CUSTOMER PREFERENCE PROJECT REPORT MBA 3rd Sem 2022
CUSTOMER PREFERENCE PROJECT REPORT MBA 3rd Sem 2022
CUSTOMER PREFERENCE PROJECT REPORT MBA 3rd Sem 2022
Submitted By-
Priyansh Agrawal
MBA III SEM Roll No. 20118990
(Batch- 2020-22)
Gyan Ganga College of Technology , Jabalpur
Submitted To
Year- 2021
GYAN GANGA COLLEGE OF TECHNOLOGY
FORWARD
DIRECTOR
MBA
CERTIFICATE OF THE COMPANY
GYAN GANGA COLLEGE OF TECHNOLOGY
DECLARATION
Date Signature-
Place- _______________
Priyansh Agrawal
ACKNOWLEDGEMENT
It is with the sense of gratitude; I acknowledge the efforts of several people who have
helped me directly or indirectly to conduct this Project work.
I would like to thanks Mr. Alok Gupta(Training Guide) without whom I would have not
got this exposure of learning.
Words fail to express adequately my feeling of deep sense of gratitude which I owe from
deep of my heart to (Director MBA), Mr. Vikas Thakur(Guide) and all the faculty
members for their valuable support and counseling, constant help and guidance without
which the completion of the Project would not have been possible.
I am grateful to my parents who brought me up with love and encouragement to this
stage and have always stood beside me as my pillars of strength and guidance.
And last but not the least I would like to thank almighty who has always guided me to
walk on the right path of life.
Priyansh Agrawal
INDEX
EXECUTIVE SUMMARY
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In today scenario, every company wants to compete with others to remain in the
market. So it is very necessary for the company to know what are the needs and
wants of the customer, what is the preference of customer. It is very important for a
company to know which product is preferred by the customer on which basis.
My study is all about this i.e. to study the preference of customer in selected vehicle
of Hyundai car on the basis of price, brand name, quality and after sales services and
find out the steps that a company can adopt to fight the competition.
In the earlier part of the project I have discussed about the Consumer & the
preference of consumer. I have also discussed about the introduction of the Hyundai
Motors India.
This research is carried out using primary data. The method that i have used is
questionnaire technique to get the data from the customer.
The sample size is of sixty three customer of Hyundai those are using the model of
Hyundai Creta.
From this study, I have found that Hyundai was having major market share in terms
of Hyundai Creta as comparison to others. There were major number of the people
those were having Hyundai Creta cars.
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INTRODUCTION OF THE STUDY
in human behaviour that have been following cyclical patterns throughout our
country's history. Just because we have entered a new era does not mean we have to
start from scratch when it comes to interpreting why certain consumers are loyal to
certain brands, and what type of factors influence these kinds of buying behaviour.
the consumer perceives that the brand offers the right product features, image, or level
of quality at the right price. Consumer behaviour is habitual because habits are safe
and familiar. In order to create brand loyalty, advertisers must break consumer habits,
help them acquire new habits, and reinforce those habits by reminding consumers of
the value of their purchase and encourage them to continue purchasing those products
in the future.
Brand awareness has key role in determining the behaviour of a buyer and it
has the final decision. Until a buyer has clear cut of view about the product he
never dare to purchase, where as awareness about a particular brand make him to take
The new business horizon will be the most challenging era for the most of the
companies delivering goods and services to the buyers directly through their network.
The increasing competition in the global markets will make the existence of the
individual. Moving from the historical perspective, modern marketing has taken on
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new dimension through various management approaches. Marketing was defined as
an exchange mechanism, in its early days and had been conceptualized as a function
of selling. The efficacy of marketing was largely related with the personal
salesmanship through advertising strategies for the consumer and industrial products.
However, with the recognition of the difference between marketing and selling,
concepts turned more scientific and analytical. Marketing is now defined as a blend of
and inspiration tops them all. new dimension through various management
and had been conceptualized as a function of selling. The efficacy of marketing was
largely related with the personal salesmanship through advertising strategies for the
consumer and industrial products. However, with the recognition of the difference
between marketing and selling, concepts turned more scientific and analytical.
create, maintain, protect, and enhance brands. Branding is the art and cornerstone of
marketing. The American Marketing Association defines a brand as: a name, term,
services of one seller or group of sellers and to differentiate them from those of
the consumer’s perceptions and feelings about the product’s commodity counterparts
is the consumer’s perceptions and feelings about the product’s attributed and how
they perform. Ultimately, a brand resides in the minds of consumers. A brand can be
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better positioned by associating its name with desirable benefits.
