Customer Satisfaction at M/S Sindol Bajaj Bidar: © JUN 2021 - IRE Journals - Volume 4 Issue 12 - ISSN: 2456-8880
Customer Satisfaction at M/S Sindol Bajaj Bidar: © JUN 2021 - IRE Journals - Volume 4 Issue 12 - ISSN: 2456-8880
Customer Satisfaction at M/S Sindol Bajaj Bidar: © JUN 2021 - IRE Journals - Volume 4 Issue 12 - ISSN: 2456-8880
Abstract- This temporary role record is an after- supplied by a company meet or surpass customer
effect of the exploration that is carried solely from expectation.
the ace of business enterprise. During the four
semesters of the direction every understudy ought to Customer satisfaction is defined as “the number of
almost truly educate as a learner inside the customers, or percentage of total customers, whose
association to get halfway information and present a reported experience with a firm, its products, or its
comparable report to acquire these necessities services (ratings) exceeds specified satisfaction
concentrating the “M/s SINDOL BAJAJ BIDAR” goals.”
capacity of the association as a large component for
any affiliation to accomplish goals and makes a It is seen as a key performance indicator within
speciality of this calls regarding planning at all levels business and is often part of a balanced scorecard. In a
to guarantee the clear working of this document is to competitive marketplace where businesses compete
understand typically the BAJAJ AUTOMOBILES for customers, customer satisfaction is seen as a key
painting inside connection to diverse partitions. differentiator and increasingly has become a key
Bajaj Auto Ltd. Is probably the assembling and 3 element of business strategy.
Wheeler maker in India. The business is super for
building R and D, thing advancement, minimal “Within organizations, customer’s satisfaction ratings
attempt organising and fabricating strategies. The can have powerful effects. They focus employees on
business enterprise is the couple of biggest and 3 the importance of fulfilling customer’s expectations.
wheeled prices inside the state with prices Furthermore, when these ratings dip, they warn of
representing 18% of just about all out offers. The problems that can affect sales and profitability. These
corporation has two auxiliaries generally Bajaj Auto metrics quantify an important dynamic. When a brand
International Loge BV and PT Bajaj Indonesia. The has loyal customers, it gains positive word-of-mouth
organization come to be mounted on April 35, 2007 marketing, which is both free and highly effective.”
as it’s entirely possessed backup Bajaj Automobile
Ltd. (retaining employer) beneath the call of Bajaj Therefore, it is essential for businesses to effectively
Investment and Holding Limited. The employer was manage customer satisfaction. To be able do this,
offered its underlining enterprise testimony on, may firms need reliable and representative measures of
7, 2007. Typically, the parent employer works inside satisfaction.
portion, for instance, automobile, protection and
speculation, in addition to that is only typically the tip “In researching satisfaction, firms generally ask
of the Banquets’. Perceiving development openings customers whether their product or service has met or
inside the vitality, wind, vitality, and account areas, exceeded expectations. Thus, expectations are a key
the discern business enterprise erases those physical factor behind satisfaction. When customers have high
activities into 3 separate elements, each expectation and the reality falls short, they will be
concentrating on middle enterprise and attractive disappointed and will likely rate their experience as
talents. less then satisfying.”
1.1 INDUSTRY PROFILE automobile industry saw a drastic fall in demand. This
resulted in the decline of 15% in 1991 and 8% 1992,
India is the second largest producer and manufacturer resulting production loss of 0.4mn vehicles. Barring
of two-wheelers in the world. It stands next only to Hero Honda, all the major producers suffered from
Japan and China in terms of the number of two- recession in FY93 and FY94. Hero Honda showed a
wheelers produced and domestic sales respectively. marginal decline in 1992. The reasons for recession in
Indian two-wheeler industry has got spectacular the sector were the incessant rise in fuel prices, high
growth in the last few years. Indian two-wheeler input costs and reduced purchasing power due to
industry had a small beginning in the early 50’s. The significant rise in general price level and credit crunch
Automobile products of India (API) started in consumer financing. Factors like increased
manufacturing scooters in the country. production in 1992, due to new entrants coupled with
the recession in the industry resulted in company
Bikes are a major segment of Indian two-wheeler either reporting losses or a fall in profits. key players
industry, the other two being scooters and mopeds. in the Two-wheeler industry.
