Motorcycle - Bajaj Auto Essay Example for Free

Motorcycle Bajaj Auto Essay The research project was undertaken to study the consumer preferences towards 150 cc motorcycles in Ludhiana city. Consumer is said to be the pivot around which the entire business activities revolve and thus it is necessary to know that how individuals make decisions. Primary data were collected from a sample of 120 respondents which was taken from the service centers of the motorcycle outlets. The factors leading to need arousal for 150 cc motorcycles were identified as availability of better pick up and elegant appearance. The main source of information about the motorcycle has been the media both print and electronic. The  decision to purchase a particular brand of motorcycle was mostly made by the customer himself. The important factors considered while purchasing a motorcycle were pick up, styling and fuel efficiency. Bajaj Pulsar provides highest satisfaction in case of pick up, comfort, after sales service and maintenance cost whereas TVS Apache provides highest satisfaction in case of appearance/design and mileage. 2 CERTIFICATE Certified that this project report â€Å"STUDY OF CONSUMER PREFERENCES TOWARDS 150CC MOTORCYCLES IN LUDHIANA CITY† is the bonafide work of â€Å" HARPINDER SINGH†. Who carried out the project work under my supervision. (Dr.MEENAL CHAUHAN) 3 CONTENTS Chapter Topic Page I INTRODUCTION 5 II REVIEW OF LITERATURE 13 III OBJECTIVES OF STUDY 17 IV RESEARCH METHODOLOGY 18 ANALYSIS FINDINGS LIMITATIONS 20 48 49 V SUMMARY 50 ANNEXURES 53 REFERNCES 56 4 CHAPTER -1 INTRODUCTION Customers today are more informed and demanding than ever. They know quality service, when they get it and they are not afraid of taking their business elsewhere if they don’t get it. Refusals to acknowledge this reality can spell failure/rejection by the one who holds the purse strings and the key to profits. Satisfaction of customer needs, in fact, provides a rationale for the firm’s  existence. Therefore customer behavior lies at the heart of modern marketing and its knowledge is vital for a firm’s existence, growth and success. An understanding of the motives underlying the consumer behaviour helps a firm to seek better and more effective way to satisfy customers. Consumer behaviour is the behaviour that a consumer displays in searching for; purchasing, using, evaluating and disposing of products and services that he expects will satisfy his needs. It helps marketers know that how an individual makes decision to spend his available resources (money, time, and effort) on consumption related items. However consumer behavior is a complex system where there is an interaction of various social, economic and psychological factors. All these factors affect the purchase decision of the buyer and his perception about different products. Purchase behaviour involves two types of purchases: trial purchases (the exploratory phase in which consumer attempts to evaluate a product through direct use) and repeat purchases which usually signify that the product meets with consumer’s approval and that the consumer is willing to use it again. Moreover, purchase behaviour incorporates all the activities that human being  indulges in his role of consumer, from the time when he feels a state of deprivation (need arousal) to that point of time when he obtains a means of need satisfaction 5 (purchase) and finally to the point of time when he has used this means for a suitability long period of time to judge the level of satisfaction it provides (post purchase evaluation). Satisfaction of consumer needs is one of the main objectives of manufacturers and marketers. The company that really understands how the customer responds to different product features, prices and advertising appeals has an enormous advantage over its competitors. In today’s era of competition, a stage has reached that it is necessary to know the perceptions, needs and preferences of the target market and to incorporate the desired features in the product to be sold to the consumer. Although, it is not easy to say which customer will go for which features of the product, yet marketers do make efforts to know the features for which most of the people of a particular segment of society look for. A successful marketer is the one who effectively develops and produces brands that are of value to the consumer and who effectively presents these products and brands to the consumer in an  appealing and persuasive way. The need to travel is as old as man himself. As the requirement for basic personal transportation came to the forefront, two wheelers came into picture. In the past, selling a scooter was not a problem for their manufactures. Consumer’s choice was limited and the demarcation clear, but as more and more companies jumped into fray and churned out quite a number of models, the consumer who till now didn’t have much of a choice, became demanding and knowledgeable. Thus it became necessary for the producers and sellers to understand the perception,  attitudes and preferences of their target markets and to load their scooters with features that added value to the product. Scooter as a product falls in the category of consumer durables i. e. it serves many uses, requires more personal selling, service and sellers guarantee as compared to consumer non-durables. In today’s society there is sufficient 6 disposable/discretionary income with large number of people to be in the market for a durable at one time or the other. Also, the consumer attitudes have changed and awareness has grown due to communication explosion. Today, two wheeler industry caters to the changing demands of the  consumers. The consumer’s decision to purchase or reject a product is the moment of final truth for the marketer. Consumer is hard to please and very discriminating. He is very judicious in making choices. The purchase of any product by him depends on the value of product to him. 1. 