Hdfc Bank Project

A Project report On PROCESS OF HOME LOAN FINANCING BY BANK UNDERTAKEN IN HDFC BANK LTD. As partial fulfillment for the award of MBA degree under B. R. Ambedkar Agra University Agra U. P. ( 2007 – 09) Under the guidance of: Mr. Vivek Drivedi Submitted By Km. Krishna Jaiswal Roll No- 22 SETH PADAM CHAND JAIN INSTITUTE OF COMMERCE BUSINESS MANAGEMENT & ECONOMICS, AGRA 1 CERTIFICATE To whom it may concern This is to certify that Km. Krishna Jaiswal, Roll No. 22 of MBA is a Bonafide regular student of Seth Padam Chand Jain Institute of Commerce Business Management & Economics, Agra for the session 2007-09.

She has completed the summer training project report entitled “PROCESS OF HOME LOAN FINANCING BY BANK” in the organizations HDFC Bank Ltd. as a part fulfillment for the award of MBA degree under B. R. Ambedkar Agra University Agra U. P. I find the research report is up to standard and original one. Executive Director 2 CERTIFICATE To whom it may concern This is to certify that Km. Krishna Jaiswal, Roll No. 22 of MBA is a Bonafide regular student of Seth Padam Chand Jain Institute of Commerce Business Management & Economics, Agra for the session 2007-09.

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She has completed the summer training project report entitled “PROCESS OF HOME LOAN FINANCING BY BANK” in the organizations HDFC Bank Ltd. as a part fulfillment for the award of MBA degree under B. R. Ambedkar Agra University Agra U. P. I find the research report is up to standard and original one. Mr. Vivek Drivedi Project Supervisor 3 DECLARATION I hereby declare that I have carried out Summer Training Project on the topic entitled “Process of Home Loan Financing by Bank” at Seth Padam Chand Jain Institute of Commerce Business Management & Economics, Agra.

I further declare that this project work is based on my original work and no part of this project has been published or submitted to anybody. Krishna Jaiswal 4 CONTENTS Acknowledgement Executive Summary Theoretical Concepts Introduction/ Statement of Problem Scope of the Study & Importance of the Study Objective of the Study Research Methodology Introduction of the Organization Data Presentation & Analysis Findings of the Study Recommendations Bibliography Appendix 5 ACKNOWLEDGEMENT I, Krishna Jaiswal, MBA Student in SPCJ Institute of Commerce Business Management & Economics, Agra is highly greatful to all those who guided e in completing this project. First of all, I would like to pay my heartiest thanks to especially Mr. Naveen (Operation Manager) HDFC Bank Ltd. , Gorakhpur who provided me such a wonderful opportunity to do Summer Training and provided their valuable suggestions in understanding the work of Research Project. Last but not the least, I would like to thanks all faculties of SPCJ Institute of Commerce Business Management & Economics, Agra, who gave me the useful tips and suggestions regarding project. I would like to thanks my project supervisor, Mr. Vivek Drivedi for imparting her valuable guidance to me.

Words can never express the deep sense of gratitude, I feel for our MBA Coordinator, Mr. Neeraj Gupta, who has been a constant source of inspiration and encouragement for me. KRISHNA JAISWAL MBA-3rd SEM. 6 EXECUTIVE SUMMARY 7 EXECUTIVE SUMMARY Summer training is an integral part of MBA program it helps the student to understand the practical aspect of financing. To understand the important aspect of financing, I choose HDFC Bank Ltd. Gorakhpur For my training, which is hard core financing company. In the summer training my project topic was “Customer Profiling and Purchase Parameters”.

My project aim to know the factors which influences the purchase decision of customer regarding their vehicles. Maruti udyog limited (MUL) was established in feb. 1981 through an act of the parliament to meet the growing demands of personal modes of transport caused by the lack of an efficient public transport system. Suzuki motor company was chosen from seven prospective partners worldwide. this was due not only to their undisputed leadership in small cars but also to their commitment to actively bring to MUL contemporary technology and japans management practices.

A license and and a joint venture agreement was signed between Govt. of India and Suzuki motor company in October . 1982 8 My objective in this two months summer training is to study the factors which influences a customers to make their purchase decision regarding personal motor vehicles. The main objective of my survey is :- ? to find out the general impression of customer towards maruti Suzuki and analyze its problems and find out possible solutions to rectify their problems ? The most effective media of promotion. ? The marketing situation of MARUTI SUZUKI in Gorakhpur. To know the Purchase Parameters of Customers. Purpose This report aims to understanding the changing dynamics of Automobiles Industry in India. This report also aims aligning the MARUTI SUZUKI practices, with the best available practices of industry. Methods Descriptive approach – Questionnaire Exploratory approach – Informal Interview, Web search For information about Indian dairy market – Search through Internet For market dynamics in Gorakhpur market – Survey Methodology Including questionnaire + Informal interview. 9 THEORETICAL CONCEPTS 10 THEORETICAL CONCEPTS MARKETING MIX

Meaning and Definition Marketing Mix means to collect and mix the resources of marketing in the manner that objects of the enterprise may be achieved and maximum satisfaction may be provided to the consumers. The term marketing mix is used to describe a combination of four elements – the product, price, physical distribution and promotion. These are popularly known as “Four P’s”. A brief description of the four elements of marketing mix (Four P’s) is. ? Product : The product itself is the first element. Products most satisfy consumer needs. the management must, first decide the products to be produced, by knowing the needs of the consumers. Price : The second element to affect the volume of sales is the price. The market or announced amount of money asked from a buyer is known as basic value placed on a product. ? Promotion : The product may be known to the consumers. Firms must undertake promotion work-advertising, publicity, personal selling etc. which are the major activities. 11 ? Place : Physical distribution is the delivery of products at the rights time and at the right place. The distribution mix is the combination of decisions relating to marketing channels, storage facility, inventory control, location transportation warehousing etc.

Marketing Mix Place Product Product variety Quality Design Features Brand Name Packaging Sizes Services Price List price Discounts Allowances Payment period Credit cards Promotion Sales promotion Advertising Sales force Public relations Direct marketing Channels Coverage Assortments Locations Inventory Transport 12 Consumer Behaviors What is Consumer Buying Behaviors? Definition of Buying Behaviour, Buying Behaviour 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 Behaviour refers to the buying behaviour of the ultimate consumer. A firm needs to analyze buying behaviour for: ? Buyers’ 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. 13 ? Marketers can better predict how consumers will respond to marketing strategies.

