INTRODUCTION TO THE STUDY

TVS Motor Company, the third largest two wheeler manufacturer in India is a part of TVS Group and is engaged in the business of two wheelers, automobile component manufacturing and retailing of various brands in India. The company manufacturers an entire range of two-wheelers including motorcycles, scooters and mopeds, offering a complete portfolio from the entry level right up to the premium segment. The company also has product offerings for the three-wheeler industry. In this present day market, Branding is inevitable and it plays an important role in the demand creation. A large number of products exist in the market merely because of brand names. Brand image is the impression left in the minds of the prospect by the brand. Hence companies are striving to meet the customers requirements so as to acquire a position in the market. The company should concentrate in many attributes to create and maintaining the brand image. Thus every organization big or small needs to have brand image and create a differentiation from other products. The complexities of modern industrialization and technological changes have very much increased the need for positioning the brand. It fosters companies self development versatility. Thus brand image plays a vital role in updating new technologies to compete and move further in ever changing world. The Study is focused on Brand Image of TVS Motors at ROYAL TVS bring in insight as to how brand Image is being created in the mind set of customers & also checks whether existing image is good enough to face competition. It showcases how brand image could stem from company driven image, product driven image & user driven image and this helped to give suitable suggestions to the company for its improvement.

INDUSTRY PROFILE

Automobile Industry

A well developed transport network indicates a well developed economy. For rapid development a well-developed and well-knit transportation system is essential. As India's transport network is developing at a fast pace, Indian Automobile Industry is growing too. Also, the Automobile industry has strong backward and forward linkages and hence provides employment to a large section of the population. Thus the role of Automobile Industry cannot be overlooked in Indian Economy. All kinds of vehicles are produced by the Automobile Industry. India Automobile Industry includes the manufacture of trucks, buses, passenger cars, defense vehicles, two-wheelers, etc. The industry can be broadly divided into the car manufacturing , two-wheeler manufacturing and heavy vehicle manufacturing units. The major Car manufacturer are Hindustan Motors, Maruti Udyog, Fiat India Private Ltd., Ford India Ltd ., General Motors India Pvt. Ltd., Honda Siel Cars India Ltd.,Hyundai Motors India Ltd., Skoda India Private Ltd., Toyota Kirloskar Motor Ltd., to name a few. The two-wheeler manufacturing is dominated by companies like TVS, Honda Motorcycle & Scooter India (Pvt.) Ltd., Hero Motor Corp, Yamaha, Bajaj, etc. The heavy motors like buses, trucks, defense vehicles, auto rickshaws and other multi-utility vehicles are manufactured by Tata-Telco, Ashok Leyland, Eicher Motors, Bajaj, Mahindra and Mahindra, etc Motorcycle history begins in the second half of the 19th century. Motorcycles are descended from the "safety bicycle," a bicycle with front and rear wheels of the same size and a pedal crank mechanism to drive the rear wheel. Despite some early landmarks in its development, motorcycles lack a rigid pedigree that can be traced back to a single idea or machine. Instead, the idea seems to have occurred to numerous engineers and inventors around Europe at around the same time. In developing world there is a large demand for small, cheap motorcycles in the developing world, and many of the firms meeting that demand now also compete in mature markets.

A motorcycle (also called a motorbike, bike, motorcycle) is a two or three wheeled motor. Motorcycles vary considerably depending on the task they are designed for, such as long distance travel, navigating congested urban traffic, cruising, sport and racing, or off-road conditions Motorcycles are one of the most affordable forms of motorized transport in many parts of the world and, for most of the world's population, they are also the most common type of motor vehicle. There are around 200 million motorcycles (including mopeds, motor scooters, motorised bicycles, and other powered two and three-wheelers) in use worldwide, or about 33 motorcycles per 1000 people. This compares to around 590 million cars, or about 91 per 1000 people. Most of the motorcycles, 58%, are in the developing countries of Asia Southern and Eastern Asia, and the Asia Pacific countries, excluding Japan while 33% of the cars (195 million) are concentrated in the United States and Japan. In 2006, China had 54 million motorcycles in use and an annual production of 22 million units. As of 2002, India, with an estimated 37 million motorcycles/mopeds, was home to the largest number of motorised two wheelers in the world. China came a close second with 34 million motorcycles/mopeds.

The Indian two-wheeler (2W) industry has shown a strong volume growth over the last two-years, having grown by 25% in 2009-10 and 27% in 2010-11 to reach 13.3 million units. This strong double-digit growth has been driven by multiple factors. One reason, of course, is statistical as this period of high double-digit growth has showed up after a rather sedate previous two years, when the 2W industry volumes had shrunk by 5% in 2007-08 and had grown by a mere 5% in 2008-09. In addition to the contribution of pent-up demand, the 2W industry growth over the last two years has been supported strongly by various underlying factors including Indias rising per capita GDP, increasing rural demand, growing urbanization, swelling replacement demand, increasing proportion of cash sales and the less measurable metric of improved consumer sentiment. ICRA expects the 2W industry to report a volume CAGR of 10-12% over the next five years to reach a size of 21-23 million units by 2015-16 as it views the fundamental growth drivers - comprising of expected steady GDP growth, moderate 2W penetration levels, favourable demographic profile, under developed public transport system and utility quotient of a 2W - to be intact. Additionally, the entry of new players in the industry, 3

multitude of new model/ variant launches, growing distribution reach, cheaper ownership costs on a relative basis are expected to be some of the other prime movers for industry growth over the medium term. In ICRAs view, while the trend in rising commodity prices, hardening interest rates and increasing fuel costs may lead to some moderation in industry growth over the short term, the growth over the medium to long term is expected to remain in double digits.

The two-wheeler automobile industry is continuously striving for synergy between technology and systems to provide products and services that meets the quality, performance and price aspirations of the Indian buyers, as the demand for a more fuel efficient and look-wise appealing two-wheelers, which can also provide a comfortable drives on the rise. The Indian two-wheeler (2W) industry recorded sales volumes of 3.4 million units in Q3, 201112, a growth of 11.0% (YoY) but flat (QoQ). Although the YoY volume growth of the industry remained in double digits, the pace of growth during the last quarter was at its lowest gear in the last three years. The deceleration in growth was contributed mainly by the motorcycles segment which grew at a much lower rate of 9.2% (YoY) in Q3, 2011-12; even as the scooters segment continued to post 20%+ (YoY) expansion. Overall, ICRA expects the domestic 2W industry to report a volume growth of 13% in 2011-12 as we expect growth to fade further in Q4, 2011-12 due to base effect. In an environment where the northward movement of inflation, fuel prices and interest rates has been the nemesis of the Indian automobile industry at large, the 2W industry has been the most resilient reflected in its healthy volume growth of 15.0% (YoY) in 9m, 2011-12. The growth has been supported by various structural positives associated with the domestic 2W industry including favorable demographic profile, moderate 2W penetration levels (in relation to several other emerging markets), under developed public transport system, growing urbanization and expected strong replacement demand, besides moderate share of financed purchases. ICRA expects these strengths, coupled with the OEMs thrust on exports, to aid the 2W industry to report a volume CAGR of 10-12% over the medium term to reach a size of 21-23 million units (domestic + exports) by 2015-16.

Market Share Trends The Indian motorcycles segment continues to be dominated by Hero Moto Corp which has maintained its market share at over 55% in the domestic motorcycles segment over the last five quarters (Refer Chart 1). The top three players accounted for 89.5% of the industrys volumes in Q3, 2011-12 (92.0% in 2007-08), with Honda Motorcycles reclaiming its spot as the third largest player, a position which it had lost out to TVS Motors in the previous quarter after having retained it since Q4, 2009-10. In the 75-125cc segment of motorcycles (that represented 71% of total motorcycles sales volumes in 9m, 2011-12), Hero Moto Corp continues to be a strong market leader with a share of 74.2% in 9m, 2011-12 (70.4% in 9m, 2010-11). In the >125cc segment of motorcycles, while Bajaj Auto continues to account for nearly half the segments volumes (49.1% in 9m, 2011-12), Yamaha has been the fastest growing having improved its market share from 8.1% in 9m, 2010-11 to 10.1% in 9m, 2011-12.

