Welcome, students! I am sharing my Project Report On Customer Satisfaction Strategies Of Mahindra & Mahindra (M&M). I hope you will find it helpful.
I spent a lot of time talking to people who own Mahindra cars, hanging out at dealerships, and looking at a ton of info about the company. This report is all about what I found out. I tried to make it interesting and easy to understand. You Can find the Pdf file of this project in the end of this article.
Here is the summary of my project –
Introduction
Mahindra & Mahindra (M&M) is the top company for multi-utility vehicles in India. They started making commercial vehicles back in 1945. Now, they’re the biggest in commercial vehicles and second biggest in passenger vehicles in India. Globally, they’re the sixth largest maker of medium and heavy commercial vehicles.
M&M is really well-known for their utility vehicles and tractors in India. Their automotive division, which is their oldest part (started in 1945), makes jeeps and three-wheelers. These aren’t the passenger “auto rickshaws” you might think of, but more practical delivery and flatbed types. In 1963, during India’s green revolution, M&M started their farm equipment division, which makes tractors and industrial engines. They also make vehicles for the military. M&M has factories all over India.
For this project, I gathered lots of information about the company, what they make, how happy their customers are, and how other competing companies affect M&M. From all this info, I found several areas where M&M could do better to make their marketing team more effective for their vehicles.
I did my research by collecting both primary and secondary data. For secondary data, I looked at different websites, car magazines, and other reliable sources. For primary data, I made a detailed questionnaire. Later, I analyzed all the answers using computer tools like Microsoft Word and Excel. Based on all this research and analysis, I came up with some conclusions and suggestions to help M&M.
What Customer Satisfaction Means
The word “satisfied” meant different things to different people I talked to. Some thought of it as feeling content or happy, others as feeling relieved. Some saw it as achieving their goals, while others focused on being happy with what they got and not having any hassles.
Philip Kotler, a famous marketing expert, defined customer satisfaction in 1996 as “how a person feels after comparing a product’s performance or result with what they expected.” So, for car buyers, we can think of satisfaction as how they feel about the car compared to what they thought it would be like before they bought it.
Findings of The Project Report of Customer Satisfaction Strategies Of Mahindra & Mahindra
In this study, I wanted to:
1. Gather information about how satisfied customers are with all types of Mahindra Motors vehicles in Jaipur, Rajasthan.
2. Understand what customers think about the features, low maintenance costs, and looks of Mahindra vehicles.
3. Find out if customers feel Mahindra vehicles are safe and comfortable.
4. Come up with ideas to help improve customer satisfaction and boost the company’s sales and profits.
5. Learn how satisfied customers are with the after-sales service M&M offers.
History Car Industry
The car industry has completely changed how people live and work. The first modern cars were made in 1895. Soon after, the first cars arrived in India. By the early 1900s, there were already 1025 cars in Mumbai.
But the story of transportation in India goes back much further. People have been using wheels for getting around for about 4000 years. In the 1400s, when Portuguese traders came to China, the mixing of these two cultures led to new technologies, including a wheel that could turn by itself.
By the 1600s, people had made small steam-powered engine models, but it took another hundred years before someone built a full-sized vehicle powered by an engine. In 1893, two brothers named Charles and Frank Duryea introduced the first real “horseless carriage” in America. That same year, Henry Ford made his first experimental car.
One of the fanciest early luxury cars was the 1909 Rolls-Royce Silver Ghost. It had a quiet 6-cylinder engine, leather inside, folding windscreens and hood, and an aluminum body. Usually, a chauffeur would drive it, and it was all about comfort and style rather than speed.
In the 1920s, cars started to have new features like balloon tires, pressed-steel wheels, and four-wheel brakes. By the 1930s, cars were less boxy and more streamlined. The 1940s brought things like automatic transmission, sealed-beam headlights, and tubeless tires.
In 1957, powerful high-performance cars like the Mercedes-Benz 300SL came out. It was compact and stylish, and could go up to 230 km/h. Today’s modern cars are usually light, shaped to cut through the air easily, and compact.
About Mahindra & Mahindra
M&M started in 1945 as Mahindra & Mohammed. After India was divided, one of the partners, Ghulam Mohammad, went back to Pakistan and became the Finance Minister there. So in 1948, the company changed its name to Mahindra & Mahindra.
M&M began by making general-purpose utility vehicles. In 1949, they started putting together CKD jeeps. Over the years, they expanded and started making light commercial vehicles (LCVs) and farm tractors.
Besides tractors and LCVs, M&M also showed they were good at making vehicles for the army. They soon started working in other countries, setting up factories in China, the UK, and the USA. M&M teamed up with well-known international companies like Renault SA and International Truck and Engine Corporation from the USA to become more global. They also began exporting their products to many countries around the world. They set up branches in different places, including Mahindra Europe Srl in Italy, Mahindra USA Inc., Mahindra South Africa, and Mahindra (China) Tractor Co. Ltd.