1 Two Wheeler Industry Automobile industry, as a whole contributes a significant chunk in the gross national income of the country. Faced with a public transport system, which is woefully inadequate, inefficient and undependable, the Indian customer is being increasingly forced to personal means of transportation. Private cars are ruled out for general public because of their high cost of operation and maintenance; bicycles have the disadvantage of being slow and having low load bearing capacity, hence two wheelers have been the choice of middle class families because of their comparatively low price, low running cost and easy parking ability. The two wheeler industry has shown a steep growth in the recent years, even The two wheelers have moved out of the realms of the college going student and entered the corporate offices also. With the ever-increasing prices of fuel, two wheelers offer a cheaper option than the four wheelers. The two wheelers have also emerged as a viable option to take pressure off the public transport system, which has been dwindling with every passing day. For ages Indian buyer had limited choice as one had to wait for several months to get a Bajaj scooter, however today the scenario has changed with over 50 models available to the Indian consumer. These models keep every need of the Indian consumer in mind. 7 Table1:MarketShares(09-10) Scooters % Market share Honda MSI 62. 8 TVS 28. 0 Bajaj 2. 5 Kinetic 6. 7 Motorcycles % Market share Hero Honda 45. 8 Bajaj 32. 4 TVS 14. 9 Yamaha 3. 8 Honda MSI 1. 8 LML Kinetic 0. 1 Royal Enfield 0. 4 Majestic Suzuki Motorcycle India 0. 7 Mopeds % Market share TVS 92. 6 Majestic 2. 0 Kinetic 5. 4 Source: Society of Indian Automobile Manufacturers (SIAM) 1. 1. 1 Production of Two Wheelers The production of two wheelers has merely reflected the way the market has developed over the recent years. Here is a brief look about the production trend of two wheelers including scooters, motorcycles and mopeds in the country based on the data provided by Society of Indian Automobile Manufacturers (SIAM). 8 Table 2: Productions of Two Wheelers (Figures in 000) Year Scooters Motorcycles Mopeds Total 2005-06 938 2906 427 4271 2006-07 848 3876 352 5076 2007-08 935 4355 332 5623 2008-09 987 5194 348 6530 2009-10 1020 6201 380 7601 Source: Society of Indian Automobile Manufacturers (SIAM) (2009-10) Table 1. 2 shows that production for two wheelers have increased for the last five years. The two wheeler industry has experienced an accelerating thrust for the last 5 years. As table shows production of two wheelers which was 42. 71 lakhs in 2005-06 has increased to 76. 01 lakhs in 2009-10. 1. 2 THE MOTORCYCLE INDUSTRY BOOM The Indian two wheeler industry has been undergoing a massive change. The population explosion, the transition from scooters to motorcycles, from 2-stroke engines to 4-stroke, from smaller engines to bigger ones everything seems to be happening at the same time. The growth of the segment has been significant in the last 10 years particularly when the consumer preference has shifted from scooters to motorcycles and from 2-stroke to 4-stroke engines. 9 All this has been an outcome of a steady rise in the level of individual income, a change in the mind-set brought about by the spread of education and pervasiveness of media, a growing need for personalized transport among the  members of all age-groups, etc. No more is a vehicle treated as just a commodity but has become an integral part of ones personality. It is then only natural that everything else associated with this industry should change too. The demand for motorcycles has been influenced by a number of factors over the past five years. The key demand drivers for the growth of the motorcycle industry are as follows:Inadequate public transportation system, especially in the semi-urban and rural areas; Increased availability of cheap consumer financing in the past 3-4 years; Increasing availability of fuel-efficient and low-maintenance models. Increasing urbanization, which creates a need for personal transportation Changes in the demographic profile; Difference between two wheeler and passenger car prices, which makes two wheelers the entry-level vehicle; Steady increase in per capita income over the past five years; and Increasing number of models with different features to satisfy diverse consumer needs. The Indian two wheeler industry has undergone a significant change over the past 10 years with the preference changing from scooters and mopeds to motorcycles. The scooters segment was the largest till FY1998, accounting for  around 42% of the two wheeler sales (motorcycles and mopeds accounted for 37% and 21 % of the market respectively, that year). However, the motorcycles segment that had witnessed high growth (since FY1994) became larger than the scooter 10 segment in terms of market share for the first time in FY1999. Between FY1996 and 9MFY2009, the motorcycles segment more than doubled its share of the two wheeler industry to 79% even as the market shares of scooters and mopeds stood lower at 16% and 5%, respectively. While scooter sales declined sharply by 28% in FY2005, motorcycle sales reported a healthy growth of 20%, indicating a clear  shift in consumer preference. This shift, which continues, has been prompted by two major factors: change in the countrys demographic profile, and technological advancements. In an effort to satisfy the distinct needs of consumers, producers are identifying emerging consumer preferences and developing new models. For instance, motorcycles