maruti suziki intro

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CHAPTER-1

PLAN OF STUDY


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MARKETING

Marketing is the process of communicating the value of a product or service tocustomers, for

the purpose of selling the product or service. It is a critical business function for attracting

customers.

From a societal point of view, marketing is the link between a societys material requirements

and itseconomicpatterns of response. Marketing satisfies these needs and wants through

exchange processes and building long term relationships. It is the process of communicating the

value of a product or service through positioning to customers. Marketing can be looked at as an

organizational function and a set of processes for creating, delivering and communicating value

to customers, and managing customer relationships in ways that also benefit the organisation and

itsshareholders. Marketing is thescienceof choosingtarget marketsthrough market analysis

andmarket segmentation, as well as understanding consumer buying behavior and providing

superior customer value.

There are five competing concepts under which organizations can choose to operate their

business; the production concept, the product concept, the selling concept, the marketing

concept, and the holistic marketing concept. The four components of holistic marketing are

relationship marketing, internal marketing, integrated marketing, and socially responsive

marketing. The set of engagements necessary for successful marketing management includes,capturing marketing insights, connecting with customers, building strong brands, shaping the

market offerings, delivering and communicating value, creating long-term growth, and

developing marketing strategies and plans

Marketing concept

Earlier approach

The marketing orientation evolved from earlier orientations, namely, the production orientation,

the product orientation and the selling orientation.

OrientationProfit

driver

Western

European

Description
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timeframe

Production[4]

Production

methods

until the

1950s

A firm focusing on a production orientation

specializes in producing as much as possible of

a given product or service. Thus, this signifies

a firm exploitingeconomies of scaleuntil

theminimum efficient scaleis reached. A

production orientation may be deployed when a

high demand for a product or service exists,

coupled with a good certainty that consumer

tastes will not rapidly alter (similar to the sales

orientation).

Product[4]

Quality of

the product

until the

1960s

A firm employing a product orientation is

chiefly concerned with the quality of its own

product. A firm would also assume that as long

as its product was of a high standard, people

would buy and consume the product.

Selling[4]

Selling

methods

1950s and

1960s

A firm using a sales orientation focuses

primarily on the selling/promotion of a

particular product, and not determining new

consumer desires as such. Consequently, this

entails simply selling an already existing

product, and using promotion techniques toattain the highest sales possible.

Such an orientation may suit scenarios in

which a firm holds dead stock, or otherwise

sells a product that is in high demand, with
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little likelihood of changes in consumer tastes

that would diminish demand.

Marketing[4]

Needs and

wants of

customers

1970s to the

present day

The 'marketing orientation' is perhaps the

most common orientation used in

contemporary marketing. It involves a firm

essentially basing its marketing plans around

the marketing concept, and thus supplying

products to suit new consumer tastes. As an

example, a firm would employ market research

to gauge consumer desires, use R&D (research

and development) to develop a product attunedto the revealed information, and then utilize

promotion techniques to ensure persons know

the product exists.

HolisticMarketing[2]

Everything

matters in

marketing

21st

century

The holistic marketing concept looks at

marketing as a complex activity and

acknowledges that everything matters in

marketing - and that a broad and integrated

perspective is necessary in developing,

designing and implementing marketing

programs and activities. The four components

that characterize holistic marketing are

relationship marketing, internal marketing,

integrated marketing, and socially responsive

marketing.

Contemporary approaches[edit]

Recent approaches in marketing includerelationship marketingwith focus on the

customer,business marketingorindustrial marketingwith focus on an organization or institution

andsocial marketingwith focus on benefits to society.[5]

New forms of marketing also use
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theinternetand are therefore calledinternet marketingor more generally e-marketing, online

marketing, "digital marketing", search engine marketing, ordesktop advertising. It attempts to

perfect thesegmentation strategyused in traditional marketing. It targets its audience more

precisely, and is sometimes calledpersonalized marketingor one-to-one marketing.Internet

marketingis sometimes considered to be broad in scope, because it not only refers to marketing

on the Internet, but also includes marketing done via e-mail, wireless media as well as driving

audience from traditional marketing methods like radio and billboard to internet properties

orlanding page.

Orientation Profit driver

Western

European

timefram

e

Description

Relationship

marketing/Relationshi

p management[5]

Building and

keeping good

customer relations

1960s to

present

day

Emphasis is placed on the whole

relationship between suppliers and

customers. The aim is to provide the

best possible customer service and

build customer loyalty.