Chart :1 Trend in Market Share in Motorcycles Segment (Domestic)

100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Q1 2010- Q2 2010- Q3 2010- Q4 2010- Q1 2011- Q2 2011- Q3 201111 11 11 11 12 12 12 54 52.9 55.5 55.9 56.5 55 56.2

3.6 8.2 7.3 27

4.2 7.3 7.1 28.5

4.9 7.1 6.9 25.6

4.4 6.8 6.8 26.1

4.6 7.3 6.3 25.3

4.9 6-Jan 6.8 26.8

4.9 8.1 5.6 25.1 others honda tvs bajaj hero

Source: SIAM, ICRAs Estimates

MARKET CHARACTERISTICS OF TWO WHEELERS The three main product segments in the two-wheeler category are scooters, motorcycles and mopeds. However, in response to evolving demographics and various other factors, other sub segments emerged, viz. scooters, gearless scooters, and 4-stroke scooters. While the first two emerged as a response to demographic changes, the introduction of 4-stroke scooters has followed the imposition of stringent pollution control norms in the early 2000. Besides, these prominent sub-segments, product groups within these sub-segments have gained importance in the recent years. The Indian two-wheeler industry has undergone a significant change over the past 20 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 segment in terms of market share for the first time in FY1999. Between FY1996 and 9MFY2005, 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 FY2001, 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 country's demographic profile, and technological advancements. Over the past 10-15 years the demographic profile of the typical twowheeler customer has changed. The customer is likely to be salaried and in the first job. With a younger audience, the attributes that are sought of a two-wheeler have also changed. Following the opening up of the economy and the increasing exposure levels of this new target audience, power and styling are now as important as comfort and utility. The marketing pitch of scooters has typically emphasized reliability, price, comfort and utility across various applications. Motorcycles, on the other hand, have been traditionally positioned as vehicles of power and style, which are rugged and more durable. These features have now been complemented by the availability of new designs and technological innovations. Moreover, higher mileage offered by the executive and entry-level 6

models has also attracted interest of two-wheeler customer. Given this market positioning of scooters and motorcycles, it is not surprising that the new set of customers has preferred motorcycles to scooters. With better ground clearance, larger wheels and better suspension offered by motorcycles, they are well positioned to capture the rising demand in rural areas where these characteristics matter most. Scooters are perceived to be family vehicles, which offer more functional value such as broader seat, bigger storage space and easier ride. However, with the second-hand car market developing, a preference for used cars to new two-wheelers among vehicle buyers cannot be ruled out. Nevertheless, the past few years have witnessed a shift in preference towards gearless scooters (that are popular among women) within the scooters segment. Motorcycles, offer higher fuel efficiency, greater acceleration and more environmentfriendliness. Given the declining difference in prices of scooters and motorcycles in the past few years, the preference has shifted towards motorcycles. Besides a change in demographic profile, technology and reduction in the price difference between motorcycles and scooters, another factor that has weighed in favour of motorcycles is the high re-sale value they offer. Thus, the customer is willing to pay an up-front premium while purchasing a motorcycle in exchange for lower maintenance and a relatively higher resale value.

Two Wheeler Manufacturers In India

Hero Moto corp Bajaj Auto TVS Motors Honda Mahindra Yamaha Suzuki

The two wheeler segment has played an important role in giving a push to the automobile industry in India. In fact, the production, sales and exports of the two wheelers is a fair indication of the growing importance that it enjoys in this country's manufacturing economy. An overview of the two wheeler industry makes this clear that the two wheelers are among the most sought after automobiles in India for some time and the trend is likely to stay for a while. The economic growth, need for better conveyance and gradually improving road infrastructure coupled with better credit and financing options, have acted as a major catalyst in encouraging the growth and development of the two wheeler segment in India. Further, the new and improved features on the two wheelers, their stylish and trendy looks and a rage with the country's youth who form a substantial influence in determining the consumer behavior have ensured that the two wheelers remain on top of the automobile industry's agenda in India. Some of the features that deserve attention in respect of the Indian two wheeler segment are as mentioned:

The total sale of two wheelers in India has touched a figure of 7.86 million units by March, 2007, up 11.42% from the previous fiscal figures of 7.05 million. Production during the period reached 8.63 million units.

The production of two wheelers in India is expected to reach a staggering 17.85 The two-wheeler production capacity is to reach 22.31 million units in 2011-12 compared with 10.78 million in 2006-07.

India is likely to export 1.39 million two-wheelers in 2011-12 compared with 590,000 in 2006-07.

Total investment for new capacity generation in two-wheeler segment is likely to be more than $2.2 billion (INR10, 000 crore).

Hero Honda, Bajaj Auto and TVS Motor remain the leading players in terms of sales and popularity of their two wheeler

CORPORATE PROFILE

TVS Motor India

TVS Motor Company, the third largest two wheeler manufacturer in India is a part of TVS Group and is engaged in the business of two wheelers, automobile component manufacturing and retailing of various brands in India. The company manufacturers an entire range of two-wheelers including motorcycles, scooters and mopeds, offering a complete portfolio from the entry level right up to the premium segment. The company also has product offerings for the three-wheeler industry. The product portfolio of the companys motorcycle segment comprises of the TVS Star, TVS Flame and TVS Apache series, while scooters include the latest addition, TVS Scooty Streak, TVS Scooty Pep series and TVS Scooty TeenZ Eelctric. Mopeds, namely the XL Super series, complete the segment , the company this having a product offering in each segment of the motorcycle industry. TVS Motor Company has also entered the three-wheeler market with the TVS King, Indias first two stroke 200 cc autorickshaw that will come with an electric start, launched in Petrol, LPG and CNG versions. TVS Motor Company has manufacturing plants that conform to world-class quality standards at Hosur (near Bangalore), Mysore & Himachal Pradesh. As part of its global operations, TVS Motor Company has setup a manufacturing facility in Indonesia, which caters specifically to Indonesian and other ASEAN markets.

TVS Motor Company has international presence in more than 50 countries in Asian, African and Latin American Continents and will enter more international markets during the course of the year. In India, the company functions through a strong sales and service network consisting over 490 authorised main dealerships, over 1800 authorised service centers and other certified service points. The company is committed to achieving total customer satisfaction through excellence in Total Quality Management (TQM) and continuously strives to give the customer best value for money, across all its products. The Deming Award from JUSE, which the company won, is proof of its commitment to achieve total customer satisfaction through excellence in Total Quality 9

Management. The companys high quality R&D talent pool, comprising of over 400 engineers, employed in new product development and advanced engineering, is backed by one of the most modern computer aided labs.

Logo

Brand Ambassador

TVS Motor Company has signed on one of Indias brightest and most promising cricketing talents, Virat Kohli, as brand ambassador for its all new TVS Sport motorcycle. Kohli will feature on all advertising and retail material related to TVS Sport,

Brand Slogan We love to see your smile

10

COMPANY PROFILE Royal TVS is an authorized Dealer certified by TVS Motor India Ltd. for Palakkad District, Kerala. The Partnership firm started its operations in April - 1998 and has been selling approx. 8400 Two wheelers per year. They have been highly appreciated for our service and customer care by our customers and have won many accolades from our Principals. They are committed to achieving total customer satisfaction by providing quality service and a completely fulfilling experience to all our customers. They ensure that our products are environmentally friendly in a variety of ways.

Services

Royal TVS workshop is equipped with diagnostic tools to enable us to give you the very best service and repair facilities. They have skilled and experienced personnel who are able to give advice on a large range of technical problems that you may be experiencing with your vehicle. Royal TVS have fully equipped workshop with all state of the art equipment for cost effective testing and repairing of your vehicle to the highest safety standards.

11

PRODUCT PROFILE

ROYAL TVS

wego Star City

Star Sports

Apache RTR

FLAME

Scooty pep+

Scooty Streak

12

TVS STAR CITY TVS Star City has been gifted with bold and beautiful front mask, it has body colour side panels that houses halogen type clear headlamp. The mask has got aerodynamic black tinted wind screen; front turn indicator are placed just either sides of the hood. TVS Star City has black colour rear view mirrors mounted on handlebars.

TECHNICAL SPECIFICATIONS DISPLACEMENT: ENGINE: MAXIMUM POWER: MAXIMUM TORQUE: 109.7cc 109.7cc, OHC 8.2 Bhp @ 7500 rpm 8.1 Nm @ 5000 rpm

13

GEARS: CLUTCH: NO. OF CYLINDERS: CYLINDER CONFIGURATION: ENGINE BLOCK MATERIAL: CHASSIS TYPE: COOLING TYPE: CARBURETOR:

4 Speed Wet, Multi plate 1 NA NA Single Cradle Tubular Air Cooling NA

DIMENSIONS LENGTH: 2005.00 MM

OTHER SPECIFICATIONS WEIGHT: GROUND CLEARANCE: FUEL TANK: WHEELBASE: HEADLAMP: WHEEL TYPE: 115.00 KG 165.00 MM 16.00 LTRS 1240.00 MM 12V, 35W/35W ALLOYS

14

TVS WEGO The wego comes equipped with the tough mechanic shell that gives it a rigged look, that doubles up as a shell to provide added stability and toughness to your ride.It is also the India's first scooter have the body balance.It keeps the bike stable and the center of gravity in front of bike.

TECHNICAL SPECIFICATIONS ENGINE TYPE 4-stroke, single cylinder,air cooled,OHC DISPLACEMENT MAX.POWER 109.7ccc 8ps@7500rpm

15

TRANSMISSION

V-MATIC

ELECTRICALS BATTERY HEAD LAMP TAIL LAMP 12V,5Ah 12v 35w/35w Halogen 12v LED lamp with optical guide

CHASIS FRAME DIMENTIONS WHEEL BASE GROUND CLEARENCE High rigidity under bone type 1834*640*1115mm 1275mm 145mm

SUSPENSION FRONT REAR In-lineTelescopic suspension Unit swing with spring loaded hydraulic damper

16

BRAKES FRONT REAR Drum,130 mm dia Drum,130 mm dia

FUEL TANK CAPACITY 5 liters

17

TVS STAR SPORTS CVTI engine offers great advantage of Longevity and mileage. The five spoke alloy wheels makes it looks even better. Electric start option for instant start and go.