with engine capacity over 150 cc, is a segment that has witnessed significant new product launches and hence, become more competitive. The indigenously launched Pulsar 150 had met with success on its launch and thereafter, a host of models have been launched in this segment by various players. While Bajaj Auto launched the Pulsar (150 and 180 cc) with digital twin spark technology (DTSi) that offers a powerful engine and fuel efficiency of 125 cc models, model launches by other players include LMLs Graptor/Beamer, HMSIs Unicorn besides the HHMLs CBZ (improved version launched in 2007-08) and TVS Fiero F2. The products in this segment cater for style conscious consumers. Quite a few players are developing models combining features such as higher engine capacity with optimum mix of power and performance, and superior styling. However, the extent of shift to these products would depend on the  positioning of such products in terms of price. 1. 3Need of the study 11 The study makes significant contributions to consumer preferences concerned with 150 cc motorcycles. Various attributes, affecting purchase of 150 cc motorcycles have been identified and the existing prominent brands of 150 cc motorcycles have been compared on the basis of various attributes. These findings will be useful for both students as well as teachers of the subject. The study will have great implications from marketer’s point of view in sales strategy formulation. Knowledge of the factors, considered important by the consumer would be helpful to the marketers for adopting more efficient manufacturing tools. | Analysis of the post purchase feelings of 150 cc motorcycles respondents and the interpretations thereof, together with the findings of the factors determining the brand preferences can be helpful to both manufacturers as well as dealers of 150 cc motorcycles thereby enabling them to meet the requirements of the market more effectively and efficiently. CHAPTER-2 REVIEW OF LITERATURE A brief review of the literature is of immense importance with respect to any research. It is essential for understanding the scope and spectrum of research  objectives. Various aspects of consumer preference like consumer satisfaction, impact of various attributes on purchase behavior, consumer perception, and consumer dissatisfaction are measured. 12 . Dhar and Sherman (1996) examined the effect of common and unique features in consumer choice. They said that consumer choice often involved a comparison among the available alternatives. It was proposed that attractiveness of the choice set could be enhanced or reduced by altering features, which appeared unique. Chernev (1997) examined the effect of common features on brand choice and moderating role of attribute importance. It was argued that when brand attributes differed in importance, common features were likely to enhance consumer preferences for the option with the best value on the most important attribute, thus further polarizing brands’ choice shares. In contrast when attributes were similar in importance, common features were likely to have an opposite effect, equalizing brand shares. Thus, when attributes had equal importance, adding a common feature to a pair of options leads to an equalization of choice shares, whereas, when attributes differed in importance, common features  enhanced the choice share of the option with the best value on the most important attribute, leading to a further polarization of brands’ choice shares. Dhar et al (1999) suggested that the construction of both similarity and preference judgments could be captured by a feature-matching model that allowed for shifts in the relative weights assigned to the various features of the alternatives being compared. An application of this model was that engaging in one comparative process (e. g. , similarity) can influence the relative weight assigned to the features that were considered in a second comparative judgment (e. g. , preference). The effect of engaging in an initial comparison task on subsequent 13 preference judgments was tested for stimulus-based choice sets. The results on choice deferral and choice satisfaction were consistent with the notion that engaging in similarity/dissimilarity comparisons altered the relative weight assigned to common and unique features for the two alternatives. Heilman et al (2000) examined how brand preferences and response to marketing activity evolved for consumers new to a market. They developed a theoretical framework that began with a consumer’s first-ever purchase in a  product category and described subsequent purchases as components of sequential stages. The theory was based on the notion that choices made by the consumer new to a market were driven by two competing forces: consumers’ desire to collect information about alternatives and their aversion to trying risky ones. The results showed the importance of accounting for product experience and learning when studying the dynamic choice processes of consumers new to a market. Ofir and Simonson (2001) in their study found that the customer evaluations of quality and satisfaction were critical inputs in development of marketing strategies. Given the increasingly common practice of asking such evaluations, buyers of products and services often knew in advance that they subsequently would be asked to provide their evaluations. In a series of field and laboratory studies, the author demonstrated that expecting to be evaluated leads to less favorable quality and satisfaction evaluations and reduces customer’s willingness to purchase and recommend the evaluated services. The negative bias of expected evaluations was observed when actual quality was either low or high, and it persisted even when buyers