Brand Analysis of Nexa: February 2017

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Brand Analysis of Nexa
Article · February 2017
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Komal Chopra
Symbiosis Institute of Management Studies,Pune
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International Journal of Research in Finance and Marketing (IJRFM)
Available online at : http://euroasiapub.org/current.php?title=IJRFM
Vol. 7 Issue 2, February - 2017, pp. 155~162
ISSN(o): 2231-5985 | Impact Factor: 6.397 | Thomson Reuters Researcher ID: L-5236-2015
Brand Analysis of Nexa
Dr Komal Chopra
Amit Singh
Kamit Malhotra
Dhruv Duggal
Symbiosis Institute of Management Studies
Abstract
The purpose of this research is to analyze NEXA as a Premium Brand. It is known that Maruti
Automobile Brands are not seen as a Premium Brands. NEXA is a differentiated and leading
Indian brand which is acquiring a good amount of reputation and huge amount of sales in
the Indian Market, which was the main target market from the inception of NEXA. Maruti
Suzuki, which is ranked as India’s largest car selling company has been quite successful in
maintaining this coveted rank for years. However, in the early 1990s, when the market was
opened up, Maruti Suzuki was controlling more than 60 % of the market which was not
expected throughout the market. However, this company was not the one without much of
problems. The vital issue which the company faced at a given point in time was perception.
NEXA – the next generation showroom is Maruti’s earnest chance to win over a generation
of customers who are tech savvy and care a lot about Brand image.
Key words: Automobile, Maruti Suzuki, NEXA, Marketing
Purpose of study
In various part of the world, consumers always tend to have different kinds of services and
products without having to know much about that the proper usage of that product and product’s
specification. Customers are purchasing inadvertently different brands which they have not used
before. In lot of cases, consumers tend to buy without having much deep understanding about the
new service or product. This study will help to evaluate the present position of Brand NEXA among
International Journal of Research in Finance & Marketing

Email:- editorijrim@gmail.com, http://www.euroasiapub.org 155
An open access scholarly, peer-reviewed, interdisciplinary, monthly, and fully refereed journal
Vol. 7 Issue 2, February - 2017
ISSN(o): 2231-5985 | Impact Factor: 6.397 |
the existing customers. The study eventually helps to identify the vital reason why consumers like
NEXA, which is the most important feature of NEXA cars, in which way consumers demand
modification on existing models, how much is the level of customer acceptance. And also is there
some kind of apprehension in mind of existing customers and the reason for their apprehensions.
Review of Literature
Gerald D Bell (1967) researches how a new car purchaser feels about the purchase and what
factors determine his response when he starts using his new car. The result of this research
suggests the effect of a consumer self-confidence and his personality with the the quality of buying
environment he receives upon his cognitive dissonance.
Dr.Garima Malik(2008) demonstrates a study on customer perception and the expectations from
Tata Nano Conducted by Asst.Prof in Amity Business School- Noida. Main highlights of the study
are, to understand the general perception about NANO, factors which would influence the buying
decision and consumer expectations from NANO
R.C.Bhargava(2010), The Maruti Story, flays emphasis on the developments of Maruti Suzuki.
Mr.Bhargava in this book looked upon that Maruti Udyog establishing high standards of
productivity and consumer care in the Indian automobile industry at large.
C. W Park et al (1994) understanding the customer has observed that consumer knowledge is a
vital factor in understanding consumer behavior such as information processing and information
search. Increment in the self-gained knowledge was associated with decrease in utilization
recommendations of sales people’s.
Chi HsinKuang (2002)in his paper titled “The Impact of Brand Awareness on Consumer Purchase
Intention” tries to explain the effects among brand loyalty brand awareness, perceived quality
and intention of customer purchase.
Kasper and Bloemer (1995)in his paper title “The complex relationship between consumer
satisfaction and brand loyalty.” intends to explain brand loyalty have six necessary factors which
are out of a set of such brands the comparison of comparing to one or more alternative brands;
and the non-random (that is biased);
Jacoby and Kyner (1973) in his paper title “Brand Loyalty” there are important differences in the
mid of recurrence behaviour of purchasing and loyalty towards brand. According to them, the set
of seven very essential as well as mutually satisfactory conditions can be defined as brand loyalty
Research Methodology
Sampling Method and Size of Sample
The sample size for the research is 104 and data was collected from random people. The data was
collected both offline and online. People from different economic background and occupational
background were approached. Data sources include majorly secondary data involving student
journals, research papers published in reputed journals across the world.

Pilot Study
The researchers took a sample of 34 respondents to help conduct the study. To have a broader
view we included people in our sample from different parts of Pune. The pilot study helped us to
combine our thought and come to a common consensus which helped us define our target
audience in order to reach our required solution. Our analysis of pilot study demonstrated that
80% of pilot consumers showed a great preference towards NEXA. Looks and Brand are the two
factors that affects the most while purchasing a NEXA (75%). Price and Quality are important
parameters for purchase preference for Luxury brand car (80%). Style is an important factor
influencing purchase decision for Luxury segment cars (76%).
Analysis of Data
Data collection tool-
Primary data will be collected through two ways:
1. Filling up of hard copies of questionnaires.
2. E-Surveys, such as Survey Monkey and Google Docs.
Secondary Data will be collected with the help of internet, journals, newspapers, magazines and
other academic resources.
Data analysis tool-

