SYNOPSIS REPORT

TITLED

“STUDY ON CUSTOMER SATISFACTION WITH SPECIAL REFERENCE

TO HERO MOTOCORP”
Submitted in pursuant to the ordinances for award of
the degree of

BACHELOR OF BUSINESS ADMINISTRATION

Of
D.D.U. Gorakhpur, University, Gorakhpur

Project Submitted By: Project Supervisor:

Ayush Singh Mr. Pradeep Chaudhary
Roll No. 2214118360007 Asst. Prof.
Dept. of Business Administration

Department of Business Administration

ITM COLLEGE OF MANAGEMENT
Session 2021-22

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 TABLE OF CONTENT

Sr. No. Topic Pg. No.

1 Title of the Project 3

2 Introduction 4

3 Objective of the Study 10

4 Research Methodology 11

5 Bibliography 12

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 Project Title

“STUDY ON CUSTOMER SATISFACTION WITH SPECIAL REFERENCE

TO HERO MOTOCORP”

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 EXECUTIVE SUMMARY

Marketing starts with identifying the needs of customers and ends in satisfying those wants.
The goal of marketing is to attract new customers by promising superior value and to keep
current customers by delivering satisfaction based on their preferences retaining them.
As the customers are regarded as the superiors in today’s market, the level of satisfaction and
their preferences should be keenly studied.
The two-wheeler industry has been expanding rapidly. Gone are the days when possessing a
two-wheeler was seen as a luxury. Now days, it is viewed as a mere necessity.
Prior, sale of two-wheelers was mainly confined to urban areas but lately in rural areas the
bicycles are being replaced by power driven two-wheelers such as scooters, motorcycles.
Not only this, this industry has also customers ranging from all demographic segments. It has
been common sights that even school going children are driving two-wheelers. The women
customers are also increasing due to increase in women literacy and employment.
Getting a new customer is difficult, than retaining a current customer is a more difficult one
and not only that it is estimated that the cost of attracting a new customer is five times the cost
of retaining current customer. It requires a great deal of effort to induce satisfied customer to
switch away from their current preference. Thus, customer satisfaction is been given top
priority in today’s competitive world.

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 COMPANY DETAILS OF HERO MOTOCORP.

Hero MotoCorp

"Hum Main Hai Hero"

Type Public company

BSE: 500182
NSE: HEROMOTOCO
Traded as
BSE SENSEX
Constituent
Industry Automotive

Predecessor Hero Honda Motors Ltd.

Founded 19 January 1982

Headquarters New Delhi India

Area served India, Sri Lanka, Nepal
Dr. Brijmohan Lall
Munjal (Chairman)
Key people
Pawan Munjal (MD &
CEO)[1]

Products Motorcycles, Scooters

241.66 billion
Revenue (US$3.8 billion)
(2013)[2]

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 33.22 billion
Operating
(US$520 million)
income
(2013)[3]
21.18 billion
Net income (US$330 million)
(2013)[2]
53.08 billion
Total assets
(US$830 million) (2013)
Number of
5,842[2]
employees
Parent Hero Group
Erik Buell
Subsidiaries
Racing(49.2%)

Website www.heromotocorp.com

Contexts

1 History
o 1.1 Termination of Honda joint venture
o 1.2 Sports Association
o 1.3 Formation of Hero MotoCorp
o 1.4 49% stake in Erik Buell Racing
2 Operations
3 Motorcycles
o 3.1 Scooters
4 Company performance
5 Listings and shareholding
6 Employees
7 Awards and recognition
8 Initiatives
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Hero Motocorp Ltd., formerly Hero Honda, is an Indian motorcycle and scooter manufacturer
based in New Delhi, India. The company is the largest two wheeler manufacturer in the world.[2]
In India, it has a market share of about 46% share in 2-wheeler category.[2][4] The 2006 Forbes
200 Most Respected companies list has Hero Honda Motors ranked at #108.[5] On 31 March
2013, the market capitalisation of the company was INR 308 billion (USD 5.66 billion).[6]

Hero Honda started in 1984 as a joint venture between Hero Cycles of India and Honda of
Japan.[7] In 2010, when Honda decided to move out of the joint venture, Hero Group bought the
shares held by Honda.[8][9] Subsequently, in August 2011 the company was renamed Hero
MotoCorp with a new corporate identity.[10]
In June 2012, Hero Motocorp approved a proposal to merge the investment arm of its parent
Hero Investment Pvt. Ltd. into the automaker. The decision comes after 18 months of its split
from Honda Motors.[11]

History

"Hero" is the brand name used by the Munjal brothers for their flagship company, Hero Cycles
Ltd. A joint venture between the Hero Group and Honda Motor Company was established in
1984 as the Hero Honda Motors Limited at Dharuhera, India. Munjal family and Honda group
both owned 26% stake in the Company.