A brand is much more than a name, logo, colors, a tagline, or symbol. These
specific set of feature, benefits and services consistently to the buyers. The marketer
must establish a mission for the brand and a vision of what the brand must be and do.
on its benefit promise. The fact is that brands are not built by advertising but by the
an exchange mechanism, in its early days and had been conceptualized as a function
of selling. The efficacy of marketing was largely related with the personal
salesmanship through advertising strategies for the consumer and industrial products.
However, with the recognition of the difference between marketing and selling,
concepts turned more scientific and analytical. Marketing is now defined as a blend of
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ABOUT BRAND AWARENESS
the name of the brand of a certain category of a product. Thus, brand awareness is an
exercise of identification of the brand name under different conditions and, therefore,
the probability of a brand name coming to the consumer and the facility with which
this happens.
Awareness essentially means that customers know about the existence of the
brand, and also recall what categories the brand is in. The lowest level of awareness is
when the customers have to be reminded about the existence of the brand name, and
its being a part of the category. There after is the stage of aided recall, i.e., upon the
mention of the category, the customer can recognize the company’s brand from
among a list of brands. Then is the stage of unaided recall, where in a customer
mentions the company’s brand among a list of brands in the category. The highest
level of awareness is when the first brand that the customer can recall upon the
mention of the product category is the company’s brand. This is called top-of-mind
recall.
purchase not only in the aspects of the behaviour, but even at the effective level,
forming positive attitude towards the product that lead to buying of this product and to
consumers without experience of use of the product and stops experimentation with
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Band awareness is a dimension of brand equity that affects the decision of the
consumer both at the effective level and at the behaviour level. In the affective area, a
brand known by the consumers creates a feeling of pleasure and familiarity in them.
the product, which are in the origin of the creation of brand image.
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ABOUT CONSUMER PREFERENCE
CONSUMER PREFERENCES
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THE THEORY OF THE CONSUMER
While individual consumers may not give much thought to why they
prefer one product over another, for businesses and marketers who make a
living based on consumer demand, it is pretty much a science. In addition
to a product's price and its availability, knowing consumer preferences can
predict how likely a product is to sell and how much it can be sold for.
Preferences vary from one product to another and the components of those
products can each affect preference.
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Why Is Consumer Preference Important?
If, for example, your company makes dresses, knowing what women prefer in
a dress will help you determine which colors and fabrics will sell better
than others, as well as whether shorter hemlines will sell better than longer
hemlines. If your products are comparable to more expensive brands, you
may be able to sell them at a higher profit. On the other hand, if your
competitors offer similar dresses for less money that are also preferable to
yours, you may need to reduce production, change the design or reduce your
profit to ensure you aren't left with too much inventory at the end of the
season.
As the preference for one product over another increase, one product may
outsell the other even if the price is much higher. However, when the
preference is negligible, then price and availability become the determining
factors over which one will sell better.
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A Growing Taste for Activity
Younger Influencers
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A Need for Speed
Regarding the online shopping experience, one-week delivery times are now
passé. More consumers are developing a preference for nearly
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instant gratification. Supermarkets are now offering same-day delivery,
while Amazon is developing an army of drones that will be able to deliver
online purchases just as quickly. When it comes to the in-store shopping
experience, Amazon is also testing stores without cashiers. Shoppers simply
fill their baskets, and when they leave, the purchases are automatically scanned
and billed to the customers' phones.
To determine what consumers prefer, you have to give them similar products
to compare. When offering them two or more products to evaluate, each
product should be complete. Asking them to compare apples to oranges is fair,
but asking them if they would rather have six apples or two oranges is not.
One preference that does not change when evaluating commodities is that
consumers always prefer more to less. As well, if consumers prefer product A
over product B, and they prefer product C to product A, then it is always safe
to assume they prefer product C over product B, too.
Preference Tests
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Acceptance Tests
Ranking Tests
Difference Tests
As its name suggests, difference testing measures how well consumers can
tell the difference between two products. For example, if your company has
developed a new soda, you could ask consumers to compare it to a previous
version you sold, as well as to similar competitors’ sodas, for aspects like
sweetness. While this test itself doesn’t reveal preferences, it can provide
insight into products when used with any of the other tests.
Anyone selling consumer products must be aware of the demand for those
products and how consumer preference affects that demand. Small
business owners seldom have the budget to conduct thorough
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study panels, but there are other ways to determine consumer preference in
your market. Subscribing to trade publications and creating news alerts for
trends in your market online can help you leverage the studies that have been
conducted by larger organizations at no cost to you.
In addition to this, you should also examine how other preferences can
affect your business. For example, consumers always prefer faster delivery
over slower delivery times, as well as free shipping over extra shipping fees.