TECHNICAL SPECIFICATIONS ENGINE TYPE DISPLACEMENT MAX.POWER TRANSMISSION IGNITION 4-stroke 99.7ccc
50.50KW@7500RPM

4 SPEED CONSTANT MESH AC/DIGITAL CDI

18

ELECTRICALS BATTERY HEAD LAMP TAIL LAMP 12V,35/35W 12v 21/5W 12v LED lamp with optical guide

CHASIS FRAME DIMENTIONS WHEEL BASE 1834*640*1115mm 1250MM

SUSPENSION FRONT REAR Telescopic suspension Hydraulic fork With 5 stage Adjustable shokers

BRAKES AND WHEEL FRONT 2.75*17

19

REAR

3.00*17

FUEL TANK CAPACITY RESERVE 12 liters 2 liters

TVS SCOOTY STREAK Make heads turn. Break a few hearts. The scooty streak's stylish LED lamps makes it the only scooter in the country to sport these beauties. It has a four stroked single cylinder forced aircooled engine with a maximum power of 3.68kw

20

TECHNICAL SPECIFICATIONS ENGINE AND TRANSMISSION

DISPLACEMENT:

87.80 ccm (5.36 cubic inches) Single cylinder, four-stroke 4.93 HP (3.6 kW)) @ 6500 RPM 5.80 Nm (0.6 kgf-m or 4.3 ft.lbs) @ 4000 RPM 51.0 x 43.0 mm (2.0 x 1.7 inches) Carburettor Air

ENGINE TYPE: POWER:

TORQUE: BORE X STROKE:

FUEL SYSTEM: COOLING SYSTEM: GEARBOX: TRANSMISSION TYPE, FINAL DRIVE: CLUTCH: DRIVELINE:

Automatic Belt

Pivoted Clutch Centrifugally Operated Automatic CVT with torque sensor CHASSIS, SUSPENSION, BRAKES AND WHEELS

FRONT TYRE DIMENSIONS: REAR TYRE DIMENSIONS: FRONT BRAKES: FRONT BRAKES

90/90-10

90/90-10

Expanding brake (drum brake) 110 mm (4.3 inches) 21

DIAMETER: REAR BRAKES: REAR BRAKES DIAMETER: PHYSICAL MEASURES AND CAPACITIES WEIGHT INCL. OIL, GAS, ETC: GROUND CLEARANCE:
WHEELBASE:

Expanding brake (drum brake) 110 mm (4.3 inches)

96.0 kg (211.6 pounds)

135 mm (5.3 inches)

1,230 mm (48.4 inches)

FUEL CAPACITY: 4.70 litres (1.24 gallons) RESERVE FUEL CAPACITY: OTHER SPECIFICATIONS STARTER: LIGHT: Electric & kick 12 V, 35/35W 1.00 litres (0.26 gallons)

22

SCOOTY PEP+
A Centrifugally operated pivoted clutch and the automatic CVT with torque sensor makes scooty pep technically strong. It also comes in different colours makes people crazy about it.

TECHNICAL SPECIFICATIONS ENGINE AND TRANSMISSION

DISPLACEMENT:

87.80 ccm (5.36 cubic inches) Single cylinder, four-stroke 4.93 HP (3.6 kW)) @ 6500 RPM 5.80 Nm (0.6 kgf-m or 4.3 ft.lbs) @ 4000 RPM 51.0 x 43.0 mm (2.0 x 1.7 inches) Carburettor

ENGINE TYPE: POWER:

TORQUE: BORE X STROKE:

FUEL SYSTEM:

23

IGNITION: COOLING SYSTEM: GEARBOX: TRANSMISSION TYPE, FINAL DRIVE: CLUTCH: DRIVELINE:

Digital DC CDI Air

Automatic Belt

Pivoted Clutch Centrifugally Operated Automatic CVT with torque sensor primary drive CHASSIS, SUSPENSION, BRAKES AND WHEELS

FRONT BRAKES: FRONT BRAKES DIAMETER: REAR BRAKES: REAR BRAKES DIAMETER:

Expanding brake (drum brake) 110 mm (4.3 inches)

Expanding brake (drum brake) 110 mm (4.3 inches)

Physical measures and capacities WEIGHT INCL. OIL, GAS, ETC: GROUND CLEARANCE:
WHEELBASE:

95.0 kg (209.4 pounds)

135 mm (5.3 inches)

1,230 mm (48.4 inches)

FUEL CAPACITY: 5.00 litres (1.32 gallons)

24

APACHE RTR TVS Apache is a motorcycle made by TVS Motors since 2007. TVS Apache is available in three variants: Apache RTR 160 Hyper edge,Apache RTR 180, Apache RTR 180 ABS. The "RTR" stands for "Racing Throttle Response." fitted with the prodigious racing Throttle response engine.A machine capable of hammering out 17.3 PS of pure fury.Born on the race track.Engineered of the street.its pure acceleration on a collision course with pure exhilaration.

TECHNICAL SPECIFICATIONS ENGINE AND TRANSMISSION

DISPLACEMENT:

159.70 ccm (9.74 cubic inches) Single cylinder, four-stroke 15.01 HP (11.0 kW)) @ 8500 RPM 13.10 Nm (1.3 kgf-m or 9.7 ft.lbs) @ 6000 RPM 9.5:1

ENGINE TYPE: POWER:

TORQUE: COMPRESSION:

25

BORE X STROKE: VALVES PER CYLINDER:

62.0 x 52.9 mm (2.4 x 2.1 inches) 2 Carburettor. Mikuni BS-26 SOHC IDI-Dual mode digital ignition 5-speed Chain

FUEL SYSTEM: FUEL CONTROL: IGNITION: GEARBOX: TRANSMISSION TYPE, FINAL DRIVE: CLUTCH:

Wet, Multi-Plate CHASSIS, SUSPENSION, BRAKES AND WHEELS

FRAME TYPE: FRONT SUSPENSION: FRONT SUSPENSION TRAVEL: REAR SUSPENSION: FRONT TYRE DIMENSIONS: REAR TYRE DIMENSIONS: FRONT BRAKES: FRONT BRAKES DIAMETER: REAR BRAKES: REAR BRAKES DIAMETER: WHEELS:

Double cradle Telescopic fork 105 mm (4.1 inches) Monotube inverted gas filled Shochs 90/90-17 100/80-18 Single disc 240 mm (9.4 inches) Expanding brake (drum brake) 130 mm (5.1 inches) Six spoke black rims PHYSICAL MEASURES AND CAPACITIES

SEAT HEIGHT:

790 mm (31.1 inches) If adjustable, lowest setting. 26

OVERALL HEIGHT: OVERALL LENGTH: OVERALL WIDTH: GROUND CLEARANCE:

WHEELBASE:

1,050 mm (41.3 inches) 2,020 mm (79.5 inches) 730 mm (28.7 inches) 180 mm (7.1 inches) 1,300 mm (51.2 inches) 16.00 litres (4.23 gallons) 1.70 litres (0.45 gallons)

FUEL CAPACITY: RESERVE FUEL CAPACITY:

OTHER SPECIFICATIONS STARTER: Electric & kick

TVSFLAME The new SR 125 designed with easy ride features.The 3V CCVTI Engine makes it best of its class. With all the latest features such as electric start, digital console and the widest rear tyre makes it exceptionally interesting.

27

TECHNICAL SPECIFICATIONS ENGINE AND TRANSMISSION

DISPLACEMENT:

124.80 ccm (7.62 cubic inches) Single cylinder, four-stroke 10.32 HP (7.5 kW)) @ 7500 RPM 10.00 Nm (1.0 kgf-m or 7.4 ft.lbs) @ 6000 RPM 10.0:1 54.5 x 53.5 mm (2.1 x 2.1 inches) 3

ENGINE TYPE: POWER:

TORQUE: COMPRESSION: BORE X STROKE: VALVES PER

CYLINDER: FUEL SYSTEM: Carburettor. VM type

CHASSIS, SUSPENSION, BRAKES AND WHEELS FRONT SUSPENSION: REAR SUSPENSION: FRONT TYRE DIMENSIONS: REAR TYRE DIMENSIONS: FRONT BRAKES: FRONT BRAKES DIAMETER: REAR BRAKES: Expanding brake (drum brake) 28 Expanding brake (drum brake). Disc optional 130 mm (5.1 inches) 3.00-18 Telescopic hydraulic fork Twin tube 5 step adjustable gas filled. 2.75-18

REAR BRAKES DIAMETER:

130 mm (5.1 inches)

PHYSICAL MEASURES AND CAPACITIES WEIGHT INCL. OIL, GAS, ETC: OVERALL HEIGHT: OVERALL LENGTH: GROUND CLEARANCE:
WHEELBASE:

123.0 kg (271.2 pounds)

1,070 mm (42.1 inches) 2,030 mm (79.9 inches) 165 mm (6.5 inches)

1,320 mm (52.0 inches) 7.50 litres (1.98 gallons) 2.00 litres (0.53 gallons)

FUEL CAPACITY: RESERVE FUEL CAPACITY:

29

STATEMENT OF PROBLEM

Today company is facing tough competition, due to severe competition which may decrease sales volume of the company, So in order to sustain & compete and to find out the lack / deficiency in the existing marketing activities, a study on brand image is necessary to identify how existing customer perceive the brand and to check whether the TVS Motors enjoys a strong brand image. Hence it is necessary for the company to check its brand image at this point of time.

