A PROJECT REPORT ON

MARKET POTENTIAL AND BRAND AWARENESS OF

BAJAJ PULSAR TWO WHEELER IN SAGAR, MP
SUBMITTED AS A STP PROJECT WORK OF THE REQUIREMENTS
FOR THE FIRST SEMESTER OF

MASTER OF BUSINESS ADMINISTRATION

(MBA)

BY
PRANJAL YADAV
Roll. No.: Y23282026

UNDER THE SUPERVISION OF

DR. LOKESH UKE

Department of Business Management

Dr. Harisingh Gour Vishwavidyalaya
Sagar, Madhya Pradesh (India)
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 CERTIFICATE

This is to certify that Ms. Pranjal Yadav, a student of the Master of Business Administration
(MBA) first semester has completed her project entitled “A Study On Market Potential And
Brand Awareness Of Bajaj Pulsar Two Wheeler In Sagar, MP” under my guidance and
supervision.

To the best of my knowledge and belief, the work has been done independently by her under my
guidance and the data generated and conclusions drawn are original.

Throughout the duration of the project, she demonstrated dedication, analytical skills, and a
comprehensive understanding of market principles. I wish her all the best for all future
endeavors.

Date:
(DR. LOKESH UKE)
Supervisor

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 DECLARATION

I Pranjal Yadav hereby declare that the project entitled, “A Study on Market Potential

and Brand Awareness of Bajaj Pulsar Two-Wheeler in Sagar, MP” in fulfillment as a

project work of the requirements for first semester of master of business management

(MBA) which is submitted by me to the Department of Business Management, Dr.

Harisingh Gour University Sagar, Madhya Pradesh is a bonafide description of the

project work carried out by me. This is my original work and the results of my own

efforts.

Pranjal Yadav
MBA I Semester
(Y23282026)
Place:
Date:

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 ACKNOWLEDGEMENT

First and foremost, I thank God for His blessings and mercy. The blessings of God, the
almighty have helped me in completing my work with success.

I express my deep gratitude to my parents for their upbringing, educating me and

guiding me. The love and care of my parents have always been a motivating factor for
me. Their efforts and consistent support made me what I am today.

I mention my greatest thanks to my supervisor, Dr. Lokesh Uke, Dept. of Business

Management for his incredible support throughout the period of my study. I express my
deep gratitude for guiding me, motivating me and providing constructive criticism at
every stage of this project. The project would not have been so smooth without the
encouragement of my supervisor.

I wish to acknowledge the profound goodwill, and understanding of my close friend for
their constant support throughout my project work.

(Pranjal Yadav)

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 TABLE OF CONTENTS

Front Page ........................................................................................................1

Certificate .........................................................................................................2
Declaration .......................................................................................................3
Acknowledgement ...........................................................................................4
Table of Content .....................................................................................…….5

Chapter 1: Introduction .................................................................................. .6-15

Chapter 2: Review of Literature ................................................................ ...16-20
Chapter 3: Objectives and Significance of the Study ………………….......21-21
Chapter 4: Research Methodology ……………………………………...…...22-23
Chapter 5: Results and Discussion ...............................................................24-43
Chapter 6: Key Findings and Conclusion ....................................................44-45
Chapter 7: Limitations and Suggestions ........................................................46-47
References ......................................................................................................48-49
Annexure ........................................................................................................50-52

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 1. Introduction

In the dynamic landscape of the automotive industry, where innovation meets consumer
preferences, the two-wheeler segment has emerged as a key player in providing convenient and
efficient mobility solutions. Among the myriad of choices available to consumers, the Bajaj
Pulsar series has carved a distinct niche for itself. This dissertation embarks on a comprehensive
exploration of the market potential and brand awareness of the Bajaj Pulsar two-wheeler, delving
into the factors that contribute to its success and the challenges it encounters in a competitive
environment.
The Indian two-wheeler market has witnessed remarkable growth over the years, driven by
factors such as urbanization, increasing disposable income, and a burgeoning young population.
In this context, the Bajaj Pulsar series has become synonymous with performance, style, and
innovation. Bajaj Auto, a stalwart in the Indian automotive industry, introduced the Pulsar brand
in the early 2000s, and since then, it has evolved to become a symbol of power and agility on the
roads.
As the automotive landscape undergoes transformations, it is imperative to understand the
market potential of the Bajaj Pulsar series and the level of brand awareness it commands among
its target audience. This study aims to bridge the existing knowledge gap by providing insights
into the factors influencing the market dynamics and brand perception of Bajaj Pulsar.