CONSUMER BEHAVIOR Consumer behavior is the study of the behavior of consumers, when they go to purchase something to satisfy their needs and wants. Buying Motives A motive can be defined as a drive or an urge for which an individual seeks satisfaction. It becomes a buying motive when the individual seeks satisfaction through the purchase of something. Behavior is a goal activity. Motive / Need (Hungry) Goal (Preparing) Goods (Food) Behavior Goal achievement (Eating) Factors Influences Consumer Behavior Consumer’s behavior is influenced by cultural, social, personal, and psychological factors.

Cultural factors exert the broadest and deepest influence. 14 Cultural Factors : Culture, subculture, and social class are important in buying behavior. 1. Culture : Culture is the most fundamental determinant of a person’s wants and behavior through his or her family and other key insinuations. A child growing up in the United States is exposed to the following values : achievement and success, activity, efficiency and practicality, progress, material comfort, individualism, freedom, external comfort, humanitarianism and youthfulness. 2.

Subculture : Each culture consists of smaller that provide more specific identification and socialization for their members. Subculture include nationalities, religions, racial groups and geographic regions. Many subcultures make up important market segments, and marketers often design products and marketing programs tailored to their needs. 3. Social Class : Virtually all-human societies exhibit social stratification. Stratification sometimes takes the form of a caste system where the members of different castes are reared for certain roles and cannot change their caste membership. (II)

Social factors : In addition to cultural factors, a consumers behavior is influenced by such social factors as reference groups, family, and social roles and statuses. 1. Reference Groups : A person’s reference groups consist of all the groups that have a direct (face-to-face) or indirect influence on the person’s attitudes or behavior. 2. Family : The family is the most important consumer buying organization in society, and it has been researched extensively. Family members constitute the 15 most influential primary reference group. We can distinguish between two families in the buyer’s life. 3.

Roles and Statuses : A person participates in many groups – family, clubs, organizations. The person’s position in each group can be defined in terms of role and status. (III) Personal Factors A buyer’s decisions are also influenced by personal characteristics. These include the buyer’s age and stage in the life cycle, occupation, economic circumstances, lifestyle and personality and self-concept. ? Age and stage in the cycle : People buy different goods and services over a lifetime. They ear baby food in the early years, most foods in the growing and mature years, and special diets in the later years.

Taste in clothes, furniture and recreation is also age related. Consumption is shaped by the family lifecycle. Some recent work has identified psychological life-cycle stages. Marketers pay close attention to changing life circumstances – divorce, widowhood, remarriage – and their effect on consumption behavior. ? Occupation and economic circumstances : Occupation also influences a person’s consumption pattern. A blue-collar worker will buy clothes, work shoes, and lunchboxs. 16 ? Lifestyle : People from the same subculture, social class and occupation may lead quite different lifestyles.

A lifestyle is the person’s pattern of living in the world as expressed in activities, interests and opinions. ? Personality and self – concept : Each person has a distinct personality that influences buying behavior. ? Psychological Factors : A person’s buying choices are influenced by four major psychological factors-motivation, perception, learning and beliefs and attitudes. (i) Motivation : A person has many needs at any given time. Some needs are biogenic; they arise from physiological states of tension such as hunger, thirst, discomfort. (ii) Perception : A motivated person is ready to act.

How the motivated person actually acts is influenced by his or her perception of the situation. (iii) Learning : When people act, they learn. Learning involves changes in an individual’s behavior arising from experience. Most human behavior is learned. Learning theorists that learning is produced through the interplay of drives, stimuli, cues, responses , and reinforcements. 17 Beliefs and Attitudes : Through doing and acquire beliefs and attitudes. These in turn influence buying behavior. A belief is a descriptive thought that the person holds about something.

Stages of the Consumer Buying Process 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 de2ree of complexity… discussed next. The 6 stages are: 1. Problem Recognition (awareness of need)–difference between the desired state and the actual condition. Deficit in assortment of products. Can be stimulated by the marketer through product information– I. E. see a commercial for a new pair of shoes, stimulates your recognition that you need a new pair of shoes. 2. Information search? Internal search, memory. ? External search if you need more information. Friends and relatives (word of mouth). Marketer dominated sources; comparison shopping; public sources etc. A successful information search leaves a buyer with possible alternatives. 3. Evaluation of Alternatives needs to establish criteria for evaluation, features the buyer wants or does not want. Rank/weight alternatives or resume search. May decide 18 that you want to eat something spicy.

If not satisfied with your choices then return to the search phase. Can you think of another alternative? Look in the yellow pages etc. Information from different sources may be treated differently. Marketers try to influence by “framing” alternatives. 4. Purchase decision–Choose buying alternative, includes product, package, store, method of purchase etc. 5. Purchase May differ from decision, time lapse between 4 & 5, product availability. 6. Post-Purchase Evaluation–outcome: Satisfaction or Dissatisfaction. Cognitive Dissonance, have you made the right decision.

This can be reduced by warranties, after sales communication etc. Types of Consumer Buying Behaviour Types of consumer buying behaviour 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 19 Social risk ? Economic risk The four type of consumer buying behaviour are: ? Routine Response Programmed Behaviour — 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, and 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. In order to produce successful ads, you must give people exactly what they want. 20 This article will teach you why people buy the things they do so you can design your ads to fulfill these needs.

MODEL OF BUYING BEHAVIOUR Marketing Stimuli Product Price Place Promotion Other Stimuli Economy Political Cultural Technological Buyer’s Characteristic Cultural Social Personal Psychological Buyer’s decision process Problems recognition Information search Evaluation of alternatives Purchase decision Post purchase decision Buyer’s decision Product choice Brand choice Dealer choice Purchase timings Purchase amount 21 STAGES OF CONSUMER BUYING PROCES Problem recognition Information search Evaluation of alternatives Purchase decisions Post purchase behaviour 22 CONSUMER BUYING BEHAVIOR

High involvement Significant differences between brands Few differences between brands Complex buying behaviour Low involvement Variety-seeking buying behaviour Dissonance-reducing buying behaviour Habitual buying behaviour 23 INTRODUCTION OF THE PROBLEM 24 Introduction of the problem Its needs to be emphasized at the very outset that there is no unified, tested, and universally established theory of buyer behaviour. what we have today are certain ideas on buyer behaviour . some of these ideas have taken their cue from economics,others from psychology,and yet others have drawn simultaneously from several of social sciences.