OBJECTIVES OF THE STUDY

Primary Objective To find out the brand image of TVS Motors with special reference to Royal TVS Palakkad

Secondary Objectives To identify the factors affecting brand image of TVS MOTORS. To know the extent to which the advertisement and sales promotion techniques develop brand image. To analyze the factors which influence the customers while purchasing TVS Motors

SCOPE OF THE STUDY

This study helps to the management to set objectives and also it will helps to develop and initiate various actions and control their performance. It also providing information for taking various marketing strategies. The study also focus on product, product line, advertisement , etc. of the TVS MOTORS. In order to make competition of automobile industries, brand image has to be identified.

30

RESEARCH METHODOLOGY

RESEARCH DESIGN

The research design is of descriptive in nature. Pre-planned design for analysis and structured questionnaire is used for finding the primary data.

DATA SOURCE: Primary Data Primary data is collected from Customers of TVS Vehicles. Secondary Data The secondary data were collected from company records, magazines, journals, website.

RESEARCH APPROACH There are number of methods for collecting the primary data such as survey method, panel method, observation method, etc. But here the researcher has used survey method for collecting primary data.

RESEARCH INSTRUMENT Of many research instruments such as Questionnaire, informal interview etc, the researcher has chosen Questionnaire for this particular study.

CONTACT METHOD Direct Personnel Interview

SAMPLING PLAN The Universe / Population is customers of TVS Motors in Palakkad. The Sample unit is the customers who are visiting Royal TVS in palakkad. And the Sample size is 50 customers. Convenient sampling method is adopted as the Sampling method for this study. 31

RESEARCH PERIOD From August 1to21 August

TOOLS FOR ANALYSIS

Simple percentage method. Weighted Average. Ranking Method.

LIMITATONS OF THE STUDY

1. Time is a major limitation of the study.( only 50 sample size were able to take) 2. The answers given by the respondents may be biased 3. The study is restricted in the boundary of palakkad city, so it cannot be generalized.

32

REVIEW OF LITERATURE

What is brand? Marketers says that branding is the art and cornerstone of marketing. the American marketing association defines a brand as followers a brand is a name, term, sign, symbol or design or combination of them, indented to identify the goods or services of one seller or group of seller and to differentiate them for those of competetors A brand is essentially a sellers promise to deliver a specific set of features , benefit and services consistently to the buyers. The best brands convey a warranty of quality. Images evoked by exposure to a named brand.

BRAND IMAGE The perception of a brand in the minds of persons. The brand image is a mirror reflection (through perhaps inaccurate) of the brand personality or product being. It is what people believe about a brand their thoughts feelings expectations. Brand Image is the impression left in the mind of the prospect by the brand. The time basically a way of consumer thinks about the brand and the feelings the brand arouses when the consumer thinks about it. On the basis of these characteristics, which the consumer associates with the brand, the company can build a competitive advantage for its brand Image gross out of brand positioning, but encompasses everything about brand that gets communicated to the consumer. Image is multidimensional character to brand that places it on any scale good and bad, rational and emotional . advertisings primary job , according to David Ogilvy and Reeves, is to give an identity to the brand and make it individualized review advocates USP(Unique Selling Propositions ). Which makes the consumers remember just one thing from the ad-one strong claim or concept. A crucial part of Reeves theory is that the

proposition or promise made by the ad must be one that the competition has not so far made. Promises of benefit are alright but they must be supported by reasons. The grammatical format of a USP is therefore promise-and reason format. The Oglivy by contrast sides with emotion , and al with reason. 33

According to Oglivy the role of advertising as that of giving the brand a first class ticket through life. The role of advertising is to invert a brand with a set of association, favorable connection or positive psychological overtones . for the most part, these associations are independent of external to properties inherent in the product or use.

BRAND Brand is the proprietary visual, emotional, relational and cultural image that you associate with a company or a product. The fact that you remember the brand name and have positive associations with that brand makes your product selection easier and enhances the value and satisfaction you get product.

BRANDING Branding is the management process by which a product is branded. It is general term covering various activities such as giving a brand name for a product, designing a brand mark and establishing and popularizing

IMPORTANCE OF BRANDING In the present day market, branding is inevitable and plays an important role in demand creation. A large number of product even today live in the markets due to effective use brand names. BRAND IMAGE Brand Image is the impression left in the mind of the prospect by the brand. Sengupta defines Brand Image as the totality of the impressions about the brand. This according to him includes its physical, functional and psychological aspects of the brand. Aaker has the following o say about brand image,An association and image both represent perceptions which may or may not reflect objective reality. As image of competence may be based upon the appearance of a doctors office and the manners of his staff rather than on the objective measure of the health of former patients. Kapferer thinks that brand identity is from the senders side while brand image is from the receivers (consumers) side. 34

Meryl Paule Gardner examines the constituents of brand image and calls them bra nd thoughts. It is such brand thoughts that constitute the image of a brand.

John Plummer indicates that brand image has three components: a. Product attributes b. Consumers benefits c. Brand personality That is Plummer treats as a subset of image. Brand image would stem from 3 sources. These are a. Provider-driven image b. Product -driven image c. User driven image Provider driven Image This is the image derived from the company/brand. A brand is what it is because of the company that makes it. For instance, a brand name like Tata signals quality in everything it makes from steel to salt. In fact, it is likely that a couple of percentage points of the market share acquired by any Tata brand is owned to the brand name Tata itself. Product driven Image This image is a result of the products performance. This in turn depends on its ingredients. Santoor toilet soap promises skin care through its contents (sandal wood and turmeric). User-driven Image This image is driven by the lifestyle of the user. A particular lifestyle is projected through a product. This is done through user- imagery. Naughty Boy shoe has more to do with a school boys image rather than the products characteristics. Van Heusen shirts are an expression of a particular lifestyle.

35

BRAND IMAGE ESTABLISHED PRODUCTS AND NEW PRODUCTS

Brand image of most established products is difficult to change. This hypothesis appeals intuitively. This is because the brand would have acquired a personality step by step over a period of time. Anything that disturbs the core values of the personality shall be summarily rejected. New brands do not have to carry the baggage of heritage. But they also lack a clear image in the mind of consumers. Today if a new brand has to create an image for itself it has to market itself in a radically different fashion. Sometimes a brand can run into serious image related problems because of the product. Research on image built through endorsement of celebrities show that there are 3 aspects that influence the consumers attitude of a brand. These are: a. Attractiveness b. Trustworthiness c. Expertise BRAND IMAGE AND IMAGERY Image is the product seen from the consumers perspective. It is what the consumers think about the product. Imagery is the consumer seen from the products perspective. Hirschiman argue that it is possible to create images of brands and nurture them consistent communication.These imageries fall in three categories namely, a. Sacred b. Secular c. Mediating A sacred imagery is where the product gets evaluated to the metaphysical blue skies because of the setting and the ritual of consumption. Secular imagery for a product is where the consumer would like to break the routine to do something new or to find a simple remedy for a problem.Mediating image is something that skillfully weaves the use of the sacred and the secular in its imagery. 36

BRAND IMAGE AND USER STATUS An interesting observation is that brand images are formed irrespective of whether the brand is being considered for purchase or not. Whether one is likely to purchase a Maruthi or not, one is likely to have a brand image of the product. This in turn has been shown to be linked to the execution of the advertisement besides other modes of information available to the consumers.

BRAND IMAGE AND BRAND PERSONALITY Brand Personality is the sum total of all the significant tangible and intangible assets that a brand possesses. Brand Image is how the brand is perceived by the consumer. In other words, brand personality is the cause while brand image is the effect.

BRAND IDENTITY Brand Identity defined by Aaker is the sum of the brand expressed as a product, organization, person and symbol. Brand identity includes names, logos, positioning brand associations and brand personality. A good brand name gives a good first impression and make evokes positive association with the brand. Brand associations are the attributes that consumers think of when they hear or see the brand name.