Data Analysis and Inference
1. Age Group of Respondents
Number of Respondents
Age Group
3
18 to 20
22
21 to 25
9
26 to 35
69
36 and Above
Table 1: Age Group (in years)
2. Gender of Respondents
Number of Respondents
Gender
72
Male
31
Female
Table 2: Gender of Respondents

3. Approximate Monthly Income (in INR).
Gender Number of Respondents
Male 72
Female 31
Table 3: Monthly Income (in INR)
4. Age Group Most Interested in Buying Premium Cars, According to Respondents.
Age Group Number of Respondents
18 to 24 4
25 to 34 34
35 to 44 39
Above 44 26
5. Aware of the Parent Group of NEXA.
Number of Responses
Aware of Parent Group of NEXA
59
Yes
43
No
6. Often Hear People Talking About NEXA.
Often Hear People Talk About NEXA Number of Responses
Not At All 33
Sometimes 59
Often 11
All the Time 0

7. Association of NEXA with Maruti Suzuki Leads to a Preference in Buying Decision.
Preference in Buying Decision Number of Responses
Never 13
Rarely 15
Sometimes 38
Often 28
Always 9
Table 4: Preference in Buying Decision
8. Factors That Influence Purchase Decision for Premium Segment Cars.
Factors Number of Responses
Style 53
Comfort 76
Mileage 33
Price 45
9. Level of Agreement for the Following:

10. Parameters That Help Build a Good Brand Image of NEXA.
11. Familiarity with NEXA in Accordance with the Following Factors:
12. Rate on the Basis of Luxury Brand on a Scale of 1 to 5.

Conclusion
 From the research it has been found that most of the respondents associate NEXA with its
parent brand- Maruti Suzuki. However, the parent brand does shed its good reliability on
NEXA.
 Respondents were aware of the premium characteristic of the brand NEXA but did not find
it to be as luxurious as other brands within its range, attributed by the fact that value
added services offered by NEXA were not as familiar to the respondents.
References
1. Chi Hsing Kuang. (2002). The impact of brand awareness on consumer purchase intention:The
mediating effect of perceived quality and brand loyaty..
2. Kaspar, Bloemer. (1995). The complex relationship between consumer satisfaction and brand
loyalty.
3. Makeover Time, Features, Metroplus, The Hindu, August 2, 2015.

http://www.thehindu.com/features/metroplus/maruti-suzuki-NEXA-
makeovertime/article7492055.ece.
4. We are looking at creating market disruption: R.S.Kalsi’, Business, Industry, The Hindu, July 5,
2015. http://www.thehindu.com/business/Industry/we-are-lookingat-creating-market-
disruption-says-maruti-suzuki-executive-director-marketingand-sales-rs-
kalsi/article7386945.ece.
5. Maruti Suzuki launches NEXA: A New Premium Automotive Experience’, Press Release,
Annexure – A, Corporates, BSE India, July 23 2015.
http://corporates.bseindia.com/xmldata/corpfiling/AttachLive/EEF0166A_5A75_49AB_AD
CE_73BD4218E556_12 3645.pdf
6. NEXA – A New Exclusive Automotive Experience’, Investors, Maruti Suzuki Background
Material NEXA for analysts, July 17, 2015. http://www.marutisuzuki.com/background-
material-NEXA-for-analysts.aspx.
7. Vineet Singh, Short Term Solvency Analysis of Lead Automobile Players in India. International
Journal of Advanced Research in Management, 6(3), 2015, pp. 11-17.

APPENDIX C: TURN-IT-IN REPORT

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See discussions, stats, and author profiles for this publication at: https://www.researchgate.

Brand Analysis of Nexa

Article · February 2017

ProdVal – production challenges! View project

The user has requested enhancement of the downloaded file.

Brand Analysis of Nexa

Key words: Automobile, Maruti Suzuki, NEXA, Marketing

International Journal of Research in Finance & Marketing

International Journal of Research in Finance & Marketing

Data analysis tool-

Table 1: Age Group (in years)

Table 2: Gender of Respondents

International Journal of Research in Finance & Marketing

3. Approximate Monthly Income (in INR).

Gender Number of Respondents

Table 3: Monthly Income (in INR)

4. Age Group Most Interested in Buying Premium Cars, According to Respondents.

Age Group Number of Respondents

5. Aware of the Parent Group of NEXA.

6. Often Hear People Talking About NEXA.

Often Hear People Talk About NEXA Number of Responses

All the Time 0

International Journal of Research in Finance & Marketing

7. Association of NEXA with Maruti Suzuki Leads to a Preference in Buying Decision.

Preference in Buying Decision Number of Responses

Table 4: Preference in Buying Decision

8. Factors That Influence Purchase Decision for Premium Segment Cars.

Factors Number of Responses

9. Level of Agreement for the Following:

International Journal of Research in Finance & Marketing

10. Parameters That Help Build a Good Brand Image of NEXA.

11. Familiarity with NEXA in Accordance with the Following Factors:

12. Rate on the Basis of Luxury Brand on a Scale of 1 to 5.

International Journal of Research in Finance & Marketing

3. Makeover Time, Features, Metroplus, The Hindu, August 2, 2015.

International Journal of Research in Finance & Marketing

APPENDIX C: TURN-IT-IN REPORT

International Journal of Research in Finance & Marketing

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