Thus it is an attempt to study the consumer behaviour with the helps of some marketing concept. Under the two month summer training on the project,” customers profiling and purchase parameter” I have to analyse all the factors which influences the purchase pattern of a customer and all the factors that are responsible which forces a customer to switch over other company products. In maruti szuki,I have to notice all the factors which attract the customers and also have a close eye on the maketing strategy of the rival. hough the span of two month is not a long time to covers all the areas of Gorakhpur,however best effort have been made to make the report a original one. Thus study has been undertaken to know what are purchase parameters of customers or what are the main criteria, which a customer takes into considerations before making any purchase decisions. No doubt automobiles industry has been increasing rapidly, but the main fact is that how these industry are satisfying customers in case of personal mode of transport,in these category maruti Suzuki is a leading name not nly in India but also all over the world.

I face certain problems while completion of my project work which affected my report to a extent but even then I made my full effort to prepare and present effective report. 25 Problems are : ? The company limits projects area. ? Prickly heat season affected my working capacity, and restricted me to cover distant area entirely. ? Few Customer did not exhibit any interest to fulfill the questionnaires and interviews. ? It was not simply a questionnaires rather it also involves direct communication with the Customer as interviewing them, which was tedious as well as time consuming. 26 Scope And Importance Of The Study 27

Scope And Importance Of The Study The project aims to get the student out of the classroom and into the real world of companies/ competitors, markets, managers and customers. The project aims to get the student out of the passive mode of heavy lectures, hearing about other people last experience and into the active mode of theories for themselves in solving real problems in real and live companies. Describing the scope of particular project has different dimensions as it reveals different crisis situation and its solution; it is both way beneficial for researcher and for the manufacturer, service provider or the company.

Doing a good research involves collecting data from the genuine resource with proper implication that leads to the company for future orientation. Experience is a child of Thought and the Thought is a child of Action. An experience is a name every one gives to their mistakes. For a researcher, it opens the way for walking into experiences. The ultimate goal of a research is enormous with its true sense. Physically and practically, it shows the potential for the company and researcher. ? Scope: 1. The scope of project was to collect data from the selected area of GORAKHPUR and Analysis significance of collected data and the conclusion. 8 2. The scope of the project help in analyzing the factors, which influence the buying behaviour of consumers. 3. The scope is such that the study has been conducted by taking samples from different areas, which depicts the overall picture. 4. The result obtained can give an overview regarding the choice and Preference of consumers of MARUTI SUZUKI Vechiles. 5. The study can be helpful in taking decision so as to improve the quality and service. 6. The study can be help full in portray the role played at each levels in different areas. 7.

The study can also provide the idea about the market strategy adopted by company. Importance of Study: The main purpose of study is to know the purchase parameters of consumer regarding MARUTI SUZUKI cars. The survey was conducted in GORAKHPUR area not all but only some parts have included for survey. Due to shortage of time it was not possible to cover the whole areas. The customers of these areas were targeted to get the full information about the products. The interaction with the customers was through direct meeting, Phone calls were used for appointments with customers.

Thus the scope of the study was completed with the time and resources available. 29 OBJECTIVE OF THE STUDY 30 OBJECTIVE OF THE STUDY The study has been undertaken with following objectives. ? To know the factors which influences a customers to make their purchase decision. ? To know the general impression of customers towards maruti-suzuki ? To know the advertising & promotional policy of company ? To examine the marketing strategy of maruti udyog limited. ? To examine the factors which forces a customer to purchase other company cars. 31 RESEARCH METHODOLOGY 32 RESEARCH METHODOLOGY

Marketing Research is the backbone of marketing. The objective of my research is to CUSTOMER PROFILING & PURCHASE PARAMETERS. The nature of my research is exploratory research. It’s goals to shed light on the real nature of the problem and to suggest possible selection and its involves number of steps. I. Define the Problem & Research Objective: Management must define a problem in broader way. Because it is said that defining the problem is half solved and the objective of my research is to study the consumer perception about Maruti Suzuki in Indian consumer industry. II.

Develop the Research Plan The second stage of marketing research calls for developing the most efficient plan for gathering the needed information. Designing the research plan calls for decision on the data sources, Research Approaches, Research Instrumental, Sampling Plans & Contact Methods. (a) Data Sources I have collected my research data from secondary as well as primary sources from random sampling survey. 33 Primary Data primary data are those data which are collected for the first time and are fresh and thus these data happens to be original data in character.

Mostly in marketing research involves some primary data collection by the questionnaire Sample Size : 100 Sample Area : Gorakhpur Secondary Data Secondary data are those which have already been collected by some one else and which have already been passed through statistical process. Secondary data was collected by the books and websites. Magazines, Catalogue, Newspapers, Product Profile & Internet. (b) Research approaches Primary data can be collected into five ways – observations, focus groups, survey, behavioural data & experiments and here I have used survey research. TARGET MARKET

The target market of our study was mainly concentrated to the recent car buyer’s and the survey was conducted at the point of purchase. 34 METHODOLOGY The tool used for this research is questionnaire, administered and filled by interviewees. The questionnaire was typed and presented to respondents in an arranged manner. In this process the personal interview came very handy in explaining the respondents the exact list of questions or if they face any problem while answering the questionnaire or in clarifying any confusion they had. Personal interviews provided flexibility in the sense that the esearcher was able to provide further clarification or explanation whenever required. Following facts were kept in mind while preparation the questionnaire: 1. The questionnaire is in an easy language 2. Maximum questions are of multiple choice questions and there can be more than one answer for most of them 3. The comments and suggestions were open-ended questions so that the respondent could elaborate upon his thoughts 4. The size of the questionnaire is not too long. This is to make the job feasible both for the respondents and researcher THE RESEARCH

Aim: The aim of the research was to study the factors, which a customer perceives in a car and the sources as well as the knowledge, which the consumer employs in gathering information for the product he is planning to purchase. 35 Universe: The universe means the set of objects or population among which the research is to be conducted. The universes of this task constitute all the people who have recently purchased their cars. Sampling Procedure: The sample design adopted was questioning buyers at the point of purchase. RESEARCH Research in common parlance refers to a search for knowledge.