CONCEPT OF BRAND EQUITY Brand Equity refers to a set of assets and liabilities linked to brand, its name and symbol add to or subtract from the value provided by a product or service to a firms competitors. In other words brand equity provides value to a firm in the form of price premium or trade leverage or competitive advantage. Brands assets can be categorized into five groups. a. Brand loyalty b. Brand name awareness c. Brands perceived quality d. Other proprietary brand assets like patents, trademarks, channel relations etc. 37

Brand Evaluation It is difficult to value brand precisely. A brand value is a function of customers perception his/hers perception towards it and the economic value in the brand then he/she will be willing to pay a premium to buy it.

BRANDING Each firm wants to identify its products and distinguish them from their competitors in the market. A firm does it by means of branding. Branding means naming a product for its identification and distinction. A product will gain its image and consumer loyalty through its brand. Branding means giving a name to the product by which it should become known and familiar among the public. In other words, it is the practice of giving a specified name to a product or group of product of one seller. A brand is a product name or logo that, when consumers are knowledgeable, immediately brings to mind a specific product or service. It provides a device for the identification of the product of a firm. It also enables the consumer to distinguish the product of one firm form other rival products. The American Marketing Association defines a brand as a name, term, sign, symbol or design or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors. A brand is essentially a sellers promise to deliver a specific set of features, benefits, and services consistently to the buyers. The best brands convey a warranty of quality. But a brand is an even more complex symbol. It can convey up to six levels of meaning: 1. Attributes: A brand brings to mind certain attributes. 2. Benefits: Attributes must be translated into functional and emotional benefits. 3. Values: The brand also says something about the producers values. 4. Culture: The brand may represent a certain culture. 5. Personality: The brand can project a certain personality. 6. User: The brand suggests the kind of consumer who buys or uses the product.

38

Brand management holds the key in the modern markets. In a world where products are multiplying and becoming more and more similar, management of brands is critical for survival of the products as well as the companies making them. As Stephen King said, A product is something that is made in the factory. A brand is something that is bought by a consumer. Brands are bridges between the factories where products are made and the consumers who buy them. It is this connection, which makes them true generators of corporate wealth and power. The value of a companys business is now determined by the way it manages its brands than conventional assets it possess. If a company treats a brand only as a name, it misses the point. The branding challenge is to develop a deep set of positive associations for the brand. Marketers must decide at which level(s) to anchor the brands identity. Promoting the brand is only on one benefit can also be risky. The most enduring meanings of a brand are its values, culture, and personality. They define the brands essence. The goal of branding is to convince the public that a brand is trustworthy and thus worth paying a premium for. The buyer is assured that the branded product will perform as expected. People are winning to pay a premium price for bands that help define their self-image and their social image. Successful brand marketers can convince you that their brands are worth paying a little more for because you are worth it, and because there are brands that someone with your standing in society should prefer over others. This effect of branding can be felt in every category of product or service from automobiles to floor cleaners. Subliminal impulses produced by brand names only happen when consumers have been pre-informed about the benefits provided by the brand. It usually comes with heavy consumer advertising, but can also result from word-of-mouth communications. To make this happen, the benefits provided by the brand must be strongly defined and well understood or sales of the branded products will not be affected. There are many instances where brand names become so recognized that they actually become a generic name for that type of product. For example brand names such as Band-Aid, Kleenex, Xerox, etc.

39

Characteristics of Good Brand In selecting the brand name of design the following points may be considered:

1. The word selected for branding must be simple and easy to pronounce. 2. The name should be short and easy to remember. 3. The name must provide necessary suggestion about the products benefits. 4. The name should be appropriate for the product. 5. It should suggest some product quality. 6. It should be illustrate and clearly distinctive form other brands. 7. It should not be outdated. Functions of Branding The objective or functions of branding are summarized as follows: 1. To create an identification of the product and give individuality to the product. 2. To help the buyer to identify the product. 3. To help the seller to manufacturer to earn goodwill or prestige. 4. To help in advertising and packaging activities. 5. To help in creating and marinating brand loyalty to particular product. 6. To help repeat sales and provide stability in sales volume.

Reasons for Branding Brands are most powerful instruments of sales promotion due to the following reasons: 1. It plays an important role in demand creation and pushing up sales. 2. It makes the product attractive and popular. 3. It helps in identifying the product and distinguishes it from the goods of competitors. 4. It helps in advertising and sales promotion programs. 5. It ensures uniformity of quality and satisfaction to buyers. 6. It helps the manufacturers in introducing their new products in the market successfully. 7. It develops brand loyalty and consumer preference.

40

Types of brands 1. Individual brand: Each product has a special brand name.

2. Family Brand: It is a single brand name used for several related products. 3. Company brand: This is also called umbrella brand. All products of one company will be given one name or symbol. 4. Combination device: Each product has an individual name but it also has the umbrella brand to indicate the firm producing them. 5. Private or Middlemens Brand: The producer produces the product and uses the distributors brand.

Brand preference Brand preference may be defined as preference of one brand over the other. It is a decision-making activity where one ultimate brand is selected.

Brand Building Brand building is making a product, service, or company stand for something, thus creating a positive interest that would make a defined audience buy or support it and keep supporting it against the efforts of competitors.

Brand Loyalty Some of the most popular brand of consumer products has been popular for decades, providing convincing evidence of the strength of brand loyalty. Brand loyalty simply means commitments to a particular brand. It refers to the loyalty of a buyer towards a particular brand. In other words, it is the strong attachment of a buyer towards a particular brand. He will not buy other substitutes if the brand is available. As brand loyalty increases, the threat from competition reduces. There are three levels of brand loyalty. The first level is brand awareness. This means that people are familiar with the product and they are likely to buy it because they recognize it. The next level is brand preference. At this level people adopt the product-that is, they habitually buy it if it is available. The ultimate level is brand insistence. It is the stage at which people will accept no substitute. 41

Advertising and branding Advertising is often used to make consumers aware of a products special low price or its benefits. But an even more important function of advertising is to create an image that consumers associate with a product, known as the brand image. The brand image goes far beyond the functional characteristics of the product. For example, a soft drink may have a particular taste that is one of its benefits. But when consumers think of it, they not only think of its taste, but they may also associate it with high energy, extreme action, unconventional behavior, and youth. All of those meanings have been added to the product by advertising. Consumers frequently buy the product not only for its functional characteristics but also because they want to be identified with the image associated with the brand. By adding meaning to a product, advertising also adds value. For example, when Philip Morris Companies Inc. purchased Kraft Foods, Inc. in 1988 for nearly $13 billion, Philip Morris paid 600 percent more than Krafts factories and inventory were worth. Over 80 percent of the purchase price was for the current and future value of the Kraft brand, a value that was created in large part by advertising. Advertising plays such an important role in promoting products and adding value to brands that most companies spend considerable sums on their advertising and hire specialized firms, known as advertising agencies, to develop their advertising campaigns. Advertising is most frequently done on television, radio, and billboards; in newspapers, magazines, and catalogs; and through direct mail to the consumers. In recent years, numerous advertising agencies have joined forces to become giant agencies, making it possible for them to offer their clients a comprehensive range of worldwide promotion services.

Objectives of Advertising The basic objectives of advertising are to inform, to persuade and to remind the target audience. The Chairman of American Express Company had once said good advertising must have three effects: (i) increase sales, (ii) create news and (iii) enhance the companys image. In a strictly commercial sense these three elements would constitute the underlying purpose of all advertising.

42

The main objectives of advertising are summarized as follows. 1. To prepare a ground for new product. 2. To create, maintain and increase demand of products. 3. To face competition successfully. 4. To create or enhance goodwill. 5. To inform the changes regarding price, channel of distribution, product quality, etc. to the public. 6. To create brand preference. 7. To educate consumers. 8. To capture a place in the market and become a market leader. 9. To remind the consumers of the product from time to time. 10. To encourage the middlemen to maintain the stock of the enterprise.

THE POWER OF BRAND NAMES A strong brand can help you achieve your business goals by increasing acceptance. A firm with a dynamic brand gets notices, opening the door to more opportunities. When a prospect must choose between competing firm, a brand can se you apart when services and prices appear to be equal. Branding is the expression of a firms unique character, positioning and offerings. While you may develop and promote your brand, it will only gain value once it is recognized and preferred by consumers. If the concept of the brand sounds like a foreign language, it may be helpful to examine the benefits that from a brand. A dynamic brand should: Differentiate your firm: - To be noticed in this busy world, you must be different. Have memorable presences: - A brand should make your firm stand out and grab mid share-it should stick in the minds of those who come in contact with it. Projects a dynamic firm culture: - You want to project a personality that engages the marketplace. Project quality: - In a business where services are invisible, a brand can make a statement about the quality and nature of your organization well before a prospect sets foot in your office.

43

Position you in the marketplace: - A brand can provide context for the prospect-are you a Cadillac firm or do you sell on price? Make you look good against any competitor: - More and more, competition overlaps industry lines. Therefore, a brand must stand up well in any industry, against any niche firm.

Be compatible: - The brand must fit with the clients frame of mind and tastes. People do business with those who understand them and make them comfortable. People within your own firm should also feel good about the brand and make every effort to promote it.