If you aren't in a position to offer free, next-day delivery, perhaps you can
offer a choice to your customers: free delivery in one week, or next-day
delivery for an additional $5 charge.
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COMPANY PROFILE
Hyundai Motor India Limited was formed on 6 May 1996 by the Hyundai
Motor Company of South Korea. When Hyundai Motor Company entered
the Indian automobile market in 1996 the Hyundai brand was almost
unknown throughout India. During the entry of Hyundai in 1996, there
were only five major automobile manufacturers in India, i.e. Hyundai,
Hindustan, Premier, Tata and Mahindra. Daewoo had entered the Indian
automobile market with Cielo just three years back while Ford, Opel and
Honda had entered less than a year back.
For more than a decade till Hyundai arrived, Hyundai had a near monopoly
over the passenger cars segment because Tata Motors and Mahindra &
Mahindra were solely utility and commercial vehicle manufacturers, while
Hindustan and Premier both built outdated and uncompetitive products.
History
HMIL's first car, the Hyundai Santro was launched on 23 September 1998
and was a runaway success. Within a few months of its inception HMIL
became the second largest automobile manufacturer and the largest
automobile exporter in India. Hyundai Motor India Limited (HMIL) is
a wholly owned subsidiary of Hyundai Motor
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Company (HMC), South Korea and is the largest passenger car exporter
and the second largest car manufacturer in India.
HMC has set up a research and development facility (Hyundai Motor India
Engineering – HMIE) in the cyber city of Hyderabad.
As HMC's global export hub for compact cars, HMIL is the first
automotive company in India to achieve the export of 10 lakh cars in just
over a decade. HMIL currently exports cars to more than 87 countries. It
has been the number one exporter of passenger cars of the country for
the eighth year in a row. To support its growth and expansion plans, HMIL
currently has 1200 strong dealer network and more than 1,309 strong
service points across India.
In July 2012, Arvind Saxena, the Director of Marketing and Sales stepped
down from the position after serving the company for seven years. In
August 2018, Rakesh Srivastava, Director of Sales and Marketing at
Hyundai India, resigned from his position after serving for six years.
On 4 December 2018, Hyundai Motor India Ltd, announced the top level
management changes with immediate effect. Seon Seob Kim assumed the
responsibilities of MD and CEO from Young Key Koo.
Manufacturing facilities
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plants in Irungattukottai , Sriperumbudur increased to 7,40,000 cars per
year.
R&D centre
Regional headquarters
Hyundai Motor India led by SS Kim will oversee the operations of the brand
in the regional market.
The India centre located at Faridabad, Haryana will conduct durability studies
of existing models and benchmark parts and systems for constant
improvement.
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Current models
Current model
Introduced in
Model Update
India Introduction
(facelift)
Hatchback
2013 2017
GRAND i10
i10 2007
GRAND
2019 -
i10
NIOS
i20
i20 2008 2020 -
Sedan/Liftback
AURA
Aura 2020 2020 -
Verna 2006 2017 2020
VERNA
V 2019 2019 -
VENUE e
n
u
e
Al 2021 2021 -
ALCAZAR ca
za
r
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OBJECTIVE OF THE STUDY
To know what position does the brands has in the minds of customers.
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RESEARCH METHODOLOGY
Descriptive Research
A researcher should think about the way in which he should proceed in attaining his
objective in his research work. He has to make a plan of action before starting the
research. This plan of study of a researcher is called the research design. Descriptive
research design is used for this study. Descriptive research design is used to those
studies which are concerned with characteristics of a particular individual or a group
Primary data
Primary data are those which are collected for the first time which is original in
character. They are collected directly and are reliable. The primary data was collected
through a well structured questionnaire.
Secondary data
Secondary data is those which have already been collected by someone else.
Secondary data has been collected from company records, text books, websites etc
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SAMPLING TECHNIQUE
In this study, systematic random sampling was used for selecting samples. The
list of population was given by the company.
SUMMARY
Data source : Primary and secondary
Research approach : Survey method
Research instrument : Questionnaire
Sampling plan : Sample unit (office & residence)
Sample size : 63 Creta Owners
Sample area : Jabalpur City
Contact method : Personal Contact
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DATA ANALYSIS AND INTERPRETATION
Gender
50
45
40
35 Male, 46
30
25
20
15
10
5
0
Female, 17
MaleFemale
INTERPRETATION:
As stated in the study, there were 63 respondents is the sample selected for the study.
Out of them, 46 (73%) were male and 17(23%) were female.
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Q2. Age of the respondents ?