were told explicitly to consider both the positive  and negative aspects. Tamizhselvan and Vijayakumar (2002) analyzed the significance of personal characteristics of consumers in determining the brand preference for soft 14 drinks in Coimbatore district. The study also identified the factors considered important in buying behavior, the reasons of brand preferred by the consumers and the factors considered in the frequency of buying. It was concluded that the personal characteristics like sex, age, marital status, occupation, monthly income and expenditure, type of family and size of family had a significant influence on brand preference and buying behavior of the consumers. Bhattacharya and Sen (2003) tried to determine why and under what conditions consumers entered into strong, committed and meaningful relationships with certain companies, became champions of these companies and their products. The authors proposed that strong consumer-company relationships often resulted from consumers’ identification with those companies, which helped them to satisfy one or more important self-definitional needs. Aggarwal (2005) stated that when consumers formed relationships with brands, they use norms of interpersonal relationships as a guide in their brand assessments. Two relationship types were examined: exchange relationships in which benefits were given to others to get something back and communal relationships in which benefits were given to show concern for other’s needs. The conceptual model proposed that an adherence to or a violation of these relationship norms influenced the appraisal of the specific marketing action and also the overall brand evaluations. Erdem and Swait (2006) examined the role of brand credibility (trustworthiness and expertise) on brand choice and consideration across multiple product categories that vary in regard potential uncertainty about attributes and  associated information acquisition costs and perceived risks of consumption. It was found that brand credibility increased probability of inclusion of a brand in the consideration set, as well as brand choice conditional on consideration. It was also 15 found that although credibility impacts brand choice and consideration set formation more and through more constructs in contexts with high uncertainty and sensitivity to such uncertainty, credibility effects were present in all categories. Finally, the results indicated that trustworthiness, rather than expertise, affected consumer choice and brand consideration more. Simonson (2007) examined the basic assumptions underlying individual marketing and presented a process model of customers’ responses to customized offers. The model addressed (1) preference development (2) evaluation of customized offers (3) likelihood of purchasing the customized offers and (4) maintenance of relationships with one-to-one marketers. The analysis leaded to specific propositions regarding determinants of customers’ responses to customized offers. The author also discussed future research directions and managerial implications. It can be concluded that many studies have been done to study the various  factors related to impact of various attributes on purchase behavior, consumer perception, customer satisfaction and dissatisfaction, etc. A study is required to identify the attributes considered while purchasing and compare selected brands on basis of these attributes. CHAPTER-3 OBJECTIVES OF STUDY:- The present study aims at evaluating factors of 150 cc motorcycles affecting their purchase and on the basis of these factors to give suggestions to the brands to 16 improve the market share of their respective products. More specifically, objectives of study are: 1. To identify the attributes considered while purchasing the selected brands of  150 cc motorcycles. 2. To compare selected brands of 150 cc motorcycles on basis of attributes. 3. To study the consumer preferences towards the 150 cc Motor Cycles. 4. To study the factors that influences the purchase of 150 cc motorcycle. 5. To determine the need of purchase of 150 cc motorcycle CHAPTER 4 RESEARCH METHODOLOGY :- MATERIALS AND METHODS The present chapter describes the research methodology of the study. In order to satisfy the objectives, this chapter explains in detail the research methodology which is divided into five sections: Section 4. 1 deals with research framework; Section 4. 2 deals with population and sample selection; Section 4. 3 17 deals with data collection; Section 4. 4 deals with analysis of data and Section 4. 5 deals with limitations of the study. 4. 1 Research Framework The present study is based on the objectives of identifying the attributes considered while purchasing the selected brands of 150 cc motorcycles and to compare selected brands of 150 cc motorcycles on basis of these attributes in the city of Ludhiana. The study uses both primary and secondary information. The research design for the present study is descriptive. The motorcycles available for  the study are Bajaj Pulsar, Hero Honda CBZ, Honda Unicorn and TVS Apache. As it is clear from the objectives of the study, the study was divided into two parts i. e. to identify the attributes considered while purchasing the selected brands of 150 cc motorcycles and then to compare selected brands of 150 cc motorcycles on basis of these attributes. For both the objectives of the study, primary data was collected through a structured questionnaire. Then in order to arrive at the results proper statistical tools were used on the information collected from the respondents. 4. 