One can also define research as a scientific and systematic search for pertinent information on a specific topic. In fact research is an art of scientific investigation. The advance learner’s dictionary of current English lays down the meaning of research as “a careful investigation or inquiry especially through search for new facts in any branch of knowledge. OBJECTIVE OF RESEARCH— The purpose of research is to discover answers to questions through the application of scientific procedures. The main aim of research is to find out the truth which is hidden or which has not been discovered as yet. 6 The main objectives of research are as follows ? To gain familiarity with the phenomenon or to achieve new insight in to it. ? To portray accurately the characteristic of a particular individual, situation or a group. ? To determine the frequency with which something occurs or with which it is associated with something else. ? To test a hypothesis of a casual relationship between variables. RESEARCH PROCESS— Research process consists of series of actions or steps necessary to effectively carry out research and desired sequencing of these steps.

And the process of research can be defined by following steps- ? Formulating the research problem ? Extensive literature survey ? Development of working hypothesis ? Preparing the research design ? Determining sample design ? Collection of data ? Execution of project 37 ? Analysis of data ? Testing of hypothesis ? Interpretation ? Preparation of report 1. Formulating the research problem–Research problem can be formulated on the basis of nature and variables. Initially the problem may be stated in a broad way and than the ambiguities, if any, relating to the problem be resolved.

Then the feasibility of a particular solution has to be considered before a working formulation of the problem can be setup. Essentially two steps are involved in formulating the research problem, viz, understanding the problem thoroughly, and rephrasing the same in to maniple terms from an analytical point of view. The best way of understanding of problem is to discus it with once on colleagues or with those having some expertise in matters. In the academic institution the researcher can seek the help from a guide who is usually an experienced man and has several research problems in mind.

In private business units or in governmental organization, the problem is usually earmarked by the administrative agencies. 2. Extensive literature survey—Once the problem is formulated, it becomes compulsory for a research worker writing a thesis for a Ph. D. degree to write a synopsis of the topic and submit it to the necessary committee of the research board for approval. The researcher should undertake extensive 38 literature survey connected with the problem. For this journals and published bibliographies are the fist place to go to.

A good library will be a great help to the researcher at this stage. 3. Development of working hypothesis— After literature survey researcher should state in clear terms the working hypothesis or hypothesis. As such the manner in which research hypothesis are developed is particularly important since they provide the focal point for research. The development of working hypothesis plays an important role; it should be very specific and limited to the piece of research in hand because it has to be tested. It also indicates the type of data required and the type of methods of data analysis to be used.

How does one go about developing working hypothesis? The answer is by using the following approaches. I. Discussion with colleagues and experts about the problem, its origin and objectives in seeking a solution. II. Examination of data and records, if available, concerning the problem for possible trends, particularities and other clues. III. Exploratory personal investigation which involves original field interview on a limited scale with interested parties and individuals with a view to secure greater insight in to the practical aspects of the problem. 4.

Preparing the research design— The research problem having been formulated in clear cut terms, the researcher will be required to prepare a research design. The preparations of such a design facilitate to be as efficient as possible yielding maximal information. The purpose of research may be grouped in to four categories. 39 I. Exploration II. Description III. Diagnosis IV. Experimentation The preparation of research design, appropriate for a particular research problem, involves usually the consideration of the following I. The means of obtaining the information. II. The availability and skills of the researcher and his staff.

III. Explanation of the way in which selected means of obtaining information will be organized and the reasoning leading to the selection. IV. The time available for the research. V. The cost factor relating to research, i. e. the finance available for the purpose. 5. Determining sample design— For determination of sample design ,it can be presumed that in such an enquiry when all the items are covered no element of chance is left and highest accuracy is obtained even the slightest element of bias in such an enquiry will get larger and larger as the number of observation increases.

Hence, quite often be selecting only a few items from the universe for our study purpose. The items so selected constitute what is technically called a sample. The researchers must decide the way of selecting a sample or what is popularly known as the sample design . a sample design is a definite plan determined before any data are actually collected for obtaining a sample from a given population. Sample can be either probability sample or non probability sample. Probability sample are those based on simple random sampling , systematic sampling, cluster sampling where as non probability sampling are those 0 based on convenience sampling, judgment sampling and quota sampling technique. A brief mention of the important sample designs is as follows: I. Deliberate sampling— Deliberate sampling is also known as purposive or non-probability sampling. This sampling method involves purposive or deliberate selection of particular units of the universe for constituting a sample which represents the universe. When population or elements are selected for inclusion in the sample based on the ease of access, it can be called convenience sampling.

If a researcher whishes to ensure data from, say, Gasoline, buyers, he may select a fixed number of petrol stations and may conduct interview at these stations. This would be an example of convenience sample of Gasoline buyers. On the other hand, in judgment sampling the researcher’s judgment is used for selecting items which he considers as representative of the population. II. Simple random sampling— This type of sampling is also known as chance sampling or probability sampling where each and every item in the population has an equal chance of inclusion in the sample and each one of the possible samples.

For example, if we have to select sample of 300 items from a universe of 15000 items, than we can put the names or numbers of all the 15000 items on slips of paper and conduct a lottery. III. Systematic sampling— In some instances the most practical way of sampling is to select every 15 th name on a list, every ten hose on one side of street and so on. Sampling of this type is known as systematic 41 sampling. In such a design the selection process starts by picking some random point in the list and then every nth element is selected until the desired number is secured.

IV. Stratified sampling— If the population from which a sample is to be drown does not constitute a homogeneous group, then stratified sampling is applied. If the item selected from each stratum is based on simple random sampling the entire procedure, first stratification and then simple random sampling, is known as stratified random sampling V. Quota sampling— In stratified sampling the cost of taking random sample from individual strata is often so expansive that interviewers or simply given quota to filled from different strata.

Quota samples generally happen to be judgment samples rather than random samples. VI. Cluster sampling and area sampling— Cluster sampling involves grouping the population and then selecting the groups or the clusters rather than individual elements for inclusion in the sample, suppose some departmental stores wishes to sample its credit card holders. It has a suit its cards to 15000 customers. The sample size is to be kept say 450. For cluster sampling this list of 15000 holders could be formed in to 100 clusters of 150 card holders each. VII.