Indian companies are among the largest two-wheeler
manufactures in the world. There are many two-wheelers manufactures in India.
Major players in the 2-wheeler industry are Hero
In the initial stages, the scooter segment was Honda Motors Ltd (HHML), Bajaj Auto Ltd (Bajaj
dominated by API; it was later overtaken by Bajaj Auto) and TVS Motor Company Ltd (TVS).
Auto. Although various government and private
enterprises entered the fray for scooters, the only new The other key players in the two-wheeler industry are
player that has lasted till today is LML. The Kinetic Motor Company Ltd (KMCL), Kinetic
motorcycle segment was initially dominated by Engineering Ltd (KEL), LML Ltd (LML), and
Enfield 350cc bikes and Escorts 175cc bike. Yamaha Motors India (Yamaha), Majestic Auto Ltd
(Majestic Auto), Royal Enfield Ltd (REL) and Honda
The two-wheeler market was opened to foreign Motorcycle & Scooter India (P) Ltd (HMSI).
competition in the mid-80s. And the then market
leaders – Escorts and Enfield – were caught unaware • Evolution of two-wheeler in India: -
by the onslaught of the 100cc bikes of the four Indo- Two-wheeler segment is one the most important
Japanese joint ventures. With the availability of fuel- components of the automobile sector that has
efficient low power bikes, demand swelled, resulting undergone significant change due to shift in policy
in Hero Honda – then the only producer of four stroke environment. The two-wheeler industry has been in
bikes (100cc category), gaining a top slot. The first existence in the country since 1955. It consists of three
Japanese motorcycles were introduced in the early segments viz. scooters, motorcycles and mopeds.
eighties. TVS Suzuki and Hero Honda brought in the According to the figures published by SIAM, the share
first two-stroke engine motorcycles respectively. of two-wheelers in automobile sector in terms of units
These two players initially started with assembly of sold was about 80 per cent during 2003-04. This high
CKD kits, and later on progressed to indigenous figure itself is suggestive of the importance of the
manufacturing. In the 90s the major growth for sector. In the initial years, entry of firms, capacity
motorcycle segment was brought in by Japanese expansion, choice of products including capacity mix
motorcycles, which grew at a rate of nearly 25% and technology, all critical areas of functioning of an
CAGR in the last five years. industry, were effectively controlled by the State
machinery. The lapses in the system had invited fresh
The industry had a smooth ride in the 50s, 60s and 70s policy options that came into being in late sixties.
when the Government prohibited new entries and Amongst these policies, monopolies and Restrictive
strictly controlled capacity expansion. The industry Trade Practices (MRTP) and foreign Exchange
saw a sudden growth in the 80s. The industry Regulation Act (FERA) were aimed at regulating
witnessed a steady growth of 14% leading to a peak monopoly and foreign investment respectively. This
volume of 1.9mn vehicles in 1990. In 1990, the entire controlling mechanism over the industry resulted in: -
(a)Several firms operating below minimum scale of Automobile Export Promotion Council would be of
efficiency; (B)Underutilisation of capacity; and (C) great help for further surge in demand for the Indian
usage of outdated technology. Recognition of the two-wheeler industry.