Company's Profiles:

Bajaj Group is an Indian multinational conglomerate founded

by Jamnalal Bajaj in Mumbai in 1926. The group comprises 40
companies and its flagship company Bajaj Auto philosophy’s
ranked as the world's fourth largest two-and three-wheeler
manufacturer.
He strongly believed that, ‘common good was more important than individual gain’. His which
has stood the test of time, was successfully taken forward by his sons Mr. Kamalnayan Bajaj and

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Mr. Ramkrishna Bajaj and is now spearheaded by Mr. Rahul Bajaj. This has taken the group to
higher levels of success and respect.
The Group now stands tall in the Corporate World. The Group has a market capitalization of
about Rs. 8,55,000 crores (about US$ 105 billion) with 40 Group Companies and approximately
36,000 employees. It offers an extensive range of products and services including motorized two
and three wheelers, home appliances, electric lamps, wind energy, special alloys and stainless
steel, cranes, material handling equipment, travel, general and life insurance and investment,
consumer finance and asset management.
For society however, Bajaj is more than a corporate identity. It is a catalyst for social
empowerment. It is the reason behind the smile that lights up a million faces. Its goodwill
resonates in the two simple words that live in the collective consciousness of Indians – Hamara
Bajaj.

BAJAJ AUTO LTD.

Bajaj Auto Limited is an Indian multinational automotive manufacturing
company based in Pune. It manufactures motorcycles, scooters and auto
rickshaws. Bajaj Auto is a part of the Bajaj Group. It was founded by
Jamnalal Bajaj (1889–1942) in Rajasthan in the 1940s.
Bajaj Auto is the world's third-largest manufacturer of motorcycles and
the second-largest in India. It is the world's largest three-wheeler
manufacturer. In December 2020, Bajaj Auto crossed a market
capitalization of ₹1 trillion (US$13 billion), making it the world's most valuable two-wheeler
company.

Type : Public
Traded as : BSE: 532977
NSE: BAJAJ-AUTO
BSE SENSEX
Constituent
NSE NIFTY 50
Constituent

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ISIN : INE917I01010
Industry : Automotive
Founded : 29 November 1945; 78 years ago
Founder :Jamnalal Bajaj, Rogen Frias
Headquarters : Pune, Maharashtra, India
Areas Served : World side
Key People : Rajiv Bajaj (Chairman, MD & CEO)
Products: Motorcycles and three-wheeler vehicle
Production Output :Increase 6,330,000 units (2019)
Revenue : Increase ₹34,428 crore (US$4.3 billion) (FY2022)
Operating Income : Increase ₹7,072 crore (US$890 million) (FY2022)
Net Income : Increase ₹5,586 crore (US$700 million) (FY2022)
Total Assets : Increase ₹35,111 crore (US$4.4 billion) (FY2022)
Total Equity : Increase ₹29,859 crore (US$3.7 billion) (FY2022)
Number of Employees :10,000 (2019)
Parent : Bajaj Gyrogroup

History:
Bajaj Chetak built under license from PIAGGIO.
Bajaj Auto was established on 29 November 1945 as M/s Bachraj
Trading Corporation Private Limited. It initially imported and sold
two- and three-wheelers in India. In 1959, it obtained a license from
the Government of India to manufacture two-wheelers and three-
wheelers and obtained a license from Piaggio to manufacture Vespa scooters in India. It became
a public limited company in 1960.
With the launch of motorcycles in 1986, the company changed its branding from a scooter
manufacturer to a two-wheeler manufacturer.
In 1984, Bajaj Auto signed a technical assistance agreement with Kawasaki, cooperating to
expand production and sales of motorcycles in the local market.
In the early 2000s, Bajaj Auto bought a controlling stake in the Tempo Firodia Company,
renaming it "Bajaj Tempo". Germany's Daimler-Benz owned 16% of Bajaj Tempo, but Daimler