Multistage sampling— This is further development of idea of cluster sampling. Under multi stage sampling the first stage may be to select large primary sampling units such as states, then districts, then towns and finally certain families within towns. 42 VIII. Sequential sampling— This is some what a complex sample design where the ultimate size of the sample is not fixed in advance but is determined according to mathematical decisions on the basis of information yielded as survey progress. This design is usually adopted under acceptance sampling plan in the context of statistical quality control. ) Collecting of the data— Once the sample design is decided then it becomes necessary to collect data that are appropriate. There are several ways of collecting the appropriate data which is differ considerably in context of money cost, time and other resources at the disposal of the researcher. Primary data can be collected either through experiment or survey. If the researcher conducts and experiments, he observes some qualitative measurements, or the data, with the help of which he examines the truth contain in the hypothesis. But in the case of survey, data can be collected by anyone or more of the following ways.

By observation: – this method implies the collection of information by way of investigators own observation, relates to what is currently happening and is not complicated by either the past behavior or future intentions or attitudes of respondents. Through personal interview: – This method of collecting data is usually carried out in a structured way where output depends upon the ability of the interviewers to a large extent. 43 Through telephone interviews: – This method of collecting information involves contacting the respondent on telephone itself, when the survey has to be accomplished in a very limited time.

By mailing of questionnaires: – Questionnaires are mailed to the respondents with a request to return after completing the same. It is the most extensively used method in various economic and business surveys. Before applying the method, usually a pilot study for testing the questionnaires is conducted wh9ich reveals the weaknesses, if any, of the questionnaires. Through Schedules: – Under this method the enumerators are appointed and given training. These enumerators go to respondents with these schedules. Data are collected by filling up the schedules by enumerators on the basis of replies given by respondents.

Some occasional field checks on the work of the enumerators may ensure social work. 7. Execution of the project:Execution of the project is a very important step in the research process. If the execution of the project proceeds on correct line, the data to be collected would be adequate and dependable. The researcher should see that the project executed in a systematic manner and in time. If the survey is to be conducted by means of structured questionnaires, data can be readily machineprocessed. In such a situation, questions as well as possible answers may be coded.

The training may be given with the help of instruction manuals which explain clearly the job of the interviewers at each step. A careful watch should be kept for unanticipated factors in order to keep the survey as much realistic as possible. If some of the respondents do not co-operate, some suitable method should be design to tackle this problem. One method of dealing with a non response problem is to make a list of the 44 non respondents and take a small sub sample of them, and then with the help of experts vigorous efforts can be made for securing response. 8.

Analysis of data:After the data has been collected, the researcher turns to the task of analyzing them. The analysis of data requires a no. of closely related operation such as establishment of categories, the application of these categories of raw data through coding, tabulation and then drawing statistical inferences. Thus, researcher should classify the raw data in to some purposeful and usable categories. Coding operation is usually done at this stage through which the categories of data are transformed in to symbols that may be tabulated and counted. Editing is the procedure that improves the quality of the data for coding.

Whit coding the stage is ready for tabulation. Tabulation is a part of the technical procedure where in the classified data are put in the form of tables. Analysis work after tabulation is generally based on the computation of various percentage coefficients etc. by applying various well defined statistical formulae. In the process of analysis, relationship of differences supporting or conflicting with original or new hypothesis should be subjected to taste of significance to determine with what validity data can be said to indicate any conclusion(s). 9. Hypothesis testing:- 45

After analyzing the data as stated above the researcher is in a position to test the hypothesis, if any he had formulated earlier. Do the facts support the hypothesis or they happen to be contrary? This is the usual question which should be answered while testing hypothesis. Various tests such as Chi-square test, t-test, and f-test have been developed for the purpose. The hypothesis may be tested by using one or more of such tests. 10. Generalizations and interpretation: If a hypothesis is tested and upheld several times, it may be possible for the researcher to arrive at generalization. . e. to build a theory. As a matter of fact the real value of research lies in the ability to arrive at certain generalizations. If the researcher had no hypothesis to start with he might seek to explain his findings on the basis of some theory. It is known as interpretation. 11. Preparation of the report or thesis: Finally the researcher has to prepare the report of what has been done by him. Writing of report must be done with great care keeping in view the following. 1. The layout of report should be as follows—(1) the preliminary pages; (2) the main text ;( 3) the end matter.

In its preliminary pages the report should carry time and date followed by the acknowledgements and foreward. Then there should be a table of contents followed by a list of tables and list of graphs and charts, if any, given in the report. The main text of the report should have the following parts. 46 (a) Introduction: – It should contain a clear statement of the objective of the research and an explanation of the methodology adopted in accomplishing the research. The scope of the study along with various limitations should as well be stated in this part. b) Summary of findings: After introduction there would appear a statement of finding and recommendations in non-technical language. It the findings are extensive they can be summarized. (c) Main report: The main body of the report should be presented in logical sequence and broken-down into readily identifiable sections. (d) Conclusion: Toward the end of the main text, researcher should again put down the results of his research clearly and precisely. In fact it is the final summing up. At the end of the report, appendices should be enlisted in respect of all technical data. Bibliography, i. . list of books, journals reports etc. , consulted, should also be given in the end. Index should also be given specially in a published research report. 2. Report should be written in a concise and objective style in simple language avoiding vague expressions such as ‘it seems’, ‘there may be’, and the like. 3. Charts and illustrations in the main report should be used only if they present the more information more clearly and forcibly. 4. Calculated ‘confidence limits’ much be mentioned and the various constraints experienced in conducting research operations may as well be stated. 47

INTRODUCTION OF THE ORGANISATION 48 COMPANY PROFILE Maruti Udyog Limited (MUL) was established in Feb 1981 through an Act of Parliament, to meet the growing demand of a personal mode of transport caused by the lack of an efficient public transport system. Suzuki Motor Company was chosen from seven prospective partners worldwide. This was not only due to their undisputed leadership in small cars but also to their commitment to actively bring to MUL contemporary technology and Japanese management practices (which had catapulted Japan over USA to the status of the top auto manufacturing country in the world).