damaging effects of licensing and fettering policies led
to initiation of reforms, which ultimately took a more National council of Applied Economic Research
prominent shape with the introduction of the New (NCAER) has forecast two-wheeler demand during
Economic Policy (NEP) in 1985. the period 2002-03 through 2011-12. The forecast had
been made using econometric technique along with
However, the major set of reforms was launched in the inputs obtained from a primary survey conducted at 14
year 1991 in response to the major macroeconomics prime cities in the country. Estimations were based on
crisis faced by the economy. The industrial policies Panel Regression, which takes into account both time
shifted from a regime of regulation and tight control to series and section variation in data. A panel data of 16
a more liberalised and competitive era. Two major major states over period of 5 years ending 1999 was
results of policy changes during these years in two- used for the estimation of parameters. The models
wheeler industry were that the, weaker player died out considered a large number of macro-economics,
giving way to the new entrants and superior products demographic and socio-economic variables to arrive at
and a sizable increase in number of brands entered the the best estimations for different two-wheeler
market that compelled the firms to compete on the segment. The projections have been made at all India
basis of product attributes. Finally, the two-wheeler and regional levels. Different scenarios have been
industry in the country has been able to witness a presented based on different assumption regarding the
proliferation of brands with introduction of new demand drivers of the two-wheeler industry. The most
technology as well as increase in number of players. likely scenario assumed annual growth rate of Gross
However, with various policy measures undertaken in Domestic Product (GDP) to be 5.5 percent during
order to increase the competition, though the degree of 2002-03 and was anticipated to increase gradually to
concentration has been lessened over time, 6.5 percent during 2011-12.
deregulation of the industry has not really resulted in
higher level of competition. 1.2 COMPANY PROFILE
There is large untapped market in semi-urban and rural Bajaj Auto Ltd. (BAL) any of the two and three
areas of the country. Any strategic planning for the assembling producers in India. The employer is known
two-wheeler industry needs to identify this market for its L and D item development and assembling
with the help of available statistical techniques. capabilities. The particular agency is the biggest
Potential market can be identified as well as prioritised exporter of and 3 wheels inside the empire. The
using these techniques with the help of secondary data employer has two backups to be particular Bajaj Auto
on socio-economic parameters. For the two-wheeler International Cooperation BV and PT Bajaj Indonesia.
industry, it is also important to identify the target
groups for various categories of motorcycles and On November twenty nine, 1945 Bajaj Auto arrived
scooters. With the formal introduction of second-hand for the sake of M/s Bacha raj Investing Corporation
car market by the reputed car manufactures and easy Private Limited. Within 1948 Bajaj Auto started out to
loan availability for new as well as used cars, the two- promote and 3 wheels imported in India. In the 50s
wheeler industry needs to upgrade its market Bajaj Auto gained allow from the Government of India
information system to capture the new market and to to make two wheels. In 1960 Bajaj Auto became an
maintain its already existing markets. Availability of open up corporation.
easy credit for two-wheeler in rural and smaller urban
areas also requires more focussed attention. It is also In 1971 Bajaj Auto propelled a three-wheeler
imperative to initiate measures to make the presence administrator. In 1977 the organization propelled a
of Indian two-wheelers industry felt in the global Back Engine Auto Rickshaw. Within nineteenth 1984,
market. Adequate incentives for promoting exports the organization stone became made for the brand-new
and setting up of institutional mechanism such as Bajaj Auto processing plant at WALUJ Aurangabad.
November 5, 1985 Bajaj Auto began technology on enterprise began Pulsar 220F pulsar a hundred and
the WALUJ plant. In 1988 Bajaj Auto started eighty UG Pulsar one hundred thirty-five LS and
generation at the Chakan Pune Grow. In November looked via DTS- Si available. In 2010-11 the business
2001, Bajaj Auto propelled the beautiful bicycle enterprise created two and three Wheelers engine
‘Pulsar’. generation restrict by way of 780000 Nos to 5040000
Nos. The organization offers the Avenger 220 DTS-I
In Feb 2003 Bajaj Auto powered a hundred and fifteen KTM DUKE a hundred twenty-five found 150 and one
Calibres within the traditional engine fragment. hundred twenty-five in the market. The enterprise
Because based on the Arrangement of Demerger intends to maintain up and 3 wheelers restriction at the
scheme Bajaj Holdings and Investment Ltd. (BAL existing diploma of 5040000 number every year
BHAL erode) is assessed into 3 assignments with before the finish of March31, 2012. The significance
impact form a hit day of Viz. February 20, 2008. The of 4-wheel car development in progress and the
protecting company works in fragments, for instance, primary business dispatch of the platform is booked
safety and different car and project. for in 2012 Bajaj Auto is tied with Kawasaki Japan at
Indonesia.
