STEEPLED Analysis

Group 1

Name Roll No.

Harshit Agrawal 003

Vipin Dagur 014

Ginni Gupta 026

Bramjot Johar 028

Shivam 054

Yuvraj Singh 057

 
·       Social
The social standing of both the time and opportunity were favorable, and Hero Honda
successfully penetrated all strata in t Also, the lack of four-wheeler-ready roads were all
factors that increased demand for two-wheelers. Also, the cost of ownership of a two-
wheeler was cheaper than that of an entry-level car and hence was used to transport
both people and goods and thereby substituting a car. This created a social impact and
brought about change.
·       Technological
Four-stroke engines were more efficient, less fuel consumption, long-lasting, and gave a
better milage than a two-stroke engine or a scooter. Also, the earlier benefits of owning
a scooter such as secure luggage space, the possibility of carrying two passengers, an
enclosed metallic body, and provision of a spare tire were all ruled out. Such proven
technologies provided ample reasons for an individual to purchase a bike, save on
money and be ahead of the already available motor tech available in the market.
·       Economic
Due to the booming economy in India, a car was a luxury m Moreover, better
technology is an indicator of economic development, thus Hero Honda's product was
produced. Further, the economic crash of 2008 proved to be a boon for Hero Honda as
their nearest rivals focused on high-end bikes while they focused on affordability.
·       Political
The restrictive government policies in the pre liberalization era prevented foreign
companies from making investments in India which was changed by the 1991 reforms,
 thus setting up the red carpet for Honda to make a mark in the Indian automobile
sector with Hero.
 
 
 
·       Legal
As a result of the license raj, the foreign company from investing in India however FIPB
regulations enabled the Hero to join hands with Honda, thus opening up the market
creating accessibility.
·       Environmental
India's top environmental concern, air pollution from industry and vehicle emissions,
had been one of the reasons why go While manufacturing the two-wheelers the Hero
took care of it very evidently. Four stroke engine of Hero Honda was less polluting than
two stroke ones. Hero Honda bike was fuel efficient and gave a better milage. In a
populated country like India, saving on fuel burn can have a great positive impact on
the environment.
·       Demographic
India could lay claim to a population of roughly 730 million in 1984, growing at a rate of
2.1% each year. At that rate of growth, the Indian population was projected to grow by
160 million people in the 1980s and to exceed 1 billion people by the year 2000. It was
also concluded that the adult age group with the highest propensity to purchase two-
wheelers was expected to increase to more than 500 million by 1990 and to an
approximate 700 million by 2006.