A license and a Joint Venture agreement were signed between Govt of India and Suzuki Motor Company (now Suzuki Motor Corporation of Japan) in Oct 1982. The objectives of MUL then were: Modernization of the Indian Automobile Industry, Production of fuel-efficient vehicles to conserve scarce resources, Production of large number of motor vehicles which was necessary for economic growth. The Revolution Maruti created history by going into production in a record 13 months. On 14 December 1983, the then Prime Minister of India, Mrs Indira Gandhi, handed over the keys of the first car to Mr.

Harpal Singh of Delhi. Volume targets were routinely exceeded, and in March 1994, it became the first Indian company to produce over one million vehicles, a landmark yet to be achieved by any other car company in India. Maruti is the highest volume car manufacturer in Asia, outside 49 Japan and Korea, having produced over 3. 5 million vehicles by December 2001. Maruti is one of the most successful automobile joint ventures, and has made profits every year since inception till 2000-01. In 2000-01, although we generated operating profits on an income of Rs 92. billion, high depreciation on new model launches resulted in a book loss. We are again on track for profits in 2001-02, with a profit of Rs 300 million in the first half. In this period, sales were increased by 5. 3%, against an industrv decline of 6. 1 %. We revolutionized the wav Indians looked at cars. “No other car company so completely dominates its home market” – (The Economist). Despite there being 11 companies now in the passenger car market, Maruti holds about 60 % of the total market share.

MUL is also the first and only car company in the world to lead its home market in terms of both market share and in the JD Power Customer Satisfaction study (JD Power Asia Pacific 2000 India Customer Satisfaction studies). Transfer of Technology Every minute two vehicles roll out of the Maruti Plant. It is therefore imperative that the transfer of contemporary technology from our partner Suzuki is a smooth process. Great stress is laid on training and motivating the people who maintain the equipment, since the best equipment alone cannot guarantee high quality and productivity.

From the beginning it was a conscious decision to send people to Suzuki Motor Corporation for on-the-job training for line technicians, supervisors and engineers. This helps them to imbibe the culture in a way that merely transferring technology through documents can never replicate. At present 20 % of our workforce is trained under this program. Our Ethos Our employees are our greatest strength and asset. It is this underlying philosophy that has 50 molded our workforce into a team with common goals and objectives.

Our EmployeeManagement relationship is therefore characterized by: Participative Management, Team work, Kaizen, Communication, Information sharing, and an open office culture for easy accessibility to implement this philosophy. We have taken several measures like a flat organizational structure i. e. there are only three levels of responsibilities ranging from the Board Of Directors, Division Heads to Department Heads. Other visible features of this philosophy are common uniforms (at all levels), and a common canteen for all. This structure ensures better communication and speedy decision making processes.

It also creates an environment that builds trust, transparency and a sense of belonging amongst employees. Maruti eyes Global Pie, to be R&D Hub for Suzuki New Delhi: With the enhanced backing of Suzuki, Maruti Udyog is gearing up to become a global scale player and will be a R&D centre for Suzuki cars outside Japan. Becoming a global player is the resurgent theme of Maruti’s future strategy in the post-privatization phase as listed in the IPO offer document filed with Sebi. In terms of manufacturing processes or quality systems or even R, the flavor is global.

Clearly, the company wants to build on its leadership in the domestic market and make a place for itself in the global arena. After sharp gains in productivity and quality in the past two years, the company wants to further improve its operating efficiencies by cutting costs by 30% and enhancing productivity by 50% and align itself with Suzuki’s Kosai plant in Japan by year ’04-05. On the quality front, while Maruti was amongst the first automobile manufacturers in the world to receive the ISO 901:2000 certification, it wants to go further and adopt Suzuki’s global customer audit index.

But the biggest shift is in the area of R&D. Although Maruti has gained from its expertise in localization of components, it now wants to take R&D to another plane where it can become 51 Suzuki’s centre for cars in Asia, outside Japan. In fact, it has recently acquired the capability to conduct minor and major face lifts to its products and upgrade products in terms of technology or features. To reduce initial investment on models, Maruti may outsource dye from other than Japan, such as Taiwan, which are often less expensive.

Maruti’s initiatives are based also on its recent success in the export market. It sold nearly 24,000 units of the Alto in Europe last fiscal and its overall exports were up by a whopping 163% over the previous year. Its global ambitions are also now nurtured by the backing of Suzuki Motor Corporation. The prospectus makes this point by Sayin2 that as a subsidiary of Suzuki, Maruti has “access to globally respected technology in the small car segment. ” Even while maintaining the overall global theme, Maruti wants to leverage its local advantage.

Its promise of providing customers a “wide range of Maruti branded services at different stages of ownership” is at par with other global manufacturers. It lays great emphasis on these Maruti branded services like insurance, finance and pre-owned cars, and believes that this “360 degree customer experience” will secure repeat purchase and increase revenue of the sales network. In supply chain initiatives as well, Maruti’s reference is to the world wide purchase system fostered by General Motors. Through this, it could make a select few of its vendors the sole suppliers or Suzuki products in several countries. Our focus will continue to be the small car: Jagdish Khattar From a loss of Rs 269 crore in 2000-01, after being written off by many analysts, Maruti has bounced back: its 800 model is as popular as ever, new launches are picking up. Jagdish Khattar, managing director Maruti, spoke to Vinay Pandey on Maruti’s transformation. Excerpts: Maruti’s 52 turn around: To understand Maruti today, you need to go back to 1993 when liberalization took place and foreign manufacturers were allowed to come. Maruti should have taken proactive measures then.

But between 1995 and 1998 our shareholders (the government and Suzuki) had differences. Decisions that should have been taken in the mid-90s to prepare for competition got delayed. In June 1998, we decided to increase our capacity by one lakh vehicles and to introduce four or five new models, which arrived a year and a half after our competitors’, who gained from this. Two, investments that should have been done over five years were done in 24 months in a hurry to launch new models. So, localization was low, the yen was strong, prices were marketdetermined, depreciation increased, and we ran into losses.

That’s when you got the feeling Maruti was in trouble. But internally, it was a very good wake up call, which did a lot of good to us. We brought out models, localized faster, cut costs massively. So even when everyone thought we were in trouble, we were confident that we’d bounce back. Our market share went down to 61%, but we’ve now stabilized around 58-59%. We took off a bit late, had lot of catching up to do, which we’ve done. Role of M800: People say 800 is old and so on. But go on the road and see someone on a twowheeler, wife and two children, in rain, in winter, in summer.