Convey strength: - The brand that conveys decisive leadership will be sought by those who seek guidance. Excite the senses: - You gain the advantage if your brand elicits and emotional response. Emotions are often more persuasive than logic. Serve as a springboard for standout marketing: - A brand serves as a great platform for the development of innovative ideas by your marketers.

44

DATA ANALYSIS AND INTERPRETATION Table 1:- The Products used by the respondents at present. Brands Star city Star sports Wego Scooty streak Scooty Pep+ Apache RTR Others Total No. of Respondents 7 7 8 6 12 8 2 50 Percentage 14 14 16 12 24 16 4 100

Analysis: - It is clear from the above table that 24% of the respondents are using Scooty Pep+,16% of the respondents are using Wego and Apache RTR ,14% of the respondents are using Star city and Star sports, 12% of the respondents are using Scooty streak and rest 4% of the respondents are using Other Brands. Chart 1:- The Product used by the respondents at present.
24%

25%

20% no of respondents 14% 14% 16% 12% 10% 4% 16%

15%

5%

0% Star city Star aports Wego Scooty streak Scooty pep+ Apache RTR Others

Interpretation: - Majority of the respondents are using Scooty Pep+.

45

Table 2:- The Mode of purchase.

Usage Cash Hire Purchase Total

No. of respondents 15 35 50

Percentage 30 70 100

Analysis: - The Table 2 clearly shows that 70% of respondents are purchasing vehicles in credit and rest 30% of respondents are purchasing in cash. Chart 2:- The Mode of purchase.

Mode of Purchase

30%

Hire purchase 70% Cash

Interpretation:- From the analysis it can be interpreted that most of the respondents prefer Hire Purchase for purchasing vehicles. 46

3.PRODUCT ATRIBUTES 3.1:Performance parameters Table 3.1.1:- The Respondents Opinion about the Comfort level of TVS Motors. Comfort No. of respondents Percentage Very Good 16 32 Good 25 50 Average 7 14 Poor 2 4 Very Poor 0 0 Total 50 100 Analysis: - From the table it is clear that 50% of the respondents opined that the Comfort of the TVS Vehicle is good 32% of the respondents stated very good , 14% of the respondents stated average comfort level and only 4% of the respondents said poor about the comfort level.

Chart 3.1.1:- The Respondents Opinion about the Comfort of TVS Vehicles.

Comfort
50% 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Very Good Good Average Poor Very Poor 4% 0% 14%

Interpretation: - Majority of the respondents opined that the Comfort level of the TVS Vehicle is good . 47

no of respondents

32%

Table 3.1.2:- The Respondents Opinion about the POWER of TVS Vehicles. Power Very Good Good Average Poor Very Poor Total No. of respondents 6 18 24 2 0 50 Percentage 12 36 48 4 0 100

Analysis: From the analysis it is clear that 48% of the respondents opined that the Power of the TVS Vehicle is Average, 36% of the respondents stated Good, 12% of the respondents stated very good and rest 2% of the respondents stated poor.

Chart 3.1.2:- Respondents Opinion about the POWER of TVS Vehicles.

POWER
48% 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Very Good Good Average Poor Very Poor 4% 0 12% 36%

Interpretation: - Majority of the respondents opined that the Power of the TVS Vehicle is average.

no of respondents

48

Table 3.1.3:- The Respondents Opinion about the Design of TVS Vehicles. Design Very Good Good Average Poor Very Poor Total No. of respondents 14 27 6 3 0 50 Percentage 28 54 12 6 0 100

Analysis: - From the table it is clear that 54% of the respondents opined that the Design of the TVS Vehicle is good, 28% of the respondents stated very good , 12% of the respondents stated average and rest 3% of the respondents stated poor

Chart 3.1.3:- Respondents Opinion about the Design of TVS Vehicles.

DESIGN
60% 50% 54%

no of respondents

40% 28% 30% 20% 10% 0% Very Good Good Average Poor Very poor 12% 6% 0%

Interpretation: - Majority of the respondents opined that the Design of the TVS Vehicle is good .

49

Table 3.1.4:- The Respondents Opinion about the Style of TVS Vehicles. Style Very Good Good Average Poor Very Poor Total No. of respondents 15 27 6 2 0 50 Percentage 30 54 12 4 0 100

Analysis: - From the table it is clear that 54% of the respondents opined that the Style of the TVS Vehicle is good, 30% of the respondents stated very good , 12% of the respondents stated average and rest 4% of the respondents stated the style is poor.

Chart 3.1.4:- The Respondents Opinion about the Style of TVS Vehicles.

STYLE
60% 50% 54%

no of respondents

40% 30% 20% 10% 0%

30%

12% 4% 0%

Very Good

Good

Average

Poor

Very poor

Interpretation: - Majority of the respondents opined that the Style of the TVS Vehicle is good . 50

Table 3.1.5:- The Respondents Opinion about the Technology of TVS Vehicles. Technology Very Good Good Average Poor Very Poor Total No. of respondents 17 19 8 6 0 50 Percentage 34 38 16 12 0 100

Analysis: - From the table it is clear that 38% of the respondents opined that the Technology of the TVS Vehicle is good, 34% of the respondents stated very good , 16% of the respondents stated average and rest 12% of the respondents opined poor.

Chart 3.1.5:- Opinion about the Technology of TVS Vehicles.

Technology
40% 35% 38% 34%

no of respondents

30% 25% 20% 15% 10% 5% 0% Very Good Good Average Poor Very Poor 0% 16% 12%

Interpretation: - Majority of the respondents opined that the Technology of the TVS Vehicle is good . 51

Table 3.1.6:- The Respondents Opinion about the Mileage of TVS Vehicles. Mileage Very Good Good Average Poor Very Poor Total No. of respondents 9 12 21 5 3 50 Percentage 18 24 42 10 6 100

Analysis: - From the table it is clear that 42% of the respondents opined that the Mileage of the TVS Vehicle is average, 24% of the respondents stated good , 18% of the respondents stated Very good , 10% of the respondents stated poor and rest 6% of the respondents stated very poor. Chart 3.1.6:- The Respondents Opinion about the Mileage of TVS Vehicles.

Mileage
45% 40% 35% 30% 25% 20% 15% 10% 5% 0% 42%

no of respondents

24% 18% 10% 6%

Very Good

Good

Average

Poor

Very Poor

Interpretation: - Majority of the respondents opined that the Mileage of the TVS Vehicles is average.

52

Table 3.1.7:- The Respondents Opinion about the Warranty of TVS Vehicles Warranty and Reliability No. of respondents Percentage Very Good Good Average Poor Very Poor Total 14 20 9 7 0 50 28 40 18 14 0 100

Analysis: - From the table it is clear that 40% of the respondents opined that the Performance of the TVS Vehicles is good, 28% of the respondents stated very good, 18% of the respondents stated average and rest 14% of the respondents stated poor.

Chart 3.1.7:- The Respondents Opinion about the Warranty of TVS Vehicles.

Warranty
40% 40% 35% 28%

no of respondents

30% 25% 20% 15% 10% 5% 0% Very Good Good Average Poor Very Poor 0% 18% 14%

Interpretation: - Majority of the respondents opined that the Warranty of the TVS Vehicle is good . 53

Table 3.2:- The Respondents Opinion about the reasonable pricing of TVS Vehicles. Pricing Highly Satisfied Satisfied Neither Satisfied or dissatisfied Somewhat Satisfied Dis Satisfied Total No. of respondents 6 35 7 Percentage 12 70 14

2 0 50

4 0 100

Analysis: - The above table reveals that 70% of the respondents are satisfied with pricing of TVS Vehicles , 14% of the respondents are Neither Satisfied or dissatisfied, 12% of the respondents are Highly Satisfied, 4 % of the respondents are Somewhat Satisfied. Chart 3.2:- The Respondents Opinion about the Pricing of TVS Vehicles.

Price
0.8 0.7 70%

no of respondents

0.6 0.5 0.4 0.3 0.2 0.1 0 Highly Satisfied Satisfied Neither Satisfied or dissatisfied Somewhat Satisfied Dis Satisfied 12% 14% 4% 0%

Interpretation: - Most of the respondents agreed that the pricing of TVS Vehicles is Satisfied.