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sold their stake back to the Firodia group. It was agreed that Bajaj Tempo would gradually phase
out the use of the "Tempo" brand name, as it still belonged to Mercedes-Benz. The name of the
company was changed to Force Motors in 2005, dropping "Bajaj" as well as "Tempo", over the
objections of Bajaj Auto with whom the company shares a long history as well as a compound
wall.
In 2007, Bajaj Auto, through its Dutch subsidiary Bajaj Auto International Holding BV,
purchased a 14.5% stake of Austrian rival KTM,[12] gradually increasing its stake to a 48% non-
controlling share by 2020. In December 2020, Bajaj started discussions on swapping its stake
from KTM to KTM's controlling shareholder Pierre Mobility, a subsidiary of Pierre Industry.
On 26 May 2008, Bajaj Auto Limited was split off into three corporate entities — Bajaj Finserv
Limited (BFL), Bajaj Auto Ltd (BAL), and Bajaj Holdings and Investment Ltd (BHIL).
In 2017, Bajaj Auto and Triumph Motorcycles Ltd teamed up to build mid-capacity motorcycles.
In 2017, Bajaj and Kawasaki ended a sales and services partnership in India for the sale and
after-sales service of Kawasaki motorcycles, which had been established in 2009. The
partnership's dealerships were later converted into KTM ones. Bajaj and Kawasaki continue with
their relationship in overseas markets.
On 26 November 2019, Bajaj Auto invested about ₹57 crore ($8 million) in bicycle and electric
scooter rental startup Yulu.[18] In this deal, Bajaj would also manufacture customised electric
scooters for Yulu.

Manufacturing:
The company has plants in Chakan, Waluj in Aurangabad and Pant Nagar. The oldest plant at
Akurdi in Pune houses the R&D center 'Ahead'.

Products:

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Bajaj RE Autorickshaw in Jakarta , Indonesia
Bajaj manufactures and sells motorcycles, scooters, auto-rickshaws and cars. As of 2004, Bajaj
Auto was India's largest exporter of motorcycles.
Bajaj is the first Indian two-wheeler manufacturer to deliver 4-stroke commuter motorcycles
with sporty performance for the Indian market. Bajaj achieved this with the 150cc and 180cc
Pulsar.
Motorcycles produced by Bajaj include the CT 100 Platina, Discover, Pulsar, Avenger, and
Dominar. In FY 2012–13, it sold approximately 37.6 lakh (3.76 million) motorcycles which
accounted for 31% of the market share in India. Of these, approximately 24.6 lakh (2.46 million)
motorcycles (66%) were sold in India, and the remaining 34% were exported.

Auto rickshaw (three wheelers)

Bajaj is the world's largest manufacturer of auto rickshaws and accounts for almost 84% of
India's three-wheeler exports. During the FY 2012–13, it sold approx. 4,80,000 three-wheelers
which was 57% of the total market share in India. Out of these 4,80,000 three-wheelers, 47%
were sold in the country and 53% were exported. In Indonesia, Bajaj three-wheelers are
described as "iconic" and "ubiquitous" to the point that the word Bajaj (pronounced bajay is used
to refer to auto rickshaws of any kind.

Low Cost Cars

In 2010, Bajaj Auto announced cooperation with Renault and Nissan Motor to develop a
US$2,500 car, aiming at a fuel efficiency of 30 kilometers per liter (85 mpg‑imp; 71 mpg‑US)
(3.3 L/100 km), or twice an average small car, and carbon dioxide emissions of 100 g/km.
On 3 January 2012, Bajaj auto unveiled the Bajaj Qute (formerly Bajaj RE60), a mini car for
intra-city urban transportation, which is legally classified as a quadricycle. The target customer
group was Bajaj's three-wheeler customers. According to its Managing Director Rajiv Bajaj, the
RE60 powered by a new 200 cc rear mounted petrol engine will have a top speed of 70
kilometers per hour (43 mph), a mileage of 35 kilometers per liter (99 mpg‑imp; 82 mpg‑US)
and carbon dioxide emissions of 60 g/km.

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Electric Scooters
Bajaj launched its first electric scooter, the Chetak, in India in January 2020.In December 2021,
Bajaj announced an investment of ₹300 crore to build an electric vehicle production facility in
Pune. According to the company, the plant would be able to produce 500,000 electric vehicles
(EVs) each year, catering to both domestic and international markets.

Listing And Shareholding:

Listing
Bajaj Auto's equity shares are listed on Bombay Stock Exchange where it is a constituent of the
BSE SENSEX index, and the National Stock Exchange of India where it is a constituent of the
CNX Nifty.
Shareholding
On 31 December 2022, 54.98% of the equity shares of the company were owned by the
promoters Bajaj Group and the remaining were owned by others.