Is he going to be bothered about 53 power windows and steering, or does he wish to be in a car and be comfortable? Today we’re selling air-conditioned 800s at Rs 2. 2 lakh. Many people buying AC 800s may not have an AC at home. So, look at the tremendous role it is playing. India’s car penetration is six per 1,000; Pakistan and Sri Lanka are at 12. Thailand is at 200, Japan and America are over 500-600. What I’m saying is that there’s still a huge gap. If our motorization has to increase, we can’t do that by selling expensive cars. We need to make cars more affordable.

Therefore, a narrower gap between two-wheelers and entry-level cars is what’s required. It should also have good performance, no compromise on quality, fuel-efficient and low on maintenance. The 800 fits the bill. The Alto can’t replace the 800 today because the volume and price at which 800 is selling, we can’t sell Alto at that. Yes, once we get costs under control, we’ll position the Alto between segments A and B. We’d like to have a car from the entry level to Rs 3-3. 5 lakh at every Rs 20,000- Rs 25,000 difference. Success of new models: Historically, Maruti’s new models never start with a bang.

I joined Maruti in 1993 when Zen was introduced and we found it hard to sell initially. We had to reduce our production plan drastically, but then after a year or two it caught on. And look what it is today. So, initially there’s skepticism, then some people buy and share their experience. About 60-70% of our sales take place by referral. I’m not saying marketing is unimportant, but there’s nothing more effective than a present owner giving a good chit to prospective buyer. We’re seeing the same effect with Wagon R, which is doing really well now. 54 Versa is slightly different.

When we decided on Versa, in 1998, the government had announced that in April 2002 the administered price mechanism (APM) for oil would be abolished. The gap between petrol and diesel prices would have then been negligible. Versa came, but APM remained. Now there is no hell of a chance of anyone buying a petrol version when a diesel alternative is available for the same purpose. For the Versa we’ve carried out a lot of localization, the pricing has been reworked and things are looking up. But some amount of disadvantage between petrol and diesel will remain.

Those who bought the Baleno are very happy. Also, view it from our perspective. We launched five models in a space of 12 months. We had to prioritize. Because of low localization, we were losing money on Baleno. So it made no sense to just gain numbers. Now some localization has taken place and the product is getting its due. The Vitara is different, it’s not manufactured here. We’ll import what is required. Anyway, our core competence and focus would be the small car because that is what the county needs and that is where the volumes are. Let us look at it in another way.

There are only four major players in the small car segment – Telco, Fiat, Hyundai and Maruti and 80 % of the market is the small car segment. In the remaining market, there are a dozen players. It is a very lopsided market structure today. 55 PRODUCT PROFILE MARUTI 800 Economy Great technology enables the Maruti 800 to deliver great fuel efficiency. The Maruti 800 shas topped every fuel efficiency survey that has been conducted in the past. The Maruti 800 has the lowest fuel cost per kilometer of any petrol car in the country with a cost of Rs 1. 94 per kilometer.

This confirms the position of the Maruti 800 as the most fuel efficient petrol car in the country. 56 MARUTI OMNI For the family This car position itself in the mind of consumer as afamily car. The punch line of the car is “toal solution of the entire family” Features are: • MPFI Engine The multi-point fuel injected engine helps to lower emissions and achieve greater fuel efficiency. With 37 bhp @ 5000 rpm, you have greater pulling power. A torque of 6. 32 kgm @ 3000 rpm ensures better climbing power and lesser gear changes. In other words, less fatigue. 57 Space Stretch out. Open up. Enjoy the luxury of space inside the Omni.

The ample headroom and legroom make long rides comfortable and enjoyable. Reclining front seats with adjustable head restraints let you relax completely. With its ample luggage space, the Omni is equipped for anything. Pack in your family, your group of friends, your luggage, your golfing gear, and your picnic hamper all can fit in snugly. 58 MARUTI ALTO Features are: MPFI Engine Plenty of power, great mileage and low emission make the Alto the perfect choice for Indian roads. The fuel efficiency of the Alto is better than any other vehicles in its class. The 16×4 hypothec MPFI engine delivers unadulterated power, begging for fun.

The 4valves per cylinder MPFI engine mated with a 5-speed gearshift and a 16-bit on-board computer allows the Alto to effectively combine power with optimal fuel efficiency 59 Reliability Here’s another first by ALTO, which has been setting records since its introduction in India! Alto becomes the first Indian car to undergo a 24 hours endurance test and sets 13 national records in the process !!! The test was conducted on 2nd & 3rd August on the high-speed track of the National Centre for Automotive Testing (NCAT) at the Vehicle Research and Development Establishment (VRDE), Ahmednagar. 0 WAGON R Comforts The smarter race knows exactly how to take the stress out of driving and push driving comfort to the max. Full flat folding front seats and reclining rear seats allow you to stretch yourself during long drives. This ensures that you travel in maximum comfort as compared to cramped seating arrangements in other cars. The McPherson strut suspension in the front and coil springs at the rear ensures a smooth comfortable drive. It’s not just comfort; Wagon R also has a 1061cc MPFI low friction engine 61 Space Nothing cramps the style of the smarter race.

That’s why it prefers the Wagon R. Tall body, high seats and wide opening doors make it easy to get in and get out. Seven cm taller than the Santro, the Wagon R offers more headroom, amazing spaciousness and a commanding driving position. The split rear seating arrangement along with fully reclining front and the reclining rear seats gives a first class airline seating comfort. The Wagon R comes with an extra large boot space, which is possible because of its unique design that maximizes space on a compact platform. Caution, safety and protection are integral to a smarter mindset.

And the Wagon R is designed to satisfy every concern. Just check out the battery of safety features: Dual side-impact beams in the front and rear doors protect you from lateral collisions. A long crumple zone shields you in the unlikely event of a frontal collision. A Roll Control device in the front suspension imparts greater stability and helps the Wagon R to negotiate sharp curves at high speeds. The 8 inch booster-assisted brakes equip you well to handle any emergency High seating position gives you a bigger field of view, allowing you to better anticipate traffic problems before they occur. 2 MARUTI VERSA • One great drive. Twice the safety The Versa is one of the safest cars on the road. It has safety features to guard your loved ones from road disasters. Side impact absorbing beams in all 4 doors protect the passengers from side crashes. Front impact beams between the front pillars and the collapsible steering column shield you from head on collisions. A steel pipe frame in the rear seat safeguards your family from rear impacts. ELR seat belts allow free movement, but hold you securely during sudden stoppages.

