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Fortnightly Status Report for Dissertation Work

Sl.No…………. Date :……………………………

Reg. No……………………………. Name of the Student……………………………


Submitted to : ............................................................. (Faculty Guide)

Title of Dissertation Work: MARKETING MIX OF AUTOMOTIVE SECTOR IN


INDIA

Stage 2 Report : Further Literature Review and proposed Methodology

Date : --------------

Work carried out during the fortnight under report :

a. Books read : FINANCIAL MARKETS AND FINANCIAL INSTITUTIONS IN INDIA


(YASHWANTRAO CHAVAN MAHARASHTRA OPEN UNIVERSITY),

b. Research Papers / Articles read / downloaded / Databases used :

India is breaking the inhibitions of world as a developing state and heading


towards a developed state with its world class technology, market, and
consumer power. India has a population of more than 1.21 billion, the second
largest in the world and more than three hundred million middle class. One of
the reasons for growth of car industry is the higher disposable incomes of the
middle class and resultant increase in their living standards. Because of its
large market, low base of car ownership, and surging economy, India has
become a huge attraction for car manufacturers around the world.
Both the Indian and global automotive giants, including General Motors (GM),
Volkswagen, Honda, and Hyundai, have announced huge expansion plans
(Asiaecon, 2012). India is expected to overtake China as the world’s fastest
growing car market in terms of the number of units sold and the automobile
industry is one of the fastest growing manufacturing sectors in India.
India is emerging as a supply hub to feed the world demand for sports utility
vehicles (SUVs). The major global car manufacturers are looking to leverage
India's cost competitive manufacturing practices and are assessing
opportunities to export SUVs to Europe, South Africa and Southeast Asia. India
also has the largest base to export compact cars to Europe. Moreover, hybrid
and electronic cars are new developments on the automobile canvas and India
is one of the key markets for them. Global and Indian car manufacturers are
focusing their efforts to develop innovative products, technologies and supply
chains. The automotive plants of global car manufacturers in India rank among
the top across the world in terms of their productivity and quality.
Top auto multinational car manufacturers like Hyundai, Toyota and Suzuki rank
their Indian production facilities right on top of their global pecking order

c. Internet sources, if any :

https://www.strategyand.pwc.com/trend/2017-automotive-industry-trends

http://www.autocarpro.in/industry-reports

Description of the Methodology Proposed:

(a) Introduction and overview:

In the present world, the speed of technological developments in industry


sector especially in automotive industry is so high and unexpected that
coordination and compliance with these changes have become a vital issue for
countries and big companies. No longer can a country confidently and
authoritatively plan and design in industry specially, automobile industry with
no attention to worldwide changes. Intensifying global competition in the
automotive industry and constructing of pieces, and emphasizing the survival
and viability of an industry's ability to compete depend on its ability to
compete. In this regard, countries are required to have access to the
latest technological findings, reduce the costs and prices, and improve product
quality. In other words, automobile as a strategic commodity increasingly plays
an important role in developing and improving countries trade. That is to say
automobile industry through its links with other industries can be a powerful
driving force for industrial development in a country. This industry has always
been considered as one of the most important chains of industrial
development in each country. Since the automobile industry needs to be fed
from other industries to grow, it, in turn, causes many sectors and industries to
grow. Thus, strengthening and supporting the 0automotive industry has
become an inevitable necessity for developing countries.

(b) Research design:


