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Premium member Presentation Transcript STUDY ON CONSUMER BUYING BEHAVIOR FOR A CAR: STUDY ON CONSUMER BUYING BEHAVIOR FOR A CAR Submitted To : Prof. Sarika Tandon STUDY OF CONSUMER BUYING BEHAVIOUR FOR A CARGroup Members: Group Members Taqweem Iqbal Ahmed Kuldeep Singh Vivek Morjaria Nishant Singh Dristhi Sharma Arpit MaanINTRODUCTION : INTRODUCTION Problem Statement: New Car Buyer Behaviour - Quantifying Key Stages & Activities in the Consumer Buying Process. Research Objectives: • Managing demand. • Understanding influences on timing of purchase decisions. • Validate current positions on consumer behaviour.Questionnaire Design: Questionnaire Design To design the buying behaviour of consumer. The respondents were asked to give the preference about the brand they want.Sample Characteristics: Sample Characteristics “Sample” consisted of the customers of five CAR companies in India viz. VW,Maruti, Hyundai, Tata, Mahindra These cars were selected, as they are representative of the major segments in the car industry from full fare to low priced cars. Targeted sample size was 40 per car, and achieved sizes were as follows. Table 1 – Car (Brand) wise Composition of Sample NO Company Obtained number of samples 1 VW 39 2 Maruti 40 3 Hyundai 35 4 Tata 38 5 Mahindra 36DATA ANALYSIS & RESULTS : DATA ANALYSIS & RESULTS The statistical analyses used were ANOVA, Regression analysis, Factor analysis. Analysis of research data used the level of significance, a = 0.05. T he objective of this study was to examine customer perception of service quality. ANOVA was performed and the result showed a significant difference among the five car companies in India viz. VW, Maruti , Hyundai, Tata, MahindraTesting for Significance: F Test: Testing for Significance: F Test The F test is used to determine whether a significant relationship exists between the dependent variable and the set of all the independent variables . The F test is referred to as the test for overall significance .Testing for Significance: F Test: Testing for Significance: F Test Hypotheses H 0 : 1 = 2 = . . . = p = 0 H a : One or more of the parameters is not equal to zero. Rejection Rule Reject H 0 if F > F where F is based on an F distribution with p d.f . in the numerator and n - p - 1 d.f . in the denominator.PowerPoint Presentation: As adjusted square is 0.004, it implies that 0.4% of variance of the dependent variable is explained by independent variable. As R= 0.182, it explains a very weak correlation. H 0 : 1 = 2 = . . . = p = 0 H a : One or more of the parameters is not equal to zero. p = 0.285 p = .05 Since p > p we accept the null hypothesis and our model is not good.Testing for Significance: t Test: Testing for Significance: t Test Hypotheses H 0 : i = 0 H a : i = 0 Rejection Rule Reject H 0 if t < t or t > t where t is based on a t distribution with n - p - 1 degrees of freedom.PowerPoint Presentation: H 0 : i = 0 H a : i = 0 p = 0.000 p < .05 Since p < 0.05, we reject the null hypothesis.K.M.O Test : K.M.O Test If two variables share a common factor with other variables, their partial correlation ( aij ) will be small, indicating the unique variance they share . Used to measure sampling adequacy. This index is used to measure the appropriateness of the test . High values (.5 – 1) means factor analysis is adequate.Interpretation of the KMO as characterized by Kaiser, Meyer, and Olkin …: Interpretation of the KMO as characterized by Kaiser, Meyer, and Olkin … KMO Value Degree of Common Variance 0.90 to 1.00 Marvelous 0.80 to 0.89 Meritorious 0.70 to 0.79 Middling 0.60 to 0.69 Mediocre 0.50 to 0.59 Miserable 0.00 to 0.49 Don't FactorPowerPoint Presentation: Kaiser-Meyer- Olkin Measure of Sampling adequacy 0.524 Barlett’s Test of Sphericity Approx. Chi Square 79.957 df 28 Significance 0.0000 KMO and Bartlett’s Test Since the value of KMO is 0.524, therefore it implies that the degree of variance is very bad, in fact the variables do not factor with the other variables.Limitations: Limitations The findings of this study are limited to the behaviour of the consumer towards car in India. This study has not considered industry measures to measure service quality. We have measured only the customer perception of service quality.Conclusion: Conclusion Timing of orders & delivery bias towards weekends – Fridays for collection – Saturdays for order – supports dealer research Differences between men & women – females less willing to wait – reference growth in female motorists & change in relative influence & role • Information Sources – Dealer still critical • Friend, Brochure, Magazine – 4 different sources of information – growth of internet – now nearly 20% Research suggests that the consumer demand for a Car would be strongPowerPoint Presentation: THANK YOU NOW YOU PEOPLE CAN DRIVE OUT…….. You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.