During the 1980s, the company introduced motorcycles that were popular in India for their fuel
economy and low cost. A popular advertising campaign based on the slogan 'Fill it – Shut it –
Forget it' that emphasised the motorcycle's fuel efficiency helped the company grow at a double-
digit pace since inception. In 2001, the company became the largest two-wheeler manufacturing
company in India and globally.[2] It maintains global industry leadership till date.[2] The
technology in the bikes of Hero Motocorp (earlier Hero Honda) for almost 26 years (1984–2010)
has come from the Japanese counterpart Honda.[12]

1956—Formation of Hero Cycles in Ludhiana(majestic auto limited)

1975—Hero Cycles becomes largest bicycle manufacturer in India.
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1983—Joint Collaboration Agreement with Honda Motor Co. Ltd. Japan signed Shareholders
Agreement signed
1984—Hero Honda Motors Ltd. incorporated
1985—Hero Honda motorcycle CD 100 launched.
1989—Hero Honda motorcycle Sleek launched.
1991—Hero Honda motorcycle CD 100 SS launched.
1994—Hero Honda motorcycle Splendor launched.
1997—Hero Honda motorcycle Street launched.
1999—Hero Honda motorcycle CBZ launched.
2001—Hero Honda motorcycle Passion and Hero Honda Joy launched.
2002—Hero Honda motorcycle Dawn and Hero Honda motorcycle Ambition launched.
2003—Hero Honda motorcycle CD Dawn, Hero Honda motorcycle Splendor plus, Hero Honda
motorcycle Passion Plus and Hero Honda motorcycle Karizma launched.
2004—Hero Honda motorcycle Ambition 135 and Hero Honda motorcycle CBZ Star launched.
2005—Hero Motocorp SuperSplendor, Hero Honda motorcycle CD Deluxe, Hero Honda
motorcycle Glamour, Hero Honda motorcycle Achiever and Hero Honda Scooter Pleasure.
2007—New Models of Hero Honda motorcycle Splendor NXG, New Models of Hero Honda
motorcycle CD Deluxe, New Models of Hero Honda motorcycle Passion Plus and Hero Honda
motorcycle Hunk launched.
2008—New Models of Hero Honda motorcycles Pleasure, CBZ Xtreme, Glamour, Glamour Fi
and Hero Honda motorcycle Passion Pro launched.
2009—New Models of Hero Honda motorcycle Karizma:Karizma – ZMR and limited edition of
Hero Honda motorcycle Hunk launched
2010—New Models of Hero Honda motorcycle Splendor Pro and New Hero Honda motorcycle
Hunk and New Hero Honda Motorcycle Super Splendor launched.
2011—New Models of Hero Honda motorcycles Glamour, Glamour FI, CBZ Xtreme, Karizma
launched. New licensing arrangement signed between Hero and Honda. In August Hero and
Honda parted company, thus forming Hero MotoCorp and Honda moving out of the Hero Honda
joint venture. In November, Hero launched its first ever Off Road Bike Named Hero "Impulse".
2012—New Models of Hero Motocorp Maestro the Musculine scooter and Ignitor the young
generation bike are launched.
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2013—Hero MotoCorp unveiled line-up of 15 updated products including Karizma R, ZMR,
Xtreme, Pleasure, Splendor Pro, Splendor iSmart, HF Deluxe ECO, Hero Motocorp
SuperSplendor, Passion Pro and Xpro, Glamour and Glamour FI etc. It also introduced three
new technologies- Engine Immobilizer in new Xtreme, Integrated Braking System (IBS) in new
Pleasure and i3S (Idle Stop and Start System) in new Splendor iSmart
2014—Hero MotoCorp Launched Splendor Pro Classic, Xtreme Sports and new models of
Karizma ZMR, Karizma R, Maestro and Pleasure.
2014—In October 2014, Hero updated its 100cc engine range on Passion Pro and Splendor Pro
Classic. Is should be updated on other Hero's 100cc vehicles shortly as well.

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 OBJECTIVES

This study was conducted keeping the following objectives in mind.

1. To study the factors which influence the purchase of Hero two-wheelers?
2. To know the customer level of awareness of Hero two-wheelers.
3. To know the various factors, which influence customers in purchasing, they’re two -
wheelers?
4. To find the after sales service offered by Hero MotoCorp Ltd.
5. To know the customer level of satisfaction of Hero two-wheelers with respect to Hero
MotoCorp Ltd.
6. To find the profile of Hero MotoCorp Ltd two-wheeler customers.
7. To understand two wheeler sector in India.
8. How the split with Honda has affected Hero motors.

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 METHODOLOGY OF THE STUDY

The information required for this study obtained was basically through
two sources.

Primary Data:

Primary Data has been gathered by a survey through a structured

questionnaire.

The Data has been collected from 100 customers, through

questionnaires, by using simple random sampling. In addition interaction with
the staff of Hero MotoCorp Ltd has also given some information.

Secondary Data:

Secondary Data comprises of information obtained from annual reports,

brochures, manuals websites etc.

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 BIBILOGRAPHY

http://www.ibef.org/industry/india-automobiles.aspx

http://en.wikipedia.org/wiki/Hero_MotoCorp

http://www.heromotocorp.com/en-in/

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