Shareholders (as of 31st December 2022) Shareholding %

Promoters: Bajaj Group 54.98%

Mutual funds, FIs, and insurance companies 09.73

Foreign institutional investors 11.82%

Individual shareholders 09.55%

Bodies corporate 04.35%

Foreign portfolio investments corporations 00.60%

GDRs NIL

100.0% 100.0%

100.0% 100.0%

As of 31 March 2020, there were 100 funds that had disclosed positions in the company,
including funds by The Vanguard Group, Dimensional Fund Advisors and Fidelity Investments.

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Employees:
Bajaj Auto had a total of 10,000 employees as of 2019, of which 51 were women (0.63%) and 25
were differently-abled (0.31%).It spent ₹650 crore (equivalent to ₹12 billion or US$150 million
in 2023) on employee benefit expenses during the FY 2012–13. The company was headed by
Rahul Bajaj until 2005 whose net worth was around US$2 billion in March 2013. Currently, his
son Rajiv Bajaj heads company.

Bajaj pulsar
The Bajaj Pulsar is an iconic Indian motorcycle. Since its inception, the Pulsar created a new
segment called ‘Sports Biking’ in Indian motorcycling and redefined motorcycle riding for the
Indian youth. Presently, the cutting-edge Bajaj Pulsar specifications are 125-250 cc engines,
front and rear disc brakes, nitrox-mono-shock suspension, tubeless tyres, among others. Today,
the Pulsar motorcycle is a perfect combination of style and performance. The Bajaj Pulsar
features projector headlamps, ABS, fuel-injection systems, and a DTS-i engine. Pulsar 250 &
Pulsar N160 are the latest addition to the Pulsar range.
The Bajaj Pulsar is a range of motorcycles manufactured by Bajaj Auto in India. It was
developed by the product engineering division of Bajaj Auto in association with Tokyo R&D,
and later with motorcycle designer Glynn Kerr. A variant of the bike, the Pulsar 200NS was
launched in 2012, but it was suspended for some time (reintroduced in early 2017 with BS IV
Emission compliance and renamed the NS200).With average monthly sales of around 86,000
units in 2011, Pulsar claimed a 2011 market share of 47% in its segment.[3] By April 2012, more
than five million units of Pulsar were sold. In 2018, they celebrated selling over ten million
Pulsars backed an exclusive TV commercial and a marquee ride to in 6 cities to write
"PULSAR" on a pre-defined route. The model is also sold as Rouser under other markets, such
as South America.
Before the introduction of the Pulsar, the Indian motorcycle market trend was towards fuel
efficient, small capacity motorcycles (that formed the 80–125 cc class). Bigger motorcycles with
higher capacity virtually did not exist (except for Royal Enfield Bullet with 350cc and 500cc
variants). The launch and success of Hero Honda CBZ in 1999 showed that there was demand
for performance bikes. Bajaj took the cue from there on and launched the Pulsar twins (150cc

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and 180cc) in India on 24 November 2001.[6] Since the introduction and success of Bajaj Pulsar,
Indian youth began expecting high power and other features from affordable motorcycles.
The project faced internal resistance, reservations by McKinsey & Company and doubts on its
effects on Bajaj's relation with Kawasaki. The project took approximately 36 months for
completion and cost Bajaj ₹ 1 billion.

Specifications:
Version Capacity Wheelbase Power Torque Top speed
(cc) (mm) (PS) (Nm) (km/h)

Pulsar 125 DTS-i 125 1320 11.64 10.8 116

Pulsar 135LS DTS-i 135 1325 13.5 11.4 112

Pulsar 150 DTS-i 150 1320 14.0 13.6 110

Pulsar 180 DTS-i 180 1350 17.3 15.1 118

Pulsar 200 DTS-i 200 1345 19 17.68 118

Pulsar 220 DTSi-F 220 1350 21 19 144

Pulsar 220Fi DTS-i 220 1350 21 19.12 141

Pulsar 220S DTS-i ] 220 1350 21.04 19.12 138

Pulsar 200 200 1363 24.5 18.7 138

NS/NS200

Pulsar N160 160 16 14.65 120

Pulsar 250F/N 250 24.5 21.5 142

Pulsar AS150 150 1363 17.0 13.0 110

Pulsar AS200 200 1363 23.5 18.3 138

Pulsar RS200 200 1355 24.5 18.7 140

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Market Potential of Bajaj Pulsar:

Two-wheeler maker Bajaj Auto expects the

growth momentum of its 125cc segment to
continue in the current financial year. In FY23,
the company reported growth of 20% in this
segment with average monthly sales of 52,439
units.
The main brand for the company in the 125 cc
segment is the Bajaj Pulsar, which was
launched in 2020. Its market share also
improved during the year by 300 basis points (bps) to 23.9%, the company said in its annual
report for FY23. Hero MotoCorp’s Glamour, Honda’s Shine and TVS Motors’ Victor are some
of the variants in this range, along with Yamaha and Suzuki.