Business

marketing/Industrial

marketing

Building and

keeping relationships

betweenorganizations

1980s to

present

day

In this context, marketing takes

place

betweenbusinessesororganizations

. The product focus lies

onindustrial goodsorcapital

goodsrather than

consumerproductsor end products.

Different forms of marketing

activities, such as promotion,

advertising and communication to
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the customer are used.

Societal marketing[5]

Benefit to society

1990s to

present

day

Similar characteristics to marketing

orientation but with the added

proviso that there will be a

curtailment of any harmful

activities to society, in either

product, production, or selling

methods.

Branding Brand value

1980s to

present

day

In this context, "branding" refers to

the main company philosophy and

marketing is considered to be an

instrument of branding philosophy.

Customer orientation[edit]

Constructive criticism helps marketers adapt offerings to meet changing customer needs.

A firm in themarket economysurvives by producinggoodsthat persons are willing and able to

buy. Consequently, ascertainingconsumer demandis vital for afirm's future viability and even

existence as agoing concern. Many companies today have a customer focus (or market

orientation). This implies that the company focuses its activities and products on consumer
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demands. Generally, there are three ways of doing this: the customer-driven approach, the

market change identification approach and the product innovation approach

In the consumer-driven approach, consumer wants are the drivers of all strategic marketing

decisions. No strategy is pursued until it passes the test of consumer research. Every aspect of amarket offering, including the nature of the product itself, is driven by the needs of potential

consumers. The starting point is always the consumer. The rationale for this approach is that

there is no reason to spend R&D (research and development) funds developing products that

people will not buy. History attests to many products that were commercial failures in spite of

being technological breakthroughs.

A formal approach to this customer-focused marketing is known as SIVA (Solution, Information,

Value, Access). This system is basically the four Ps renamed and reworded to provide a

customer focus. The SIVA Model provides a demand/customer-centric alternative to the well-

known 4Ps supply side model (product, price, placement, promotion) of marketing management.

Product Solution

Promotion Information

Price Value

Place (Distribution) Access

If any of the 4Ps were problematic or were not in the marketing factor of the business, the

business could be in trouble and so other companies may appear in the surroundings of the

company, so the consumer demand on its products will decrease. However, in recent years

service marketing has widened the domains to be considered, contributing to the7P's of

marketingin total. The other 3P's of service marketing are: process, physical environment and

people.

Some consider there to be a fifth "P": positioning. SeePositioning (marketing).
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Some qualifications orcaveatsfor customer focus exist. They do not invalidate or contradict the

principle of customer focus; rather, they simply add extra dimensions of awareness and caution

to it.

The work ofChristensenand colleagues ondisruptive technologyhas produced a theoreticalframework that explains the failure of firms not because they were technologically inept (often

quite the opposite), but because the value networks in which they profitably operated included

customers who could not value a disruptive innovation at the time and capability state of its

emergence and thus actively dissuaded the firms from developing it. The lessons drawn from this

work include:

Taking customer focus with agrain of salt, treating it as only a subset of one's corporatestrategy rather than the sole driving factor. This means looking beyond current-state

customer focus to predict what customers will be demanding some years in the future, even

if they themselves discount the prediction.

Pursuing new markets (thus new value networks) when they are still in a commerciallyinferior or unattractive state, simply because their potential to grow and intersect with

established markets and value networks looks like a likely bet. This may involve buying

stakes in the stock of smaller firms, acquiring them outright, or incubating small, financially

distinct units within one's organization to compete against them.

Other caveats of customer focus are:

The extent to which what customerssay they want does not match their purchasingdecisions. Thus surveys of customers might claim that 70% of a restaurant's customers want

healthier choices on the menu, but only 10% of them actually buy the new items once they

are offered. This might be acceptable except for the extent to which those items are money-

losing propositions for the business, bleeding red ink. A lesson from this type of situation is

to be smarter about the truetest validityof instruments like surveys. A corollary argument is

that "truly understanding customers sometimes means understanding them better than they

understand themselves." Thus one could argue that the principle of customer focus, or being

close to the customers, is not violated herejust expanded upon.
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The extent to which customers are currently ignorant of what one might arguetheyshouldwantwhich is dicey because whether it can be acted upon affordably depends

on whether or how soon the customers will learn, or be convinced, otherwise. IT hardware

and software capabilities and automobile features are examples. Customers who in 1997 said

that they would not place any value on internet browsing capability on a mobile phone, or

6% betterfuel efficie
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CUSTOMER SATISFACTION

Customer satisfaction, a term frequently used inmarketing, is a measure of how products and

services supplied by a company meet or surpass customer expectation. Customer satisfaction is

defined as "the number of customers, or percentage of total customers, whose reported

experience with a firm, its products, or its services (ratings) exceeds specified satisfaction

goals." In a survey of nearly 200 senior marketing managers, 71 percent responded that they

found a customer satisfaction metric very useful in managing and monitoring their businesses.

