Bike Segmetn

CHAPTER 1

INTRODUCTION

                                    1. INTRODUCTION

1.1 GENERAL INTRODUCTION TO THE STUDY

Two-Wheeler industry is one of the largest industries in the automobile sector of global market. Being the leader in product and process technologies in the manufacturing sector, it has been recognized as one of the drivers of economic growth. During the last decade, well¬-directed efforts have been made to provide a new look to the automobile policy for realizing the sector's full potential for the economy. The liberalization policies have led to continuous increase in competition which has ultimately resulted in modernization in line with the global standards as well as in substantial cut in prices. Aggressive marketing by the auto finance companies have also played a significant role in boosting automobile demand, especially from the population in the middle income group.

Presently many international brands like Honda, Suzuki, etc. are competing with Indian brands such as Hero Honda, Bajaj, and T V S, Kinetic etc. to capture Indian markets.
These aggressive marketing strategies have resulted in making the consumer the major key for success in the industry. Each product offering is now designed to meet and exceed the expectations of the consumer. But understanding consumer behaviour and knowing consumers is never simple. And it is more difficult that to understand what a consumer perceives about the product. Customers may say one thing but do another. They may not be in touch with their deeper motivations. They may respond to influences that change their minds at the last moment. Small companies such as a corner grocery store and huge corporations stand to profit from understanding how and why their consumers buy.

.1.2 THEORETICAL BACKGROUND OF STUDY

1.2.1. Market

The term market may be considered as a convenient meeting place where buyers and sellers gather together for the exchange of goods and services. Market means a group... [continues]

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