Bajaj Auto also said in the report that although the sales volumes are higher in the 100cc
segment, the pricing pressure and rising input costs, it has made the decision to focus on the
125cc segment with an aim to improve its operational metrics.
At 9 lakh units in May-Jun, the 100cc segment commanded 26% share of total two-wheeler
sales, as per SIAM data followed by 125cc segment at 15%.

Overall domestic sales of the company witnessed a growth of 14% to 1 crore units in FY23,
although the sales volume has not surpassed pre-pandemic level of 1.4 crore units in 2019.
In the pro-biking and scooter segments, which are represented by KTM, Husqvarna and Chetak,
production was affected due to shortage of semiconductors in Q1FY23. Exports, too, contracted
by 27% in volume terms during FY23, mainly on account of economic problems in importing
nations such as Nigeria and Sri Lanka. Exports as a percentage of the company’s net sales were
41% in FY23.

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Brand Awareness of Bajaj Pulsar:

Bajaj Pulsar is a well-established and popular motorcycle brand in India, with a strong brand
awareness among Indian consumers. Here's a breakdown of its brand awareness:

Positive brand perception: Pulsar is generally associated with being a sporty, powerful, and
stylish motorcycle brand. It's often seen as a youthful brand, appealing to young riders who value
performance and looks. The brand also has a strong association with excitement, adventure, and
freedom.

High recall and recognition: Pulsar is one of the most recognizable motorcycle brands in India.
Its distinctive logo and design language are easily recalled by consumers. The brand also has a
long history in the Indian market, contributing to its high recall value.
Wide reach and distribution: Pulsar motorcycles are available through a wide network of
dealerships across India, making them easily accessible to consumers. This widespread
distribution network further strengthens the brand's awareness.

Marketing and advertising: Bajaj Auto has invested heavily in marketing and advertising the
Pulsar brand over the years. The brand has been associated with several high-profile marketing
campaigns, including sponsorships of cricket tournaments and celebrity endorsements. These
efforts have helped to create a strong brand image and increase awareness among consumers.
Social media presence: Pulsar has a strong social media presence with a large following on
platforms like Facebook, Instagram, and YouTube. The brand uses social media to engage with
its target audience, share product information, and promote its latest offerings. This online
presence further contributes to brand awareness.

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 2. Review of Literature

Gupta et al. (2018) offer valuable insights into the market potential of two-wheelers, providing a
comprehensive analysis of the factors influencing the growth and dynamics of this industry.
Their research highlights a strong correlation between rising income levels and increased
ownership of two-wheelers, emphasizing the affordability and cost-effectiveness of these
vehicles. This economic perspective provides a foundation for understanding how fluctuations in
income and economic conditions influence consumer choices and market dynamics. Gupta et al.
argue that two-wheelers become increasingly attractive in congested urban environments,
catering to the evolving needs of urban commuters. This urbanization lens adds depth to the
understanding of market potential beyond economic considerations. Gupta et al. (2018) also
explore consumer preferences and the role of product features in shaping the market potential of
two-wheelers. The research delves into how factors such as fuel efficiency, design, and
technological features impact consumer decisions. By identifying key attributes that resonate
with consumers, Gupta et al. contribute to the broader understanding of marketing strategies and
product development in the two-wheeler industry. Gupta et al.'s (2018) research significantly
contributes to the literature on the market potential of two-wheelers by offering a multi-
dimensional perspective. The economic, urbanization, consumer preference, and policy-related
insights provided by the study enrich our understanding of the dynamics that govern the two-
wheeler industry.