It is seen as a key performance indicator within business and is often part of aBalanced

Scorecard. In a competitive marketplace where businesses compete for customers, customer

satisfaction is seen as a key differentiator and increasingly has become a key element of business

strategy.

"Within organizations, customer satisfaction ratings can have powerful effects. They focus

employees on the importance of fulfilling customers expectations. Furthermore, when these

ratings dip, they warn of problems that can affect sales and profitability. . . . These metrics

quantify an important dynamic. When a brand has loyal customers, it gains positive word-of-

mouth marketing, which is both free and highly effective."

Therefore, it is essential for businesses to effectively manage customer satisfaction. To be able

do this, firms need reliable and representative measures of satisfaction.

"In researching satisfaction, firms generally ask customers whether their product or service has

met or exceeded expectations. Thus, expectations are a key factor behind satisfaction. When

customers have high expectations and the reality falls short, they will be disappointed and will

likely rate their experience as less than satisfying. For this reason, a luxury resort, for example,

might receive a lower satisfaction rating than a budget moteleven though its facilities and

service would be deemed superior in 'absolute' terms."

The importance of customer satisfaction diminishes when a firm has increasedbargaining power.

For example,cell phoneplan providers, such asAT&TandVerizon, participate in an industry

that is anoligopoly, where only a few suppliers of a certain product or service exist. As such,

many cell phone plan contracts have a lot offine printwith provisions that they would never get

away if there were, say, a hundred cell phone plan providers, because customer satisfaction
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would be far too low, and customers would easily have the option of leaving for a better contract

offer.

There is a substantial body of empirical literature that establishes the benefits of customer

satisfaction for firms.

Purpose

A business ideally is continually seeking feedback to improve customer satisfaction.

"Customer satisfaction provides a leading indicator of consumer purchase intentions and

loyalty." "Customer satisfaction data are among the most frequently collected indicators of

market perceptions. Their principal use is twofold:"

1. "Within organizations, the collection, analysis and dissemination of these data send amessage about the importance of tending to customers and ensuring that they have a

positive experience with the companys goods and services."

2. "Although sales or market share can indicate how well a firm is performing currently,satisfaction is perhaps the best indicator of how likely it is that the firms customers will

make further purchases in the future. Much research has focused on the relationship

between customer satisfaction and retention. Studies indicate that the ramifications of

satisfaction are most strongly realized at the extremes." On a five-point scale,

"individuals who rate their satisfaction level as '5' are likely to become return customers

and might even evangelize for the firm. (A second important metric related to

satisfaction is willingness to recommend. This metric is defined as "The percentage of

surveyed customers who indicate that they would recommend a brand to friends." When

a customer is satisfied with a product, he or she might recommend it to friends, relatives

and colleagues. This can be a powerful marketing advantage.) "Individuals who rate their

satisfaction level as '1,' by contrast, are unlikely to return. Further, they can hurt the firm

by making negative comments about it to prospective customers.Willingness to

recommendis a key metric relating to customer satisfaction."
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Objectives of the Study

study the customer satisfaction with the usage of vehicles of MARUTI SUZUKI

-sales and after sales services

provided by the dealers.

Scope and Limitations of the Study

As the time constraint was there to complete this and as there was also finance restriction to

spend on the data collection activities. So for data collection, I have limited myself to customers

who brought their vehicles in specified period only.

s confined only to delhi city.


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(Reichheld 1996; Srivastava, Shervani, and Fahey 1998). All of this empirical evidence

suggeststhat customer satisfaction is valuable from both a customer goodwill perspective and an

organizations financial perspective.

According to Kotler (2000) it is important to measure customer satisfaction regularly through

survey to determine customers level of satisfaction. He said this is because firms may think that

they are getting a sense of customer satisfaction through customer complaints. However, in

reality, 95 percent of dissatisfied customers do not make any complaint and they just leave. As a

result it is important for firms to make it easy for the customer to complain. About 54 to 70

percent dissatisfied customers who usually complain, will continue to do business again with the

organization if their complaints are taken care of and resolved.

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maruti suziki intro