INFERENCE:

This table shows that 47% of the people got to buy through television, 30% of people throughnewspaper, 10% of people through internet and 13% through banners.

Hence the television has acted as a best medium through which the consumers wanted to buy the vehicle.

FINDINGS OF THE RESEARCH

FINDINGS
From this survey we found that most of the consumers are the students and housewives. It is found that most of the consumers are considering colour in their purchase. The majority of the consumers buy their vehicle in the mode of cash because on credit basis the EMI is charged high. It is found that the weight of the vehicle plays a vital role because it is very easy to handle. The consumers are motivated by the test drive before the purchase. Most of the consumers are expecting good service from the TVS service centers in the near future. Consumers are satisfied with the CC power of Scooty Pep+. It has been found that the Television is the effective media through which they are aware of TVS bikes. It has been found that switching of brands are less.

The consumers have said that the communication and responsiveness of the TVS consumer service representative is average The consumer has suggested that the delivery of vehicle should be faster. The survey also says that the performance of the scooty is good and satisfactory.

SUGGESTIONS AND RECOMMENDATIONS

RECOMMENDATION AND SUGGESTIONS The Company should continue creating awareness through mass media as it has the maximum response. It is recommended that the service should also be good in TVS service centres. The sale promotional activities should also be more attractive so that it increases the sales. The time duration for the delivery of the vehicle should be reduced.

 They should concentrate more on the servicing part. It is suggested that the buying process should be made easier.

CONCLUSION

Consumer satisfaction is an important aspect for determining the success of the products. Satisfaction is a kind of stepping away from an experience and evaluating it. One could have a pleasurable experience that caused dissatisfaction even though pleasurable, it was not as pleasurable as it was supposed or expected to be. So satisfaction or dissatisfaction is not an emotion it is the evaluation of the emotion. Thus, through consumer satisfaction the Company or a manufacturer can capture the potential market leading to the pinnacle.

BIBLIOGRAPHY MARKETING MANAGEMENT (2002 EDITION) PHILIP KOTLER STATISTICAL METHODS (30th EDITION) S.P GUPTA www.scribd.com www.google.com

www.wikipedia.com