2 Population and Sample Selection. ThepopulationofthestudyincludesthepersonsinLudhianacitywho owned a 150 cc motorcycle. For meeting the first objective, list of dealers dealing in 150 cc motorcycles in Ludhiana was prepared. Sample was collected in two stages. In the first stage, two dealers each of the four companies in the city were selected randomly from the available list of dealers for four companies. In the second stage of sample selection, service centers of each of the selected dealers 18 were visited. At each service center, 15 respondents were contacted. The sample size was 120. The following dealers were selected: 1. Bajaj Pulsar. ?Dada Bajaj, Savitiri Complex, Dholewal Chowk, Ludhiana ?Impact Bajaj, Sherpur Chowk, GT Road By Pass, Ludhiana 2. Hero Honda CBZ/Achiver ?Nihal Singh Motors, Ferozepur Road, Ludhiana ?Stan Wheels (P) Ltd. , G T Road, Near Sherpur Chowk, Ludhiana 3. TVS Apache ?Gulzar Trading Company, Dholewal, Ludhiana ?TVS Gulzar, Near Aarti Chowk, Ludhiana 4. Honda Unicorn ?Sarvpriya Autos Pvt. Ltd. , Ferozepur Road, Ludhiana ?Pioneer Honda, G T Road, Dholewal, Ludhiana 4. 3 Data Collection Keeping in view the objectives of this study, both primary and secondary data were required. A structured and non-disguised questionnaire was prepared for  collecting primary information from the customers. Questionnaire is shown in Annexure-I. Questions were asked relating to their income, occupation, about factors which were considered by the respondents while purchasing a motor bike, 19 about factors influencing them to purchase, rating of different brands of 150 cc motorcycles and satisfaction level from the various motorcycles. The questions asked were multiple choice and open ended. Five points scale was used. For classification of attributes the following points were used: most important (MI), important (I), neutral (N), unimportant (UI) and most unimportant (M. U. I). Secondary data was collected from various journals /magazines, websites and dealers regarding the market performance of these motorcycles. 4. 4 Data Analysis The data collected with the help of questionnaires were analyzed with the help of percentages, means, weighted mean scores etc. In order to find importance given to various attributes of a 150 cc motorcycles by the buyer at the time of purchase, weighted mean scores were calculated and each attribute was ranked on the basis of weighted mean scores. Mean score was calculated for the questions asked on a 5-point scale. In the  5-point scale the respondents were asked to indicate their degree of importance they showed for various attributes related to the 150 cc motorcycles from most important to most unimportant. Scores were assigned from 1 to 5 for the degree of importance (1 for most important, 2 for important, 3 for neutral, 4 for unimportant and 5 for most unimportant). Frequencies were multiplied with their respective weights and aggregate values were found out. Mean score was calculated using the formula: Mean score = ? wifn/n i = 1 to 5 n = 30 for each brand respondents 20 where, wi = Weight attached for degree of importance  fn = Associated frequency n = Number of respondents. If the mean score was more than the middle point of the scale, it was concluded that the respondents by and large tend to agree with the statement. 21 RESULTS AND DISCUSSION This chapter contains the results and discussion of the primary data collected from the respondents. The study is conducted to identify the attributes considered while purchasing the selected brands of 150 cc motorcycles and to compare selected brands of 150 cc motorcycles on basis of these attributes. This chapter is divided into four sections: Section 4. 4. 1 deals with demographic profile of the respondents; Section 4. 4. 2 deals with identification of the attributes considered while purchasing the selected brands of 150 cc motorcycles; Section 4. 4. 3 deals with Satisfaction from selected brands of 150 cc motorcycles on the basis of various attributes. 4. 4. 1 Demographic profile of the respondents The demographic profile of the respondents has been classified on the basis of age, occupation, education and family income. 4. 4. 1. 1 Classification on the basis of age Age of a person is considered as an important factor in decision making and choice made by the person. The respondents were classified into four different age groups. The age classification of the respondents is given in Table 4. 4. 1. 1 22 Table 4. 4. 1. 1: Age wise distribution of respondents Age Bajaj Pulsar Hero Honda CBZ TVS Apache Honda Unicorn Total Below 25 14 11 15 13 53 25-35 13 13 11 10 47 35-45 3 6 4 5 18 Above 45 0 0 0 2 2 Total 30 30 30 30 120 14 13 3 0 11 13 6 0 15 11 4 0 13 10 5 2 0 2 4 6 8 10 12 14 16 Bajaj Pulsar Hero Honda CBZ /Ach iever TVS Apache Honda Unicorn Age wise distribution of respondents Below 25 25-35 35-45 Above 45. ANALYSIS INTERPRETATION: On the overall most of the respondents i.e. 53 were below the age of 25 and about 47 in the age group of 25-35 and rest above 35. If we analyze for each motorcycle separately, it was seen that around 75% of motorcycle users in case of Bajaj Pulsar and Hero Honda CBZ and around 70% in case of Honda Unicorn and TVS Apache were below the age of 30 which eventually means that a major chunk of the motorcycle market includes youth only. 23 4. 4. 1. 2 Classification on the basis of occupation The respondents were surveyed about their occupation as it plays an important role in the purchase behaviour and affects consumer’s preferences. The  classification according to occupation is shown in Table 4. 4. 1. 2. Table 4. 4. 1. 2: Occupation wise distribution of respondents Occupation category Bajaj Pulsar Hero Honda CBZ TVS Apache Honda Unicorn Total Student 20 19 21 17 77 Business 6 6 6 7 25 Profession 3 4 3 6 16 Others 1 1 0 0 2 Total 30 30 30 30 120 ANALYSIS INTERPRETATION: 24 As regards the occupation profile of the 150 cc motorcycle owners, there was not much difference between the four motorcycles. The student community dominates in all the four brands (about 70%), while the ratio business to profession is around 2:1 on average. 