54

3.3 CUSTOMER SERVICE. Table:3.3.1, The Respondents Opinion about Service availabilty at convenient location. No. of respondents Highly Satisfied Satisfied Neither dissatisfied Somewhat dis Satisfied Dis Satisfied Total 4 1 50 8 2 100 Satisfied 10 27 or 8 20 54 16 Percentage

Analysis: - From the analysis it is clear that 54% of the respondents opined that the Service Availability of the TVS Vehicle is Satisfied, 20% of the respondents stated Highly Satisfied, 16% of the respondents stated neither Satisfied or dissatisfy,8%of the respondents stated Som ewhat dis Satisfied and rest 2% of the respondents stated Dis Satisfied. Chart 3.3.1:- The Respondents Opinion about the Service Availability of the TVS Vehicles

60% 40% 20% 20% 0%

54%

16% 8% 2%

Interpretation: - Majority of the respondents opined that the Service Availability of the TVS vehicle is Satisfied. 55

Table:3.3.2, The Respondents Opinion about availability of spare parts. Availability of spare sparts HighlySatisfied Satisfied neitherSatisfied or dissatisfy Somewat disSatisfied DisSatisfied Total 29 15 4 2 0 50 No. of respondents 58 30 8 4 0 100 Percentage

Analysis: - From the analysis it is clear that 58% of the respondents opined that the Service Availability of the TVS Vehicle is HighlySatisfied, 30% of the respondents stated Satisfied, 8% of the respondents stated Somewhat dis Satisfied Chart 3.3.2:- The Respondents Opinion about Availability of spare sparts of TVS Vehicle
58%

neitherSatisfied or dissatisfy,4%of the respondents stated

60% 50% 40% 30% 20%

30%

8% 10% 0% HighlySatisfied Satisfied neitherSatisfied or dissatisfy

4%

0%

Somewat disSatisfied

DisSatisfied

Interpretation: - Majority of the respondents opined that the Availability of Spare parts is the TVS vehicle is Highly Satisfied.

56

Table:3.3.3, The Respondents Opinion about the Service Charges of TVS Vehicles. Service charges HighlySatisfied Satisfied Neither dissatisfied Somewhat dis Satisfied DisSatisfied Total 5 4 50 10 8 100 Satisfied 7 18 or 16 No. of respondents 14 36 32 Percentage

Analysis: - From the analysis it is clear that 36% of the respondents opined that the Service Charges of the TVS Vehicle is Satisfied, 32% of the respondents stated neither Satisfied or dissatisfied, 14% of the respondents stated Highly Satisfied,10% of the respondents stated Somewhat dis Satisfied and rest are stated as dis Satisfied.

Chart 3.3.3:- The Respondents Opinion about Service Charges.

Service Charges
40% 35% 30% 25% 20% 15% 10% 5% 0% 36% no of respondents 32%

14%

10%

8%

Interpretation: - Majority of the respondents opined that the Service charges of TVS vehicle is Highly Satisfied. 57

4.IDENTIFICATION AND RECOGONITION PARAMETERS: Table:4.1 The Respondents Opinion about the Brand Logo of TVS Vehicles. Brand logo Easily recollect recollect Not recollect total 24 17 9 50 No. of respondents 48 34 18 100 Percentage

Analysis: - From the analysis it is clear that 48% of the respondents opined that the Brand Logo of the TVS Vehicle is Easily Recollect, 34% of the respondents stated Recollect, 18% of the respondents stated Not Recollect. Chart:4.1 The Respondents Opinion about Brand Logo of TVS Vehicles.

Brand Logo
48% 50% 45% 40% no of respondents 35% 30% 25% 20% 15% 10% 5% 0% Easily recollect recollect Not recollect 18% 34%

Interpretation: - Majority of the respondents opined about Brand Logo of TVS Vehicles is Easily recollect.

58

Table :4.2; The Respondents Opinion about the Product names of TVS Vehicles.

Product names Easily recollect Recollect Not recollect Total 35 12 3 50

No. of respondents 70 24 6 100

Percentage

Analysis: - From the analysis it is clear that 70% of the respondents opined that the Product names of the TVS Vehicle is Easily Recollect, 24% of the respondents stated Recollect, 6% of the respondents stated Not Recollect.

Chart:4.2; The Respondents Opinion about product names of TVS Vehicles.

Product names
70% 80% 70% no. of respondents 60% 50% 40% 30% 20% 10% 0% Easily recollect recollect Not recollect 6% 24%

Interpretation: - Most of the respondents opined about Product names of TVS Vehicles is Easily recollect 59

Table :4.3 The Respondents Opinion about the Advertisements of TVS Vehicles. ADVERTISEMENTS Easily recollect recollect Not recollect total 17 25 8 50 No. of respondents 34 50 16 100 Percentage

Analysis: - From the analysis it is clear that 50% of the respondents opined that Advertisements of the TVS Vehicle is Recollect, 34% of the respondents stated Easily recollect,16% of the respondents stated Not Recollect.

Chart:4.3 The Respondents Opinion about Advertisements of TVS Vehicles.

Advertisements
50% 50% 45% 40% no of respondents 35% 30% 25% 20% 15% 10% 5% 0% Easily recollect recollect Not recollect 16% 34%

Interpretation: - Majority of the respondents opinion about Advertisements of TVS Vehicles is recollectable.

60

Table :4.4; The Respondents Opinion about the Brand ambassador of TVS Vehicles. Brand ambassador Easily recollect recollect Not recollect total 15 29 6 50 No. of respondents 30 58 12 100 Percentage

Analysis: - From the analysis it is clear that 58% of the respondents opined that Advertisements of the TVS Vehicle is Recollect, 30% of the respondents stated Easily recollect,12% of the respondents stated Not Recollect.

Chart:4.4; The Respondents Opinion about Brand Ambassadors of TVS Vehicles.

Brand Ambassadors
58% 60% 50% no of respondents 40% 30% 20% 10% 0% Easily recollect recollect Not recollect 12% 30%

Interpretation: - Majority of the respondents opinion about Brand Ambassadors of TVS Vehicles is recollectable.

61

Table :4.5 The Respondents Opinion about the Brand Slogan of TVS Vehicles. Brand slogan Easily recollect recollect Not recollect total 12 27 11 50 No. of respondents 24 54 22 100 Percentage

Analysis: - From the analysis it is clear that 54% of the respondents opined that Brand Slogan of the TVS Vehicle is Recollect, 24% of the respondents stated Easily recollect,22% of the respondents stated Not Recollect.

Chart:4.5 The Respondents Opinion about Brand Slogan of TVS Vehicles.

Brand Slogan
60% 50% 54%

no of respondents

40% 24% 30% 20% 10% 0% Easily recollect recollect Not recollect 22%

Interpretation: - Majority of the respondents opinion about Brand Slogan of TVS Vehicles is recollectable. 62

Table 5:- Ranking of factors while choosing TVS Vehicles.

Ranks Reasons 1 2 3 4 5 6 7 8 9 10

Safety

31

Style & Design

37

Performance

18

Resale value

11

22

Price

11

Power and Pulling

16

Availability of Spares

18

Service Availability

16

Milege

11

10

Warranty

16

18

63

Ranks Reasons

1 *10 310

2 *9 45

3 *8 24

4 *7 35

5 *6 12

6 *5 5

7 *4 0

8 *3 0

9 *2 4

10 *1 1

Total Score 437

Rank

Safety 370 Style & Design 80 Performance 0 Resale value 60 Price 30 Power and pulling 40 Availability of Spares 40 Service Availability 90 Mileage 0 Warranty 0 0 28 12 5 36 48 36 0 165 9 54 40 77 60 40 4 0 0 0 365 3 144 48 7 18 10 12 21 4 6 310 5 162 56 21 24 10 4 18 6 2 343 4 25 32 56 30 80 16 12 0 1 282 8 27 56 77 30 10 16 9 6 6 297 6 18 0 0 12 20 44 6 44 7 151 10 63 16 0 0 90 36 3 4 3 295 7 27 40 21 0 5 0 0 0 1 464 1

Analysis:- *Total score is obtained by giving 10 points to 1st rank, 9 points to 2nd rank, 8 points to 3rd rank, 7 points to 4th rank , 6 points to 5th rank, 5 points to 6th rank, 4 points to 7th rank, 3 points to 8th rank, 2 points to 9th rank, 1 points to 10th rank

64

Factors

Total Scores

Rank

464 Safety 437 Style & Design 365 Performance 343 Resale value 310 Price 297 Power and pulling 295 Availability of Spares 282 Service Availability 165 Mileage 151 Warranty

1 2 3 4

5 6 7 8 9

10

Analysis :- The table reveals that the factors which are considered most important while choosing TVS Vehicles are Style as the first factor, Safety as the second factor, Mileage as the thirdfactor,Availabilityof Spares, Service Availability,Price,Performance,Power,Warranty,Resale value are as follows.

65

Chart 5:- Ranking of factors while choosing TVS Vehicles.

500 464 450 437

400 365 350 343 310 no. of respondends 300 297

295 282

250

200 165 150 151

100

50

Interpretation: - The main factor which is considered most important while choosing TVS Vehicles by the respondents is Style, followed by Safety and Mileage.

66

Table 6:- The Respondents Opinion about the Sense of Self esteem to TVS Vehicles.

Self esteem Yes No May be Cant say Total

No. of respondents 50 0 0 0 50

Percentage 100 0 0 0 100

Chart 6:- The Respondents Opinion about the Sense of Self esteem to TVS Vehicles.

Self esteem
50% 50% 45% 40% no of respondents 35% 30% 25% 20% 15% 10% 5% 0% Yes No May be Cant say 0% 0% 0%

Interpretation: - Respondents opinion about Self esteem of TVS Vehicles is 100%.