At the same time, M&M became the biggest tractor maker in India, leading the market for about 25 years. They’re experts at designing, developing, making, and selling tractors and farm tools. In April 2007, they entered the passenger car market in India by making the Logan (a mid-size sedan) with Renault.
After the Logan did well, M&M started making a wide range of LCVs and three-wheelers, as well as SUVs like the Scorpio and Bolero. Today, the Bolero is really popular in India and is one of the most chosen vehicles in its class.
SUV Products from M&M
1. Mahindra Bolero: This is one of M&M’s most successful and popular utility vehicles. It looks tough and was designed carefully to handle Indian roads. The Bolero is also one of the most fuel-efficient cars in India, with a 2500 cc diesel engine and 5-speed transmission.
2. Mahindra Scorpio: M&M launched the Scorpio as their first Sports Utility Vehicle in India in 2002. This SUV changed what people expected from SUV design with its strong looks and powerful performance. The fancy interior design makes it look even better.
3. Mahindra Ingenio: M&M is planning to launch a new multi-purpose vehicle (MPV) to compete with the Toyota Innova and Chevrolet Tavera. They want to sell it to both individual buyers and taxi companies.
4. Mahindra Renault Logan: The long-awaited Mahindra-Renault Logan was launched in India. It’s a compact sedan that’s spacious, practical, and affordable. It looks impressive, and the basic version is good value for money, although the top-end versions are a bit expensive. The best things about this car are how it performs, its interiors, and how economical it is.
5. Mahindra Xylo: M&M launched this Multi Utility Vehicle (MUV) in India on January 13, 2009. The Xylo has all the luxury features you’d see in today’s sedans, but with the space of a utility vehicle. It looks muscular, which makes it stand out on the road. It’s packed with the latest features and is sure to impress Indian buyers and give tough competition to other vehicles in its class.
Important Moments in M&M’s History
1947: In October, they imported the first batch of 75 Utility Vehicles (UVs) in CKD condition from Willys Overland Export Corporation.
1949: They leased 11,071 square yards at Mazagaon from British India Steam Navigation. The first Willys Overland Jeep was built in India at the Assembly Plant in Mazagaon, Mumbai.
1954: They started manufacturing vehicles with help from Kaiser Jeep Corporation and American Motors Corporation.
1962: The amount of locally-made parts in the Jeep went up to 70%. To centralize manufacturing, they bought 137 acres of land at Kandivli.
1965: They introduced FC 150 Petrol Trucks.
1967: They introduced two-wheel drive Utility Vehicles and the 101″ wheelbase and Metal Body UVs. The amount of locally-made parts went up to 97%.
1969: They started exporting vehicles. They exported 1200 UVs along with spare parts to Yugoslavia, and also to Ceylon, Singapore, Philippines, and Indonesia.
1970: They made deals to export 3304 vehicles, mainly to Yugoslavia and Indonesia.
1971: They set up a separate R&D section.
1974: They launched the Maxi Miller campaign to save fuel. They introduced the CJ 4A with a new transmission and axle ratio. They made an agreement to work with Jeep Corporation (a subsidiary of AMC, Detroit).
1975: They introduced the FC 260 Diesel light truck and CJ 500 D Diesel with MD 2350 Diesel Engine.
1979: The Indian government approved, in principle, a technical collaboration with Peugeot (France) to make XDP 4.90 Diesel Engines.
1981: They opened the Nasik Trucks Assembly Plant and Peugeot Engine Assembly Plant at Ghatkopar. The NC 665 DP Mini Truck rolled out from the Nasik Assembly Line.
1983: They introduced the FJ 460 model with a 4-speed gearbox. Mr. Jean Boillot, President of Automobiles Peugeot of France, officially opened the engine plant at Igatpuri to make 25,000 Peugeot and Petrol engines.
1985: They launched the New Mahindra Vehicle-MM 540 in Mumbai. They introduced the NC 640 DP with 4-speed gearbox and Mahindra MM 440.
1986: They introduced the CJ 640 DP Vehicle.
1987: They introduced the MM 540 DP metal Body Wagonette.
1988: M&M signed an agreement with Hyderabad Allwyn Nissan Limited to form Mahindra Nissan Allwyn Ltd., as its associate company for LCV operations in Andhra Pradesh.
1989: They introduced the CJ 340 DP model. M&M and Peugeot announced they would work together to make Peugeot 504 pickup trucks, BA 10 gearboxes, and the latest XD 3 diesel engines. M&M bought an automotive pressing unit at Kanhe from Guest Keen Williams Ltd.