4. 4. 1. 3 Classification on the basis of education level The educational qualification also effects the behavior of a person as it shows how informed a choice was made while buying something. Also it is generally assumed that qualification is directly related to the kind of job a person is engaged in. Therefore, the respondents were classified according to educational qualifications in Table 4. 4. 1. 3. Table 4. 4. 1. 3: Education wise distribution of respondents EDUCATION Bajaj Pulsar Hero Honda CBZ TVS Apache Honda Unicorn Total Under-Gradua te 16 20 18 15 69 Graduate 7 4 6 7 24 Post-graduate 4 2 3 4 13. Professional 3 4 3 4 14 TOTAL 30 30 30 30 120 25 16 7 4 3 20 4 2 4 18 6 3 3 15 7 4 4 0 2 4 6 8 10 12 14 16 18 20 Bajaj Pulsar Hero Honda CBZ/ Achiever TVS Apache Honda Unicorn Education wise distribution of respondents Under-Graduate Graduate Post-graduate Professional ANALYSIS INTERPRETATION: As regards to education characteristic, it is seen that most of the respondents are either undergraduates or graduates. This fact is in conjunction with the fact that a major chunk of 150 cc motorcycle owners belong to the age group of below 25 and are mostly students 4. 4. 1. 4. Classification on the basis of family income. One of the most important factors influencing the consumer preferences is the income of the respondents. The income determines the choice of a respondent particularly in brand selection and the brand personality that a person associates 26 with himself. The classification of respondents according to their family income is given in table 4. 4. 1. Table 4. 4. 1. 4: Income wise distribution of respondents Family Income Bajaj Pulsar Hero Honda CBZ TVS Apache Honda Unicorn TOTAL Below 1,50,000 3 2 2 3 10 1,50,000-2,00 ,000 9 9 10 8 36 2,00,000-2,50 ,000 14 13 10 13 50 Above 2,50,000 4 6 8 6 24 27 3 9. 14 4 2 9 13 6 2 10 10 8 3 8 13 6 0 2 4 6 8 10 12 14 Bajaj Pulsar Hero Honda CBZ/ Achiever TVS Apache Honda Unicorn Income wise distribution of respondents Below 1,50,000 1,50,000-2,00,000 2,00,000-2,50,000 Above 2,50,000 ANALYSIS INTERPRETATION: The maximum percentage of respondents (around 60%) are in the higher income groups i. e. above 2,00,000, about 30% of the respondents fall in 150000-200000, nearly 42% in 200000-250000 , and the highest income group above 2,50,000 accounts for about 1/5th of the respondents . 28 4. 4. 2 Identification of the attributes considered while purchasing the  selected brands of 150 cc motorcycles. This section deals with identification of the various factors, affecting preferences of the 150 cc motorcycle respondents. Preferences of respondents were identified by studying the various attributes of 150 cc motorcycle, which affected the purchase decision of the respondents and also by studying the post purchase satisfaction of the 150 cc motorcycle respondents. The decision to buy any product is influenced by a number of factors. The factors might be those, arousing need for the 150 cc motorcycle. Various influencers might have affected the purchase decision of resp.

Meditation :: essays research papers

Webster's dictionary defines meditation as "to reflect on; ponder, to engage in contemplation," which it really is, although, many people believe that meditation is a means of developing a more spiritual or religious life. Meditation does not necessarily have to be religious. Many people just meditate to relax or organize their thoughts. Meditation is a very broad subject since there are many ways in which to perform meditation. Not only are there many ways but, there are also many different religions associated with meditation. Not only is meditation good for the soul but, it is also good for the mind. I myself have experimented with meditation and have found it to be very relaxing and at the same time stimulating. One way to perform meditation is to first find a comfortable place to sit or lie down. Then you must have a precise, intense focus on one object. Follow and control your breath and note all of your body sensations or track the sequence of your thoughts. Second, be allowing to any thoughts that may enter your head. Be spacious and open- hearted. This is excellent for the mind. Another form that is good for the body is body relaxation. First lie on your back on the floor, a supportive bed or a couch. Close your eyes and rest for a moment. Wait for a feeling of readiness. When you are ready to begin, tighten all the muscles that you can, but never tighten them to the point of discomfort. Hold this for thirty seconds. Next pay close attention to the sensation you feel and remember it. Then let all your muscles go and allow them to relax. Compare the feeling that you are feeling to the one that you had just felt minutes ago. After a few minutes repeat this but, allow your muscles to relax for a longer amount of time. Yoga, another form of meditation, teaches an eightfold path beginning with the acquisition of pure moral attitudes, proceeding through practices of breath control and postures designed to allow a person to concentrate without having his or her mind distracted by outside forces. By concentrating on progressively more abstract concepts the person achieves higher and higher meditative states, culminating in a contentless trance that constitutes liberation. Yogis, people that perform yoga, in more advanced stages of this process are said to be gifted with remarkable powers , such as special capacities for sight, an ability to levitate and to project their minds into other bodies, and so on. Religion is a major factor in meditation.