Perceiving the improvement openings inside the safety
and budgetary a part of power sparing breeze vitality II. THEORETICAL BACKGROUND OF THE
organization made those physical games be three STUDY
separate factors that each can deal with middle
enterprise and engage fitness. Consequently, claims Customer satisfaction occurs when the data obtain
the figure enterprise with all blessings and liabilities from business match belief. Customer may not
included into the hobby in PT Bajaj Auto Indonesia remember experience the game expectation even
and in a few merchants, businesses are moved to Bajaj though, customer will frequently notice and keep in
Investment and Holding Ltd (BHIL). Moreover, a sum mind those that deviated from intimation. This stage is
of Rs.15000 million in real cash and money mainly known as disappointment results in to a feeling
reciprocals are likewise moved to Investment and of clash in cash where an experience obtains from
Holding Ltd. As major elements of the Bajaj Holdings product logic falls short of expectation.
and Investment Ltd plan changed to Bajaj Auto Ltd
(BAL). The rule date might be close on March 31, In literature antecedents of satisfaction are studied
2007. from different aspects. The considerations extend from
psychological to physical and from normative to
On April nine, 2007, the organization got a take care positive aspects. However, in most of the cases the
of the inexperienced plant processing plant in consideration is focused on two basic constructs as
Uttarakhand. In the primary 12 months of plant customer’s expectations prior to purchase or use of a
activity, it created 275000 motors. The gathering plant product and his relative perception of the performance
business enterprise in Akurdi closes on account that of that product after using it.
September 3, 2007 because of better era prices. In
November 2007, Bajaj Auto International Holdings A customer’s expectations about a product tell us how
BV gained a 14. Fifty-one % stake in KTM Power he or she anticipated how that product will perform.
Sports activities automobile manufacturer in Europe As it is suggested in the literature, consumers may
for Rs.345 Crore. have various “Types” of expectation when forming
opinions about a product’s anticipated performance.
During 2007-08 the business propelled the XCD one Ex: Four types of expectations are identified by Miller,
hundred twenty-five DTS-Si and the entice of the (1977): Ideal, expected, minimum tolerable, and
Direct Injected auto tricycle. Chakan commercial desirable. While, Day (1977): Indicated among
facility finishes aggregate introduction of more than 2 expectations, the ones that are about the costs, the
million Pulsar. In 2009-10, the corporate extended its product nature, and the efforts in obtaining benefits
introduction restriction of Motorized Two and three and lastly expectations of social values. Perceived
Wheelers via 300000 Nos to 4260000 Nos. The product performance is considered as an important
construct due to its ability to allow making and services that they use and they are making
comparisons with the expectations. decisions differently than in years gone by. Today,
customer experience (CX) is a deciding factor.
It is considered that customer judge product on a Expectations are high and CX effectiveness easily
limited set of norms and attributes. Olshavsky and makes or breaks the purchase decision.
miller (1972) and Olson and Dover (1976) designed
their researches as to manipulate actual product III. RESEARCH DESIGN
performance, and their aim was to find out how
perceived performance ratings were influenced by 3.1 STATEMENT OF THE PROBLEM
expectations. To know customer satisfaction towards Bajaj Two-
Wheeler Bikes.
“These Studies took out the discussions about
explaining the differences between expectations and Consequently, the administration has wanted to lead
perceived performance.” “A project report on customer satisfaction towards
Bajaj Two-Wheeler Bike, Bidar.
In some research studies, scholars have been able to
establish that customer satisfaction has a strong 3.2 NEED FOR THE STUDY
emotional, i.e., affective, component. Still others show This research is done to know the Mind-Set of the
that the cognitive and affective components of customer, with the help of which the organization will
customer satisfaction reciprocally influence each other become alert of their pitfalls or Drawbacks and in turn
over time to determine overall satisfaction. also make improvements in the product about the level
of satisfaction of the customer towards their offerings
Especially for durable goods that are consumed over in the marketplace.
time, there is value to taking a dynamic perspective on
customer satisfaction. Within a dynamic perspective, 3.3 OBJECTIVES OF THE STUDY
customer satisfaction can evolve over time as • To understand the customer satisfaction level
customers repeatedly use a product or interact with a toward features and services offered by Bajaj Auto.
service. The satisfaction experienced with each Ltd.
interaction (transactional satisfaction) can Influence • To know about services which are provided by the
the overall, cumulative satisfaction. Scholars showed company.
that it is not just overall customer satisfaction, but also • To gain inputs form customers to improve
customer loyalty that evolves over time. satisfaction.