Raju's (2020) research places a significant emphasis on the impact of urbanization on the market
potential of two-wheelers. Raju's study provides valuable insights into how the increasing
urbanization trend contributes to the burgeoning demand for two-wheelers, emphasizing the
symbiotic relationship between urban development and the popularity of these vehicles. The
study highlights the critical role played by infrastructure development in shaping the market
potential of two-wheelers. As roads and transportation facilities improve, the accessibility and
convenience of two-wheelers as a mode of transport also increase. This research explores the
evolving preferences of consumers within the two-wheeler market. By analyzing factors such as
lifestyle choices, convenience, and cost-effectiveness, the study offers a comprehensive

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understanding of the nuanced elements that drive individuals to choose two-wheelers over
alternative modes of transportation. This study also delves into the rising importance of
environmental consciousness and sustainability in influencing consumer choices within the two-
wheeler market. As individuals become more environmentally aware, the demand for eco-
friendly and fuel-efficient two-wheelers has surged. Raju's exploration of this trend underscores
the growing significance of sustainability considerations in shaping market potential and the
industry's response to changing consumer expectations.

Choudhary and Gupta (2017), providing valuable insights into the intricate relationship
between consumer behavior and the purchase decisions related to two-wheelers. His work delves
into the psychological aspects that underpin consumer decision-making in the two-wheeler
market. The study investigates the intricate interplay of factors such as perception, motivation,
and attitude formation in shaping consumer preferences. By analyzing these psychological
dimensions, the research offers a nuanced understanding of how individuals perceive and
evaluate two-wheelers, ultimately influencing their purchase decisions. The role of brand
perception emerges as a pivotal theme in Choudhary and Gupta's research. The study delves into
how consumers perceive two-wheeler brands, emphasizing the significance of brand trust and
credibility in shaping purchase decisions. By examining the impact of brand image, reputation,
and communication strategies, the research provides insights into the factors that contribute to
the establishment of trust between consumers and two-wheeler brands, influencing the ultimate
purchase choice. Choudhary and Gupta explore the impact of product features on consumer
preferences within the two-wheeler market. The study investigates how attributes such as design,
performance, safety features, and technological innovations influence consumer choices. By
identifying the specific features that resonate with consumers, the research contributes to an
understanding of the aspects that drive product desirability and preference in the highly
competitive two-wheeler industry. The research also delves into the broader cultural and societal
influences shaping consumer behavior in the context of two-wheeler purchases. Choudhary and
Gupta analyze how cultural values, social norms, and lifestyle choices impact individuals'
decisions to opt for two-wheelers. This cultural lens adds a valuable dimension to the
understanding of consumer behavior, acknowledging the role of external factors in influencing
purchasing patterns.

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Kapoor and Gupta's (2022) study delves into the diverse marketing strategies employed by
two-wheeler manufacturers to enhance brand awareness. The research analyzes the effectiveness
of traditional and digital marketing channels, advertising campaigns, and promotional activities
in creating brand recall. Understanding the impact of these strategies is crucial for marketers
seeking to establish a robust brand presence in the competitive two-wheeler market. The research
explores the intricate relationship between consumer perception and brand image in the context
of two-wheelers. Kapoor and Gupta investigate how brand image, shaped by factors such as
product quality, design, and innovation, contributes to overall brand awareness. The study sheds
light on how positive consumer experiences and perceptions influence brand recall and the
likelihood of consumers considering a particular brand when making purchasing decisions. The
study investigates how online presence, engagement, and interactive content contribute to
heightened brand visibility. Insights into the effectiveness of digital strategies are particularly
relevant in the contemporary market, where online channels play a significant role in consumer
information and decision-making processes. The research by Kapoor and Gupta extends its focus
to the relationship between brand awareness and customer loyalty. By examining the factors that
contribute to brand loyalty and advocacy, the study provides insights into how a strong brand
presence influences long-term customer relationships. Understanding the elements that foster
loyalty is vital for sustaining brand awareness and market share over time.

Singh and Mishra's (2020) study offers an in-depth analysis of the strategic approaches adopted
by leading manufacturers in the two-wheeler industry. The research investigates how market
leaders craft and implement strategies to gain a competitive edge. Understanding the strategies
employed by industry giants provides a blueprint for emerging players and serves as a
benchmark for evaluating effective competitive approaches. Pricing strategies play a pivotal role
in shaping market dynamics within the two-wheeler sector. Singh and Mishra delve into the
impact of pricing decisions on market positioning, examining how manufacturers strategically
set prices to appeal to diverse consumer segments. The study emphasizes the significance of
product innovation and differentiation as key components of competitive strategies. Singh and
Mishra explore how manufacturers invest in research and development to introduce new
features, technologies, and design elements that set their products apart. The ability to innovate
and differentiate is identified as a crucial factor in establishing a unique market position and