Largest brand in L’Oreal group Essay

The company of my product is Garnier. Garnier is a company that produces cosmetics and hair care products. It was founded in 1904.For more than 100 years; Garnier has been creating new and available cosmetics to cover multiple beauty needs. Garnier is the second largest brand in L’Oreal group. Garnier is in the fast moving consumer goods sector. Garnier produces hair care products, including the Fructis line, and most recently skin care products under the name, Nutritioniste, that are sold around the world. Garnier is also a mass market cosmetics brand. The company’s product lines are targeted for different skin types and cultures. Garnier has a line of extensive range of beauty products. The company has changed as it has become part of the L’Oreal group. This means that there are more competitors to the company because it has joined a very competitive brand. Also the company will gain a lot of customer because of L’Oreal. Garnier also partnered with TerraCycle to promote their product containers and the introduction of biodegradable products. Garniers first product was made by Alfred Garnier in 1904. This was a hair tonic product. After this, Garnier developed their products into sun care items in 1936. Garnier also started to produce Garnier Fructis hair cares and Garnier Fructis style products. This shows that Garnier has changed their products into different segments to aim at different markets. Garnier also changed their shampoo products from dandruff control to colour protection. Garniers mission is to continue producing hair products made with natural ingredients. The full company name, Laboratories Garnier, originated in the 1920’s as a producer of hair care products made with organic ingredients. Also, Garniers objectives were to capture market share in a wide range of benefit-oriented segments of the hair care market. Garnier promised their market that they will deliver affordable but sophisticated products on a range of needs. To keep their promise, Garnier promoted its hair care products as natural and high technology. Their objective is to reduce by 50% of their environmental impact in the following areas by 2015: Greenhouse gas emissions Water consumption Waste generated per product unit As Garnier joined with L’Oreal, their competitors changed, Garniers competitors were Unilever and P&G. As you can see, these two companies are very high in competition. Garnier has launched their products in USA as well which has given them more competitors. Garnier operates in the tertiary sector as well as secondary. As you can see, Garnier manufactures their products as well selling them to their market. Sources: http://www.mbaskool.com/brandguide/fmcg/1120-garnier-fructis.pdfhttp://www.studymode.com/essays/Garnier-Report-1374615.html http://www.studymode.com/essays/Garnier-1233052.html http://www.slideshare.net/DebasishPadhy/garnier-fructis The product is Garnier Fructis Strength and Shine 2 in 1 shampoo and conditioner. The target market for this product is adults. I have chosen this product because it has both shampoo and conditioner in it. Also the product is mainly aimed at women’s. This product is designed to smooth normal hair and leaving it glossy. I will adapt the use of this product. Also I will change who the product is aimed at. This product makes hair -feel nourished -shinier -smoother -and stronger. Also this product has grape fruit extracts. This means that the developed product will have different fruit extracts which will attract the target market. I have changed this product into a 2 in 1 shampoo and conditioner for teens and young adults aged between (15-19). I have chosen this product because in my research I found that Garnier currently only have shampoo and conditioner together for adults (mainly women’s) and not for teens or young adults. The target market for this product will be young adults. This is because young adults would be interested in hair care products to keep their hair secure and good looking, also there are not many hair products for young adults produced by this company therefore it would be a new release in the market for this target market products. The price of the shampoo is  £2.54 and the price of the conditioner is  £2.54.The use of this product is to perform two different functions in one go .I would set the price at an average because young adults would want to spend on a high price on their products but would prefer at an average . The price would be about  £5-6 pounds. I have set the price high because other shampoos that are aimed at this target market are at a high price such as ‘Bed head’. The costs of shampoos made by this company is around  £10.00 Also the product will be sold with difference fragrances which will also attract the young adults because the smell will be on their hair. These will be artificial fragrances of fruits. This is an advantage because they care a lot about their hair and would want it to be in good condition .This product would be a good choice for people who buy Garnier products because it is a new product that has not been produced by this company. I have found out that there are more hair care products for adults rather than teens and young adults. My competition is Pantene. I found this in my research. Marketing strategies- used different market strategies in order to penetrate the market. -Aggressive -Add value -Market segment Competitors- strengths and weaknesses of the competitors. How I gain advantage from the competitors Have they got a usp that im gnna build up on. Extensions strategies used for other products in the company. Where are the products in the life cycle Where does your product fit into that life cycle.