60
50
40
30
%
No. of
20
10
0
18-25 25-35 35-45 45& above
INTERPRETATION:
The above chart concludes that, out of the 63 samples of the study, 8 were (12%)
between the age 18-25, 35were (56%) between 25-35, 13 were (21%) between 35-45,
and 7 (11%) were 45 and above.
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Q3. Profession of the Respondents ?
60
50
40
30 %
20
10
0
Business Professional Student Employee
INTERPRETATION
Among the 63 samples taken for the study, 36 respondents (57%) were found as
business men, 13 (21%) as professional, 13 (8%) as student and 9(14%) as employee.
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Q4. Are you satisfied the location of Hyundai Franchise ?
45
40
35
30
25
20
15
41
10
5 9
0 4 7
2
Highly satisfiedSatisfiedCan’t sayDissatisfiedHighly
Dissatisfied
INTERPRETATION:
From above chart we can understand that, out of 63 samples of the study 65% are of
the opinion that they are highly satisfied with the location of Hyundai Franchise
Jabalpur. 14% of them revealed only satisfaction where 3% can’t rate it. Only 7%
opinioned as dissatisfaction, 11% found highly dissatisfied
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Q5. What the sources of information about Hyundai
Franchise ?
35
30
25
20
%
15
10
INTERPRETATION:
The chart shows that, out of 63 samples, 15% of them came to know about company
by themselves.32% via family, 19% via advertisement, 17% via friends and 17%
through others.
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Q6. Are you satisfied with the style and comfort of Hyundai
Creta ?
30
25
20
15
25
22
10
7
9
5
0 0
Highly satisfied Satisfied Can’t say DissatisfiedHighly Dissatisfied
INTERPRETATION:
Above chart shows that, out of 63 samples of the study 40% are of the opinion that
they are highly satisfied with the new owned Hyundai Creta. 35% of them revealed
only satisfaction where 11% can’t rate it. Only 14% opinioned as dissatisfaction, no
one found highly dissatisfied.
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Q7.. Do you think that the Price of the Hyundai Creta is
satisfactory?
40
35
30
25
20
35
15
10
19
5
7
0 2 0
Very High High Medium Low Very Low
INTERPRETATION:
The above chart shows that out of 63 samples of the study, 11% responded that the
price of car is very high. 30% opinioned as high, where, about half of the samples
(56%) responded as medium. 3% pointed as low and no one replied very low.
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Q8. Are you satisfied with the Mileage of Hyundai Creta ?
25
20
15
10 21
22
11
5
7
2
0
Excellent Good Average Poor Terrible
INTERPRETATION:
This chart tells us about the opinion of the samples. Out of 63, 18% of them viewed as
excellent, 35% as good, 33% as average, and 11% as poor and as 3% terrible. This
denotes that, majority of them has the opinion that the mileage is good.
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Q9. Do you agree with with the Maintenance Cost of Creta?
25
20
15
10 18 21
12
5
6
6
0
Strongly agree Agree Can’t say SomewhatStrongly Disagree
disagree
INTERPRETATION:
This chart shows the samples’ responds about the maintenance cost of the car they
owned, Hyundai Creta. Amongst the 63 samples, 29% of them strongly agreed that
it’s very low. 33% as agree, 9% as can’t say, 19% as somewhat disagree and 10% has
the opinion that, they are strongly disagree of the maintenance cost is low.
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Q10. How did you find advertisment of Hyundai?
30
25 28
20
23
15
10
6
5 3 3
0
Very good Good Neutral Bad Poor
INTERPRETATION:
This chart is about the responds of samples about publicity. Majority (44%) has the
opinion that the publicity of the car is very good. 36% says as good, 5% as neutral.
Only 5% has the opinion as bad and as poor was marked by only 10%.
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Q11. Are you satisfied with the comfortness of Hyundai Creta
?
25
20
15
23
10 17
11
5
8
4
0
Strongly agree Agree Can’t say SomewhatStrongly Disagree
disagree
INTERPRETATION:
This chart contains the data about comforts of the car. 27% has strongly agreed the
assumption. 37% of them agreed, 17% replied as can’t say. 13% showed as
somewhat disagree and 6% disagreed strongly.
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Q12. What is the satisfaction level of after sales services of
Creta?
30
25
20
27
15
10
24
5
8
4
0 0
Very High High Medium Low Very Low
INTERPRETATION:
From above chart, we can understand that out or 63 samples, about half (38%) of
them have very high opinion about the quality of car. 43% showed high where only
6% indicated as medium and 13% as low. There was no opinion as very low.
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Q13. Are you satisfied with the looks & shape of Hyundai
Creta over its competeter?