The study is explorative cum descriptive cum diagnostic in nature. It is
exploratory in a sense that prior to liberalization few studies have been
conducted by the scholars on marketing strategies of car industry. The focus of
these studies have been on marketing mix that is too on positioning as there
were only few players in the Indian market. After globalization the automobile
market scenario has completely changed due to the entry of large number of
multinational companies in the fray. And in this changed situation where the
focus is on customer value, in the best knowledge of the researcher based on
the extant literature, no study has been conducted on how marketing
strategies of car manufacturers influence the consumers in India, and in
particular, who wants to make a mark in the domain of hatchback and sedan in
compact and midsized segment of cars among the existing car manufacturers.
Descriptive research involves gathering data that describe events and then
organizes, tabulates, depicts, and describes the data collection (Glass and
Hopkins, 1996). The present study is also descriptive in nature as the
researcher made an attempt to describe the current scenario in the global
automobile sector with a focus on the players prevailing in the Indian market,
the marketing strategies being followed by these players and the researcher
attempts to make a situational/scenario analysis (SWOT analysis, Porter’s Five
Forces Industry analysis, and the PEST analysis) in the context of automobile
business environment. Moreover, the problem has been formulated and
conceptualized on the basis of the description of existing literature on the
subject. The present study is also diagnostic as first it explores the marketing
strategies of the major players and then attempts to analyze the effectiveness
of these strategies on Indian car buyers’ brand preference, satisfaction and
loyalty. Finally, an attempt has also been made to recommend some more
viable aspects of marketing strategies that can be implemented in the current
global environment. Survey was the predominant research methodology used
in this work. To proceed on right track and to do justice with the study, the
primary sources of information were browsed. Technical expectations as well
as social expectations and obligations were delineated in consultation with the
Research Supervisor and the Marketing Personnel of car
manufacturers/dealers/financing agencies who were apt to the idea of
processes and problems of the buyer behavior and marketing strategies to
influence car buyers in Indian automobile business environment before
finalizing the line of action. Thus the thrust areas were marked for the target
audience, the hatchback and sedan car owners for the compact and midsized
segment in India. A quantitative survey was chosen for the research because it
is a simple and cost effective means of gathering a large amount of information
within a short timeframe.
(c) Methods of data collection:
Convenience of the car owners was pre-checked by making phone calls and the
questionnaires were got filled at the premise suitable to respondents. In some
cases the researcher had a free access to visit the car owners. Some of the
respondents desired to have the questionnaire through e-mail. The filled up
questionnaires were collected back either personally or respondents returned
the same though email.
As the questionnaire was self-explanatory the respondents were asked to
respond as per the instructions in the questionnaire. In order to reduce bias
and get frank responses from the respondents, the following precautions were
taken:
The respondents were apprised about the purpose of the study; 125
An attempt was made to include people from different backgrounds in terms
of their demographics;
The respondents were also assured about the confidentiality of the
information and were asked not to mention their names or the dealership
from where they purchased the car; and
in case of any doubts, the researcher was available to clarify.

(d) Methods for data analysis and synthesis:


The data obtained from the survey questionnaires were coded and fed into the
computer for coding, tabulation and analysis of data. As the questionnaire was
not pre-coded, first the coding of the questionnaire was done and for
preparing data for computation, data definition file was prepared with variable
numbers, column numbers, variable codes and labels. All the items were
indexed for final analysis. SPSS (Version17.0) was used for extensive analysis
and statistical tools like χ2 test, Student’s t-test, analysis of variance (ANOVA)
were used for analysis of the data gathered to bring out the significant
influences of study variables amongst compact and 127 midsized segment car
owners. Correlations and multiple regressions were used to bring out the
significant relationships and effects of study variables on compact and
midsized segment car owners’ buying behavior, satisfaction and loyalty
intention. Percentages, weighted means, grand means and standard deviations
were also used to explain the direction and extent of the significant
differences..

(e) Limitations of the study:


As limitations are inherent in all research investigations, it is important that
these be brought to light. It should be noted that the current research is also
bound by several limitations, which can be turned into avenues for further
analysis. Methodologically, using a single informant to analyze company
marketing strategies can be regarded as a significant limitation. Studies suggest
that significant measurement error and unreliability may exist in single-
respondent measures (Gerhart, 1999). In addition, the inability to draw a
random sample of car owners is a well-known problem facing researcher using
survey methodologies. Since so many male, married, self-employed and post-
graduation or above education degree holder respondents, having diesel cars
replied to the survey and so few female, single, employees and graduation or
below education degree holders having cars with petrol as fuel variant, the
survey may not accurately reflect the perceptions of buyers about car
companies operative in India. There are limitations in the information supplied
as well. The study was conducted on the basis of perceptions of the
respondents and observations made by the researcher. Though, every effort
has been made for getting correct responses for each question included in the
schedule but even then the researcher cannot be sure about the possibility of
respondents’ bias in reporting while imparting information. Similarly, the
researcher may also make observations according to her own set of mind and,
therefore, the prejudices of the researcher in making observations always
influence the rationality of the collected information. In addition, this research
was only concerned with few organizations under study and thus it is hard to
establish whether the marketing strategies also are same in other
organizations. Although this was checked with the extensive literature review
conducted on attributes of marketing plans but cannot be generalized. The
concept of consumer buying phenomenon is also found to be quite complex
and consists of a wider scope than the current research study.

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