accounting information system - 2794 Words

Chapter 1 Accounting Information Systems and the Accountant True-False Questions 1. The acronym AIS stands for â€Å"Accounting Information Standards.† 2. Accounting information systems must be computerized to be effective. 3. It is best to view an AIS as an accounting system that must be computerized. 4. AISs often create information that is useful to non-accountants. 5. In order to be useful, raw accounting data must be processed by a computer. 6. The path that data follow in an AIS, for example from manual source document to completed output report, is called an audit trail. 7. A companys audit trail is normally easier to follow under a manual data processing system compared to a computerized information processing system. 8.†¦show more content†¦37. As used in Chapter 1, a dashboard is an up-to-the-minute graphic depiction of one or more business activities. 38. The purpose of the assurance services of an accounting firm is to give a company’s managers moral support when they are audited by the federal or state government. 39. The purpose of CPA Trust Services is to provide assurance that a company engaged in electronic commerce can provide the goods or services it promises. 40. An example of a value-added reseller (VAR) is a computer dealer that adds software to the hardware it sells. 41. Some possible career opportunities for AIS majors or minors include consulting positions, computerized auditing, or system computer auditing positions. 42. Accountants are usually classified as â€Å"line workers† within business organizations. 43. Todays AIS is an enterprise-wide information system that focuses on interdepartmental business processes. 44. Managerial accounting principally provides decision making information to a companys internal managers. 45. As a result of computerized information processing systems in many organizations today, the need for accountants in these organizations has significantly declined. 46. Activity-based costing systems focus on allocating overhead on the basis of direct labor hours used. 47. Because accountants are not normally computer programmers working within the information processing subsystem, it is unnecessary for them to understand the capabilities andShow MoreRelatedAccounting Information System1811 Words   |  8 PagesDiscussion I. I. Accounting information system is a combination of collecting, recording, storing, and processing data of a business. The advancement of technology initiates business firms to seek for new innovations that would greatly help in business functions. 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ABSTRACT Managerial decision making normally relies upon an effective information system. At present many firms are using accounting software to prepare accounting reports very quick, perfectlyRead MoreThe Adoption Of Cloud Based Accounting Information System1784 Words   |  8 Pagesreport is to critically analyze the adoption of cloud based accounting information system (AIS) in business organizations and also its challenges and benefits of cloud based environment. Cloud accounting (SAASU 2014, para 3) is also called ‘online accounting’, which provides the same service as accounting software and data is securely stored on servers known as the cloud. According to Emma Watkins (Demand Media 2014, para 1), â€Å"cloud accounting is the use of computer hardware and software applicationsRead MoreThe Adoption Of Cloud Based Accounting Information System2021 Words   |  9 Pagesreport is to critically analyze the adoption of cloud based accounting information system (AIS) in busin ess organizations and also its challenges and benefits of cloud based environment. Cloud accounting (SAASU 20124, para 3) is also called ‘online accounting’, which provides the same service as accounting software and data is securely stored on servers as known as the cloud. According to Emma Watkins (Demand Media 2014, para 1), â€Å"cloud accounting is the use of computer hardware and software applicationsRead MoreAccounting Information System 53570 Words   |  15 Pages1450-223X Issue 4 (2009), pp36-44  © EuroJournals Publishing, Inc. 2009 http://www.eurojournals.com/ajsr.htm Accounting Information Systems (AIS) and Knowledge Management: A Case Study Zulkarnain Muhamad Sori Department of Accounting and Finance, Faculty of Economics and Management Universiti Putra Malaysia Abstract This study seeks to examine the use of Accounting Information Systems (AIS) by ZBMS Sdn. Bhd., and it’s contribution to the knowledge management and strategic role of the organisationRead MorePayroll Fraud And Accounting Information Systems1391 Words   |  6 Pages Payroll Fraud and Accounting Information Systems Stephanie Ace and Nisha Selvam Payroll systems have evolved tremendously as software and computerized systems have spread throughout the workplace. While this has alleviated some of the hassle involved with processing payroll, it has also opened up a world of potential issues. Oftentimes, systems that appear both effective and efficient can become vulnerable if placed in the hands of dishonest employees or employers