1991: They introduced the CJ 500 DI model with MDI 2500 A direct injection diesel engines. M&M got an order to export 10,000 CKD kits. They also launched the Commander range of models: 650 DI, 750 DP/HT, which were very popular in the market.
1993: They launched the Mahindra Armada.
1995: Mahindra Nissan Allwyn Ltd. (MNAL) merged with M&M, and the Zaheerabad LCV operations became part of the Automotive Sector. They moved the FJ series of LCVs from Nasik to Zaheerabad. The Igatpuri Engine Plant got the ISO 9002 certificate.
1996: They launched the new LCV model Cabking DI 3150 & Mahindra Classic vehicles. They introduced the new Commander 5 Door Hard Top.
1997: They started making the Ford Escort at the Nasik Plant. They signed an agreement with Mitsubishi Motors Corporation to make SL Body vehicles at Zaheerabad (Voyager with XD 3 and BA 10). The Kandivli and Nasik plants got the ISO 9002 certificate from RW-TUV.
1998: They opened a new die shop at the Nasik Plant on August 2, 1997. The Chairman launched the Voyager at the Zaheerabad Plant on November 12, 1997.
Awards and Recognition
1. Highest CRISIL Rating: M&M got the highest Governance & Value Creation rating, CRISIL GVC Level – I from CRISIL. This shows they’re good at creating value for everyone involved while following good business practices.
2. Dun & Bradstreet American Express Corporate Awards 2006: M&M was named the top Indian company in the Automobile – Tractors sector. These awards look at how big and fast-growing companies are.
3. Amity HR Excellence Award: M&M won this award at the Fourth Amity Global HR Summit 2007. The award recognized M&M as one of the most admired companies worldwide for its innovative ways of managing and developing its people.
4. Global HR Excellence Award: M&M won this award for Innovative HR practices in the manufacturing sector at the Asia Pacific HRM Congress in Mumbai. These awards recognize organizations and people who have embraced change, encouraged challenges, and shown entrepreneurial skills in the business world.
5. Bombay Chamber Good Corporate Citizen Award 2006-07: M&M won this prestigious award on September 21, 2007. This award recognizes companies that have done outstanding work in serving the community, in addition to performing well in their business.
6. Golden Peacock Award for Excellence in Corporate Governance: M&M won this coveted award in 2006. This award shows that the company follows the best practices in how it’s run and deals ethically and transparently with everyone involved.
7. Best Automotive Manufacturing Supply Chain Excellence Award: M&M won this award on September 28, 2007. The awards were presented by India Times Mindscape (Times of India Group) along with the Business India Group.
8. High Rankings:
– M&M was ranked second in the prestigious “Most Trusted Car Company in India” study by TNS.
– They were ranked 14th in The Economic Times’ prestigious ‘ET 500’ list of top achieving companies in India.
– They were ranked 22nd in Business India’s annual survey of the country’s top companies – Super 100.
– They were ranked 31st in Business Today’s annual survey of India’s most valuable companies.
Customer Satisfaction Strategy of Mahinda & Mahindra
Customer satisfaction is really important for businesses these days. With so much competition, it’s hard for companies to keep customers for a long time. To do this, companies need to make sure customers are satisfied. If a customer is really happy with a product, it not only helps the company run successfully but also brings many benefits. Happy customers are less sensitive to prices and stay customers for longer. They also buy more products over time as the company introduces related products or improves existing ones.
That’s why every company is doing surveys to find out how satisfied customers are with their products. This project is also about finding out how satisfied customers are with Mahindra and Mahindra vehicles.
The car industry has had a huge impact on the rest of the economy. It’s played a crucial role in helping the country produce more valuable goods and services and in improving people’s skills. There’s a lot of demand for cars, so many car manufacturers are facing tough competition in terms of technology and price.
M&M uses different strategies to keep customers happy:
1. Customer Relationship Management (CRM): They use this to create positive word-of-mouth, to keep track of customer experiences, and to get referrals. They do regular direct communication, events, customer satisfaction surveys, festive offers, rewards programs, and more.
2. Providing Better Facilities to Owners: They focus on giving car owners good facilities and services.
3. Providing Better After-Sales Service: They try to give excellent service even after the car is sold.
About the Dealer
Morani Fourwheels is one of the largest authorized dealers for M&M vehicles. They had record sales in their first year of operation. They’re a preferred partner of M&M, mainly because of their successful sales record and quality. Their facilities are top-notch, and they work every day to make them even better.
They have a big, air-conditioned showroom in Rajasthan, spread over 8100 sq.ft in Jaipur. They have friendly front office staff and skilled technicians, providing great service and reliability.
The showroom is designed to make customers feel comfortable and relaxed. They have the latest technology to give the best services. They even have a customer waiting lounge with a TV, pool table, and web kiosk.
