The actual goal of the research process is to evaluate the customer’s buying behavior of cars by taking Tata Nano as the primary example and analyzing car-marketing segments in the automobile industry in order to support the Indian automobile companies especially Tata Nano, for improving their market sales.
Scope of the Project
The main scope of this project is to analyze the information on the Indian automobile industry and the car marketing aspects of automobile industry by considering Tata Nano as an example. This research will provide the detailed overview on the automobile industry in India and the changes in the Indian automobile industry after the establishment of Tata Nano. It will cover the different aspects related to the car marketing like the marketing plans and marketing strategies required for success.
Deliverables of the Project
The main deliverables of this project are as follows:
- The overview of the Indian automobile industry
- The detailed information on the buying behavior of the customers when they buy cars
Limitations and Obstacles
Within the process of completing this research, the researcher hasn’t faced any obstacles until now and in the process of gathering the information from the different types of data collection methods of primary source of data, there are some limitations and restrictions for collecting the information. In the process of gathering the information from the articles and case studies of previous scholars the researcher was asked to get authenticated for downloading them. The researcher followed the authentication and registration process and successful gathered the information without violating the previous scholar’s information. For completing the research process in a successful way the researcher will rectify them immediately and will complete research process in a reliable manner.
The significant information on Indian automobile industry is explained in detail within this research study. According to this study Indian automobile industry is facing tough competition in the market because of changing behavior of customers. Even though many companies are using strategic approaches and marketing methods in order to identify and satisfy the wants and needs of customers still they are facing problems in managing customer behavior process. Tata Nano a recent invention of Tata Motors has shown major impact on Indian automobile sector because it the customer car designed and implemented with all needs of the customers within a reasonable price which is the cheapest car in the World.
There are three main significant aspects in this research process such as Indian automobile industry, buying behavior of customers and Tata Nano. Researcher used different literature searchers and published articles and journals on these aspects and analyzed them in a critical manner and finally identified that identifying the actual wants and needs of the customers is the significant problem faced by automobile companies. According to this study even though companies are following many marketing strategies and methods in order to satisfy the customers, still changing behavior of customers is showing its impact on the companies. One customer might prefer fuel efficient car and other may prefer low cost car with high features because product preferences changes from customer to customer. Indian automobile market is a huge group with different communities of people and they cultures and values shows impact on their buying behavior.
On the other hand, Tata Motors established Tata Nano car in order to reach target customers and was successful in the first year but year by year sales of Nano are decreasing rapidly because of customer feedback and reviews of existing customers. Many complaints are been raised on Nano car that it is not having much sufficient place and having some technical problems etc that has effected the sales of Nano car recently. In order to overcome this problem Tata Motors made changes to Nano car according to the customer feedback in order to satisfy existing and new customer needs. Finally, even though Nano is the cheapest car still many other companies are successful in the market because price is not only the concern to buy the cars but there are other specific reasons through which customers buy the cars.
Finally this study concludes that identifying customer buying behavior is not a simple task and no research study has explained the actual buying behavior of customers because it does not have proper definition and it changes continuously according to changing preferences of the customers. In order to become successful company among the competitors, companies should first identify the high preferences of the customer on specific aspect and offer efficient services to the customer according to that preference in order to improve the sales. On the other hand if that particular preference changes continuously then companies can innovate their products according to the changing behavior and preferences of the customers.