• To study and understand the areas which are need
2.1 LITERATURE REVIEW WITH RESEARCH to be improved.
GAP • To know company objectives about feature
Vavra, T.G. (1997): Satisfaction has been generally modification in Bajaj motor.
defined as “A satisfaction post-purchase involvement • To know opinion about price of Bajaj Motor Cycle.
with a product or services given existing buying
• To Discover an elements impact client to obtain
expectations. Bajaj motors.
• To find out customers are more like to occasional
Terry Grapentine (2019): Satisfaction is an ambiguous Discount/Free gift offered by Bajaj Motor.
concept; the marketing literature does not offer a
uniform definition of the satisfaction concept; 3.4 SCOPE OF THE STUDY
satisfaction can be emotion; satisfaction can be The study helps in findings out the level of customer
cognition; and how to approach the satisfaction satisfaction of Bajaj Auto Ltd. Customers. The scope
concept in applied research. is confirmed only to examine the “Customer
satisfaction” with reference to Bajaj Bikes” and to find
Zoe Dowling (2020): Customer experience matters. possible remedies to contract and neutralize their
People are inundated with choices for every product
Friends / INTERPRATATION:
26 52
Relatives From the above graph is showing that 88% of people
Social media 6 12 visited the Sindol Bajaj Showroom and 12% people
Internet 0 0 not visited.
Magazine 0 0
4.3 WHICH BIKE DO YOU LIKE IN THE BAJAJ?
Others 4 8
No. of
Total 50 100 Scale Percentage
respondent
Pulsar 33 66
CT100 8 16
Platina 4 8
Discover 5 10
Other 0 0
Total 50 100
INTERPRATION:
From the above graph it is showing that 28%
customers are know the name of Bajaj through
Advertisement, 52% from Friends / Relatives, 12%
from Social media, 0% from Internet, 0% from
Magazine, and 8% from Others.
No. of
Scale Percentage
respondent
Motivate 26 52
Informative 18 36
Makes no
6 12
difference
Total 50 100
INTERPRATATION:
From the above graph it is showing that which factor
affecting the customers to make a purchase decision in
that 32% price effects the customers, 32% Brand
Image, 20% mileage, 14% Power and the 2% style.
No 36 72
Total 50 100
INTERPRATATION:
From the above graph it is showing that the 16%
customers like to develop Engine, 10% Suspension,
22% Tyre, 18% mileage, 22% Discs and the 12% Seats INTERPRATATION:
in the Bajaj motor cycle to make it as the best. From the above graph is showing that if the company
offers any exchange mela, 28% of Customers
4.8 ARE THE SPARE PARTRS AVALIABLE AT interested to go for new one but 72% customers not
THE SERVICE CENTRE, WHERE YOU interested go for new one.
DEAL WITH?
No. of 4.10 DID YOU LIKE OUR SERVICES? IF YES,
Scale Percentage
respondent WHAT WAS THE EXPERIENCE?
Yes 45 90 No. of
Scale Percentage
No 5 10 respondent
Total 50 100 Excellent 13 26
Good 28 56
Average 9 18
Poor 0 0
Total 50 100
INTERPRATATION:
From the above graph is showing that the 90%
customers say that Spare parts available at the service
centre and 10% customers say not available.
INTERPRATATION:
4.9 IF THE COMPANY OFFERS ANY From the above graph showing that the 26% is
EXCHANGE MELA, WILL YOU GO FOR A NEW Excellent, 56% is Good, 18% is Average and 0% is
ONE? poor Service of Bajaj in according to customers’
No. of experience.
Scale Percentage
respondent
Yes 14 28