67

Table 7:-The respondents opinion about companies. Parameters Excellent Good Fair Poor Very Poor Total

TVS Vehicles when compared to other

No. of respondents 11 28 9 2 0 50

Percentage 22 56 18 4 0 100

The weights are assigned to the parameters in order to calculate the overall average rating of all the respondents as follows Parameters Excellent Good Fair Poor Very Poor Total Weight 2 1 0 -1 -2 50 No. of Respondents 11 28 9 2 0 48 Total 2*11=22 1*28=28 0*9=0 -1*2=-2 -2*0=0

= Sum of [Frequency X Weight]/ Sample size = 48/50 = 0.96

68

Analysis: 56% of the respondents rated Good 22% of the respondents rated Excellent 18% of the respondents rated Fair 4% of the respondents rated Poor On an average it is 0.96 ,that is 1 , rated Good

Chart 7:-The respondents opinion about TVS Vehicles when compared to other companies.

60%

56%

50%

no of respondends

40%

30% 22% 20% 18%

10%

4% 0%

0% Excellent Good Fair Poor Very Poor

Interpretation: - As per the analysis the average is 0.96 ie., Majority of the respondents opined that TVS Vehicles are Good when compared to other companies.

69

Table 8:- The respondents opinion about the extent to which advertising and sales promotion brings awareness of TVS Vehicles.

Category Very Great Extent Great Extent Limited Extent Very Limited Extent Total

No. of respondents 19 25 6 0 50

Percentage 38 50 12 0 100

Analysis: - The above table reveals that 50% of the respondents stated

great extent that

advertisement & sales promotion brings awareness of TVS products, 38 % stated very great extend and rest 6% stated limited extent.

Chart 8:- The respondents opinion about the advertising and sales promotion brings awareness of TVS Vehicles.
50% 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0%

38%

no. of respondends

12% 0% Very Great Extent Great Extent Limited Extent Very Limited Extent

Interpretation: - Majority of the respondents opined that advertisement & sales promotion brings awareness to TVS Vehicles to a great extent. 70

FINDINGS

1. From the survey conducted, it is found that most used TVS Products are Scooty Pep+ (24%).

2. The survey shows that 69% of the customers are purchasing TVS vehicles in credit. 3. PRODUCT ATRIBUTES 3.1Performance parameters:

Comfort of TVS Vehicles: 50%of the respondents stated that the Comfort of the TVS vehicles is good . Power of TVS Vehicles: 48% of the respondents agreed that power of TVS vehicles is Average Design of TVS Vehicles: 54% of the respondents agreed that design of TVS vehicles is good. Style of TVS Vehicles: 54% of the respondents agreed that style of TVS vehicles is good. Technology of TVS Vehicles: 38% of the respondents agreed that technology of TVS vehicles is good. Mileage of TVS Vehicles: 42% of the respondents stated that mileage of TVS vehicles is average. Warranty of TVS Vehicles: 40% of the respondents stated that warranty of TVS vehicles is good.

71

3.2 Price of TVS Vehicles: 70% of the respondents are satisfied with the pricing of TVS vehicles

3.3 CUSTOMER SERVICE Service Availability at convenient Locations of TVS Vehicles: 54% of the respondents stated that the service availability of TVS vehicles is satisfied.

Availability of Spare parts of TVS Vehicles: 58% of the respondents stated that availability of spares of TVS vehicles is Highly Satisfied.

Service Charges of TVS Vehicles: 36% of the respondents stated that service charges of TVS vehicles is Highly Satisfied.

4. IDENTIFICATION AND RECOGONITION PARAMETERS:

Brand Logo of TVS Vehicles: 48% of the respondents stated that Brand Logo of TVS vehicles is easily recollected. Product names of TVS Vehicles:70% of the respondents stated that product name of TVS vehicles is easily recollected. Advertisement of TVS Vehicles: 50% of the respondents stated that Advertisements of TVS vehicles is recollected. Brand Ambassador of TVS Vehicles: 58% of the respondents stated that Brand Ambassador of TVS vehicles is recollected.

72

 Brand Slogan of TVS Vehicles: 54% of the respondents stated that Brand Slogan of TVS vehicles is recollected.

5.

Majority of the respondents stated that the factors which considered most

important while choosing TVS Vehicles are Style, safety, Mileage, Availability of Spares, Service availability etc..

6. Most of the respondents stated that TVS Vehicles provide 100% of sense of Self esteem.

7. 56% of customers opined that TVS Vehicles are good when compared to other companies

8. Around 50% of the respondents opined that advertisement & sales promotion brings awareness to TVS Vehicles to a great extent.

73

SUGGESTIONS

The product now enjoys a strong brand image, but to sustain it in future and to face competition, the company has to improve its service to customer. The company has done well in maintaining the quality of the product up to the expectations of the customers and should continue doing the same to raise above the customers expectation through a new marketing mix by emphasizing on promotional measure like advertising and sales promotion. The company shall provide more service centers to ensure better customer service that help to achieve better customer satisfaction and Image. The company may take adequate steps in advertising new offers and discounts of their products through newspapers and TV channels by celebrities and increase the frequency of advertisement.

CONCLUSION

The study on brand image of TVS vehicles was conducted at Royal TVS which is one among the well-known dealers in Palakkad District. The sample was selected from the customers who visited Royal TVS show room. From the study it can be concluded that the company is having a good image but it has to strive hard in order to maintain the image. And as the competition is high it has to increase the frequency of advertisement in order to attain a sustainable position in the minds of customers. Overall the company is having a good brand image which will definitely help the company to attain the desired growth.

74

BIBLIOGRAPHY

Books Referred:-

S.A. Sherlekar, K. Nirmala Prasad, S.J. Salvadore Victor, Principles Of Marketing, Himalaya Publishing House, Year 2003. Dr. N. Rajan Nair, Sanjith R. Nair, Marketing, Sultan Chand & Sons Educational Publishers, Year 2002. Philip Kotler : Principles of Marketing , Pearson Publications Ltd, 11 th edition , Year 2006. Y L R Moorthi, Brand Management The Indian Concept, Published By Vikas Publishing House Ltd. Year 2004. C.R. Kothari, Research Methodology, New International Pvt. Ltd, 2004. Dr. Rustoms Davar, Modern Marketing Management, UBS Publishers Distributors Pvt. Ltd. Seventh Edition. Philip Kotler & Kevin Lane Keller, Marketing Management, Pearson education, 12 th edition. S.A. Sherlekar, Marketing Management, Himalaya Publishing House, 2007 . Journals and Magazines Auto India Car and Bike International Websites www.tvsmotor.in www.indiaautomobile.com www.autoindia.com www.answers.com www.wikipedia.com www.ssrn.com 75

APPENDIX

QUESTIONNAIRE Dear sir/madam, I NAVAS.K.A, MBA student of JAWAHARLAL COLLEGE OF ENGINEERING AND TECHNOLOGY,LAKKIDI as part of my MINOR PROJECT would like to collect the valuable information regarding Brand image of TVS MOTORS, Kindly fill and return

Topic

:- A Study on Brand image of TVS MOTORS with special reference to Royal TVS Palakkad

Name of the Company :- Royal TVS Palakkad

Please tick() in the appropriate box.

Name Address Sex Age

: : : : Female Below 20 30-40 Below 10000 Above 20000 Male 20-30 Above 40 10000-20000

Monthly Income : Occupation Marital Status : :

76

1. Which product are you using at present ? Star city star sports Wego

Scooty streak scooty pep+ Others(Specify.)

ApacheRTR

2. State the mode of purchase Cash Hire Purchase

3.PRODUCT ATRIBUTES 3.1.PERFORMANCE PARAMETERS Comfort Power Design Style Technology Mileage Warranty Very Good Good Average Poor Very Poor

3.2Are you satisfy with price of TVS MOTORS Highly Satisfied Satisfied

Neither Satisfied or dissatisfied Somewhat Satisfied

77

Dis Satisfied 3.3

CUSTOMER HighlySatisfied Satisfied Neither SERVICE

Somewhat Dis satisfied

satisfied Dis or Satisfied satisfied

Availability at convenient Locations Availability of spareparts Service charges

4.IDENTIFICATION AND RECOGONITION PARAMETERS Easily recollect Brand logo Product names Advertisements Brand ambassador Brand slogan recollect Not recollect

78

5. Please rank the factors which is considered as most important while choosing TVS Motors. Factors Safety Style & Design Performance Resale value Price Power and pulling Availability of spares Service availability Mileage Warranty 6. Do TVS products provide a sense of self esteem to you? a)Yes b)no c)may be d)cant say Ranks

7. How do you compare TVS Vehicles with other companies ? Excellant Good Fair Very Poor

Poor

8. . In your opinion to what extent Advertising and Sales promotion brings awareness of TVS Products? Very Great Extent Limited Extent Great Extent Very Limited Extent

79