Their team of mechanics offers expert care for vehicles. The sales team is dedicated to customer satisfaction and helps customers make the right choice.
Morani Fourwheels provides genuine spare parts and accessories to ensure exceptional performance. They take care of every aspect related to the customer’s vehicle.
They use various promotional activities like:
– Test driving
– Free driving
– Putting up hoardings
– Offering discounts
– Advertising in newspapers and magazines
– Giving gift schemes
– Providing free services
– Holding mileage contests
SWOT Analysis of M&M
Strengths:
1. People trust the Mahindra brand name.
2. They have strong relationships with their dealers.
3. They have more authorized service stations than their competitors.
4. Their products use M-HAWK and CRDe engines, which are working well on the roads.
5. Most of the market relies on credit, so the easy finance provided by Mahindra Finance gives them an advantage over competitors.
6. Their vehicles are more stylish compared to Tata products.
7. They offer more space than Tata products.
8. Their vehicles are considered safer than Tata products.
9. The fuel tank is large, so customers don’t need to go to the petrol pump as often.
Weaknesses:
1. Dealers sell vehicles at different prices in the same city.
2. Some dealers replace original parts with non-original ones.
3. The MRF tires they use don’t have a very good claim processing system. Claims are only processed twice a week.
4. Their vehicles have lower fuel efficiency than Tata products.
5. Maintenance costs are high.
6. Their vehicles are out of reach for middle-class customers because the initial cost of Mahindra SUVs is above 4 lakhs.
7. The rising cost of raw materials results in low profit margins, so they can’t offer many discounts.
Opportunities:
1. Road infrastructure in India is improving.
2. People’s standard of living is improving because of increasing per capita income, so there’s a chance to expand the business to every corner of the city.
3. The government has relaxed norms for getting permits.
Threats:
1. Demand might decrease due to market upheaval.
2. Tata and Maruti products have a strong presence in the market.
Research Methodology
My research process involved several steps that guided the project from start to finish. This approach helped ensure that all aspects of the research were consistent with each other.
I used both primary and secondary research methods:
Secondary Research:
I first did extensive secondary research to fully understand the auto industry and its impact. I reviewed industry reports and norms, which helped me identify important questions that needed further investigation.
Primary Research:
For primary data collection, I used questionnaires. Questionnaires are a widely used and economical way to collect data. I made sure the questionnaire was easy to read and understand for all types of people in my sample. I also kept it short, taking only 4-5 minutes to complete, to respect people’s time and energy.
I personally gave out these questionnaires to 200 respondents. I approached people in shopping malls, markets, and places near car showrooms. The respondents included housewives, students, businessmen, professionals, and others.
Data Analysis:
After collecting the data, I analyzed it using basic tools like Microsoft Excel. This helped me understand patterns and draw conclusions from the information I gathered.
Conclusions
Based on my research, I came to these conclusions:
1. Mahindra and Mahindra Motors has a very good market share in Jaipur, Rajasthan, especially for SUVs.
2. The company is providing good services, which is reflected in customer satisfaction.
3. Most customers are satisfied with the design of M&M vehicles.
4. Mahindra & Mahindra is providing better facilities compared to other brands.
5. About 67% of the respondents said they’re happy with the Bolero model. This shows that customer satisfaction levels are quite high. If the company can identify and fix any weaknesses in their product, it could lead to even more positive word-of-mouth publicity.
6. While most customers feel that the maintenance cost of Mahindra Bolero is low, about 20% aren’t satisfied. This might be because they’re comparing the Bolero with newly launched competing brands that have even lower maintenance costs.
7. 80% of the respondents are happy with the space available in Mahindra Bolero vehicles. This suggests that the company has done good research and development in this aspect. The 20% who aren’t satisfied might be comparing it with very recently launched vehicles in the same category.
In conclusion, Mahindra & Mahindra seems to be doing well in terms of customer satisfaction in Jaipur, especially with their SUV models. Their brand is trusted, and most customers appreciate the design, space, and features of their vehicles. However, there’s room for improvement in areas like fuel efficiency and initial cost. The company should continue to focus on understanding and meeting customer needs as the auto market keeps evolving.
This project should provide useful insights for M&M to further improve their products and customer satisfaction. As with any market research, there’s always more to learn about what customers want and how their preferences change over time.
Main Project Pdf File
Instructions for Students:
As students engage with this project, they are encouraged to modify and create a comprehensive report on the given topic. Drawing on the content provided, students can elaborate on specific sections, conduct additional research, and offer their perspectives. This exercise aims to enhance research and report-writing skills while fostering a deeper understanding of Mahindra & Mahindra, the automobile industry, and customer satisfaction strategies.
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