Height adjustable head restraints, brake boosters and a collapsible steering column further ensure your safety. When you step out of the house and into your Versa, rest assured 63 Sink in. Stretch out. Lie back. Indulge Versa’s the ideal car for long journeys. Now stretch your legs on those long rides. All seats* have recliners. In SDX, the 2nd row bucket seats can be slid forward or backward independently to suit the convenience of the passengers. The high seat position makes it easy to get in and out and gives superior road visibility. The front row seats have thick insulation between seat and the engine.

Two layers of PUF and aluminum sheets act as a buffer, protecting the driver from engine heat. The rear seat also has a steel pipe frame for protection in the event of a rear impact. * Except for the folding seat in 2nd row (DX, DX2) and last row seats. 64 MARUTI GYPSY Gypsy Advantage Hills Higher ground clearance of 210 mm to ensure better off-road handling. Diaphragm Spring Clutch designed to with stand higher rotational speeds requiring less release load ,thereby reducing the wear of parts Snow 65 The Engine that’s high on thermal conductivity, and heats up quickly even under extremely cold conditions.

Thus, there are no starting problems even in the midst of snow. 1300 cc petrol engine — lighter than a diesel engine, resulting in a higher power to weight ratio. This ensures better control, more power and greater responsiveness. Desert The Engine avoids overheating because its high thermal conductivity enables it to give off heat much faster Streams Maximum power of 80 bhp @ 6000 rpm makes for easier crossings. 4-Wheel drive for better control and more power at the wheel. A higher power to weight ratio of 0. 0812 ensures faster acceleration through streams and muddy terrain.

DIRT TRACKS Dirt tracks Steering Damper ensures that shocks encountered from bumps and potholes are not passed on to the steering wheel. Thus, any loss of control owing to unexpected obstacles is avoided. 66 The Gypsy is a lighter vehicle weighing in at 1020 kg (hard top) and 985 kg (soft top). This is a major advantage on sandy or muddy tracts — a heavier vehicle will get stuck but the Gypsy keeps 67 MARUTI ESTEEM Safety 8 inch vacuum booster assisted brakes ensure precise, stable and safe stopping. Collapsible steering column protects the driver in case of frontal ollision. Rugged monocoque chassis and crumple zones distribute collision impact. Side impact beams on all four doors provide safety during side impacts Comfort A refreshed cabin, ergonomically designed low fatigue seats, a super cool AC and tubeless tyres promise to pamper you with an unexpected level of comfort and driving pleasure. Supercool AC for a comfortable drive 68 Precise power steering for total control McPherson strut suspension for a smoother ride Tubeless tyres for superior road grip New white lit dials for easy viewing Low fatigue seats

Performance At the heart of this beauty lies a state-of-the-art Japanese engine that will give you the power you’ve always craved for and performance that has already won accolades MPFI, 16 valve, 16-bit, 1300 cc All Aluminum Engine (ACE) Acceleration of 0-100 kmph in 11. 49 secs* per ton 85 bhp @ 6000 rpm (Petrol) Higher torque of 106 Nm @ 3000 rpm for quick pickup (Petrol) Highest power-to-weight ratio of 99 bhp 69 GRAND VITARA Comforts The smarter race knows exactly how to take the stress out of driving and push driving comfort to the max.

Full flat folding front seats and reclining rear seats allow you to stretch yourself during long drives. This ensures that you travel in maximum comfort as compared to cramped seating arrangements in other cars. The McPherson strut suspension in the front and coil springs at the rear ensures a smooth comfortable drive. It’s not just comfort; Wagon R also has a 1061cc MPFI low friction engine 70 DATA PRESENTATION & DATA ANALYSIS 71 DATA PRESENTATION Data Presentation has been divided into 2 parts 1. A detailed analysis has been done for all the segments in Maruti. 2.

Santro, which is the major competitor of Maruti, has been analyzed in a simile way so as to determine the factors that are taken into consideration by the customer while comparing the car. Model wise division of the cars purchased Maruti Cars purchased 800 Omni Zen Alto WagonR Versa Esteem Baleno 33 6 20 9 30 2 13 1 72 CARS PURCHASED 35 30 25 20 15 10 5 0 00 lt o er sa ed m ni n R Ze on as O ee i8 ar ut ag rc h st V al B en m A o Interpretation: The above figure shows that the 800 model of Maruti still commands a good share in the market, followed by WagonR and hot selling Zen.

Maruti 800 is the undisputed king of the roads. Alto is an upcoming model and has the largest share in the export category, and is marketed in Europe. V _rsa’s sale has got to pick up because costumers have an unclear picture in their mind regarding the car being high priced which is actually a myth. C ar s pu M W E 73 Q. What was the purchase mode of Vehicle? Mode of Cash Purchase ICIC Stan chart HDFC CITIBANK ABN-AMRO 16 36 9 12 8 33 MODE OF PURCHASE 40 35 30 25 20 15 10 5 0 Mode of Purchase Cash 16 ICIC 36 Stan chart 9 HDFC 12 CITIBANK 8 ABN-AMRO 33 Series1

Interpretation: As can be seen in the figure above the availability of easy loan has attracted the consumers to much so that the out of the cars purchased only 13. 5 % of the vehicles are paid for in cash. With the mushrooming of finance companies the rate of interests has been continuously reducing. The two rivals in car financing are ICICI and ABN-AMRO bank with ICICI leading the race due of more and wider presence. Easy availability of finance have up surged the demand for higher segment cars with 74 more and more people who have the capability of paying cash opting for finance due to hassle free approvals and lowest interest rates.

Q. Which brands are mostly preferred by customers? The brand-recalling test showing the brand that has the picture in consumer’s mind Brand Recalling Maruti Hyundai Tata Honda Fiat Ford 97 66 40 20 19 12 BRAND RECALLED 120 100 80 60 40 20 0 Brand Recalling Maruti Hyundai Tata Honda Fiat Ford As seen in the figure above somewhere down the line people do recall Maruti when they are asked to name a brand that comes to their mind at the first instance. Followed by Maruti is a close competitor Santro which relies on aggressive marketing tools, followed by the good old Tata which their lagship Indica. It can be seen that the more the people

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