35
30
25
20
15 29
10
19
5
10
4
1
0
Excellent Good Average Poor Terrible
INTERPRETATION:
This chart concludes that, out of 63 samples, 30% are with opinion that the car’s
design is excellent, 46% viewed as good, 16% as average. 6% opinioned as poor and
only 1% has the view of terrible.
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Q14. Do you ever contacted by the dealer regarding
feedbacks, schemes, offers, exchange and other festive
offers?
60%
50%
40%
30%
10% 6%
0% 0
0%
Strongly agree Agree Can’t say Somewhat Strongly
disagree Disagree
INTERPRETATION:
From above chart, we can understand that 56% of the samples have strongly agreed
for this question.38% only agreed and only 6% has the some what disagree. No one
opinioned as can’t say and strongly disagree
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Q15. Do you ever recommend Hyundai Creta to your friends
and relatives?
70%
64%
60%
50%
40%
30%
28%
20%
10%
6%
2%
0%
0%
Definitely Probably Maybe Probably not Definitely not
INTERPRETATION:
The chart tells that, when the samples were asked whether they recommend the
product or not, 64% answered that definitely do, 28% answered probably and 6%
replied probably not.2% has no assurance and no one found as definitely not.
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Q16. Please rate the Service of Hyundai Franchise ?
60%
50%
40%
53%
30%
41%
20%
10%
6%
0% 0% 0%
Excellent Good Average Poor Terrible
INTERPRETATION:
This chart shows that, out of 63 samples, 53% of them replied as excellent about the
service of the company. 41% indicated as good and 6% as average. There couldn’t
fine any one who has the opinion of poor and terrible
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FINDINGS
Buying behaviour is dependent of brand awareness.
customer’s purchase
The brand has great position in the minds of customers which had reflected in
their consumption
Customers got awareness about the brand via friends, media and etc.
Majority of the customers are highly satisfied with the brand offered by Hyundai
Out of 63 samples, 53% are of the opinion that, service offered by the company
The most one who purchased this car was business men (57%)
brand(Hyundai Creta),
66% of the samples are highly satisfied with the current locality of Hyundai
Franchise,
About the price of car, 49% has the opinion that it’s medium. Only 18% noted
as very high,
18% viewed that mileage of car is excellent, 35% as good and 33% as average,
About the maintenance cost, 29% has strong opinion as it is low, where 33%
have a medium,
Majority (44%) are of the opinion that my car has very good publicity,
27% of the respondents have strong opinion that they got more comfortable than
they expect, 37% of them are not away from their opinion,
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SUGGESTION
As analyzed from the above study it has in found that 65% of respondents like
Cutting of Salary even they are late for 5 minutes in 3 days is discriminated.
Lack of space in showroom premises if the customers are more during festive
season.
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CONCLUSION
As customers, we buy a lot of things every day. We buy, not only after having any pre
assumption about the product but also having nothing. Needs must be fulfilled. People
go any where to get his dreams come true. In such a time, all business leaders are
striving hard to get more customers and spare no effort to get them satisfied.
The era is not like past. Customers are the leaders of the business, not the company.
The customer will decide to make a product success or not. They are the key players.
So that, every companies are running behind these customers offering them large
priorities and convincing them its peculiarities. Building brands, quality, image are
the short cut to it.
Today majority has a brand oriented life. If any one satisfied with a brand, he will be
continuing with the same. In such a time, every brand had to try best to put awareness
about it. Hyundai has great such effects on customers which had help to increase their
sales.
Hyundai Franchise is one of the finest dealers of Hyundai in India. They have a good
scale of sales every year and they provide a good piece of services to them. This study
has impartial results on its findings so that it can be conclude that brand awareness
has a great range of influence on buying behaviour.
The overall scope of the present study considers all the variables and factors that have
major impact over the customers in considering particular brands. This especially
included how a customer regally evaluate recognizes the brand and what position
particular brand occupies in the customer mind.
This includes how a customer gets attracted towards the brands and what makes a
brand highly significant over their competitive brand. The study includes how brand
awareness among potential customers can be maintained and improves.
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BIBLIOGRAPHY
WEBLIOGRAPHY
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ANNEXURE
Q6. Are you satisfied with the style and comfort of Hyundai Creta ?
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Q7.. Do you think that the Price of the Hyundai Creta is satisfactory?
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Q10. How did you find advertisment of Hyundai?
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Q13. Are you satisfied with the looks & shape of Hyundai Creta over its
competeter?
Q15. Do you ever recommend Hyundai Creta to your friends and relatives?
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Q16. Please rate the Service of Hyundai Franchise ?
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