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Consumer Behavior Towards Chevrolet Optra

A Project Report On “Consumer Behavior Towards Chevrolet Optra”

(Phase 3 & 4)

Introduction:

GM's biggest success in India, the Optra has neatly filled the slot vacated by the Opel Astra in the entry-luxury segment. A handsome car brimming with showroom appeal, the Optra also has a competitive price tag and plenty of standard equipment to help it along. Plus, Chevrolet keeps bringing out special editions, which are even better value, so keeping an eye on this car is a good idea.:

Since Daewoo was taken over by GM, the Korean firm's products have started to be sold under various brand-names over the world, so the car that started out as the Daewoo Nubira is also variously called the Daewoo Lacetti, Buick Regal and here, the Chevrolet Optra. The fact that the Optra is a Korean car means it has been tailored to Asian needs, and so, is quite perfect for India. A smart stylish exterior, designed by Pininfarina, exquisitely detailed headlights, three-part grille and an attractive rear make the Optra the best looker in its class.

It is designed to fit in as a D segment car and shares the segment with Hundai Ellantra, Toyota Corolla, Hindustan Motors Lancer

Models Available:-

1.6 Elite

1.6 Elite LS

1.6 LT Royale

1.8 LT

1.8 LT AT

Engine Type:- Petrol 4 Cyl, 1.8L, 16V DOHC

Displacement: 1799cc

Power: 115bhp@5800rpm

Torque:158nm@4000rpm

Research Objectives

Objective:

  • To study Cognitive, Affective and Behavioral response towards LG refrigerators.
  • To study the satisfaction level existing among various factors

Research Methodology

Sample:

The number of sample respondents was 40 respondents

Data Collection:

The data was collected through the help of the questionnaires. The questionnaire was structured with close-ended questions to get better insight of the respondents.

Data collection Methodology:

A study was conducted in the main shopping centres in the NaviMumbai area like centre one, sector 17 of Vashi and Hira nandani in Kharghar. The sample was a non probability convenience sample as only Chevrolet Optra owners were administered this questionnaire.

Analysis Of the Research

1. Preference Of Attributes:

The first question that was asked to the respondents was to rate the attributes according to their preference on the scale of 1 to 5 with 1 being least preferred and 5 being most preferred.

Consumer Behavior img1

The maximum of the respondents preferred comfort, mileage, speed and inside space as the most important attributes which determine the buying behavior of the respondents. Thus it was found out that all the asked for attributes were important for the customers while buying a luxury sedan but comfort was the most prominent followed by Mileage and speed.

2. Influencers:

About 40 % of the respondents mentioned that they themselves were solely responsible for their purchase decision. 25% said that family members influenced their decision. Word of mouth again plays a stellar role in influencing a customer for these luxury and costly items. So friends here scored 28%. Advertisements also played a important role in the purchase making decision of a luxury cars. Advice of dealers was not accepted because of their selfish motives involved.

Consumer Behavior img2

3. Choice of Models:

The next question that was asked to the respondents was which Chevrolet Optra variant they preferred and the most preferred variant was the Royal followed by Elite and LT. No preference was shown for the Automatic version i.e LT AT

Consumer Behavior img3

4. Satisfaction Level:

The next question  was to rate their satisfaction level from the Optra  in terms of different terms or factors with 5 being very high and 1 being very low. Most of the customers ranked it the highest in terms of Advertising, and half of them approved its Value for money positioning. The other preferred features were Mileage and drive smoothness. The After sales services provided by the company were also satisfactory. The most disappointing feature was its Dealer network.

Consumer Behavior img4

5. Features Of Advertising:

The respondents were then asked to mention the features of advertisements which they found was most attractive. Most of the respondents found the presentation as very good, while the other three i.e information, Branding and Theme scored almost equal preference.

Consumer Behavior img5

6. Preference for Promotion:

Test drive came out as a single best contributor for promotion of the car.followed with exchange offers and others like travelogues etc. Also the gift vouchers as well as the lucky draw will be an effective way to promote the product.

Consumer Behavior img6

Limitations

  1. Sample that I had taken was convenience sample to a large extent, so it may not be the true representative of the actual population..
  2. The Sample size taken was not very large in numbers. I had taken a sample of 40 respondents.
  3. One of the general drawbacks could be the tendencies of the respondents to filter, amplify or hide the information.

Dear Respondent,

This survey is being conducted by PGDBM students of Institute for Technology and Management, Kharghar on study of “Consumer Behavior towards Chevrolet Optra”. The information provided by you will be used for the academic purposes only.

1) Please tell us the level of importance you attach to the following attributes while buying a luxury car. (5-Very important, 4-Important, 3-Somewhat important, 2-Not important, 1-Can’t Say)

Space Inside

Mileage

Comfort

Speed

Brand

Others (Please Specify)

2) Who contributed most to the purchase decision of your car?

Self

Friends

Dealers

Family Members

Advertisements

3) Please tell us which Chevrolet Optra variant are you using?

Elite

Royal

LT

LT AT

4) Please tick your preference for the following in terms of your satisfaction level for Chevrolet Optra ?

Very Poor

Very Good

Value For Money

1

2

3

4

5

Dealer network

1

2

3

4

5

Power and performance

1

2

3

4

5

Interiors

1

2

3

4

5

Mileage

1

2

3

4

5

Advertising

1

2

3

4

5

Features and aesthetics

1

2

3

4

5

Drive Smoothnes

1

2

3

4

5

After Sales Service

1

2

3

4

5

5) Please mention what is the best feature of Chevrolet optra advertisement?

Presentation

Theme

Information

Branding

Others(pls specify)

6) Which for you is the other preferable attributes and preferences for promotion?

Test drives

Coupons

Exchange offers

Others (Please Specify)

7) Income group you belong to (as per month)?

25001-40000

40001-60000

60001-75000

>75000

8) Age (in years):

25 or less

25-35

36 or more

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