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enhancing competitiveness. The study explores how manufacturers strategically design and
manage distribution networks to optimize product availability and visibility. Understanding the
implications of distribution strategies is essential for manufacturers seeking to expand their reach
and effectively compete in diverse markets. The research by Singh and Mishra underscores the
importance of building a unique brand identity as a strategic element in the two-wheeler
industry. By examining how successful brands cultivate distinct identities, the study provides
insights into the factors that contribute to brand recognition and loyalty. This understanding is
vital for manufacturers aiming to create enduring relationships with consumers in a highly
competitive market.

Sharma and Verma’s (2019) study explores the relationship between changing urbanization
patterns and the market potential of two-wheelers. As urban areas expand and commuting
patterns evolve, the demand for convenient and agile transportation options increases. Sharma
and Verma's research provides valuable insights into how the two-wheeler industry adapts to the
challenges and opportunities presented by urbanization, emphasizing the importance of
infrastructure development and accessibility in influencing market dynamics. Infrastructure
development emerges as a critical factor influencing the market potential of two-wheelers in
Sharma and Verma's research. The study delves into how well-developed road networks, parking
facilities, and transportation infrastructure contribute to the growth of the two-wheeler market.
Understanding the symbiotic relationship between infrastructure and market potential is pivotal
for policymakers and industry stakeholders seeking to create an environment conducive to
sustained growth. Sharma and Verma's research sheds light on the role of consumer preferences
and lifestyle choices in shaping the market potential of two-wheelers. The study explores how
factors such as design, fuel efficiency, and features impact consumer choices. By understanding
the evolving preferences and lifestyle trends, manufacturers can tailor their offerings to align
with consumer expectations, thereby influencing market potential.

Rajan and Menon's (2018) work delves into the intricate concept of brand positioning,
emphasizing its role as a cornerstone of marketing strategy. The research articulates how a well-
defined brand position sets the foundation for a company's identity in the market. By examining
the perceptual space a brand occupies in the minds of consumers, the study provides insights into

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the importance of differentiation and uniqueness in establishing a compelling brand position. The
paper sheds light on the crucial link between brand positioning and consumer perception. It
articulates how a brand's position shapes the way consumers perceive and interact with it. The
study discusses the psychological aspects of consumer behavior, emphasizing the influence of
brand positioning on consumer attitudes, preferences, and decision-making processes.
Understanding this dynamic is crucial for marketers aiming to create positive associations with
their brands. Rajan and Menon's research extends its focus to competitive strategies, recognizing
that brand positioning is inherently tied to a company's approach to competition. The study
explores various competitive strategies employed by companies to gain an advantage in the
market. By examining how companies position themselves vis-a-vis competitors, the research
provides a nuanced understanding of the strategic choices that influence market dynamics. The
study discusses how global market dynamics, cultural nuances, and regional variations impact
brand positioning strategies. This broader perspective is valuable for companies with
international aspirations or those navigating diverse markets

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 3. Objectives and Significance of the Study

Objectives of the Study:

The primary objectives of this project are:
 To analyze the market potential of Bajaj Pulsar two-wheelers in the market of Sagar
District MP.
 To assess the level of brand awareness among the target audience for Bajaj Pulsar.
 To identify the key factors contributing to the success of Bajaj Pulsar in the two-wheeler
segment.
 To evaluate the challenges and opportunities faced by Bajaj Pulsar in the competitive
market.

Scope and Significance:

The scope of this study encompasses an in-depth analysis of the market potential and brand
awareness of Bajaj Pulsar across different demographic segments of Sagar MP. It will cover
factors such as consumer preferences, purchasing behavior, and the impact of marketing
strategies on brand perception. The findings of this research are expected to be valuable not only
for academics and researchers but also for industry practitioners, marketing professionals, and
policymakers.

21 | P a g e
 4. Research Methodology

Research methodology is the systematic and objective research for an analysis of information
relevant to the identification and solution of any problem in the field marketing. A research
design is the arrangement of conditions for collection and analysis of data in a manner that aims
to combine relevant to the research purpose with economy in procedure. The central part of the
research activity is to develop an effective research strategy or design

Sample:
Sample Size – 50
Sampling Method – Convenience sampling
The sample consisted of a population of 50 respondents belonging to the urban, suburban and
rural part of Sagar district of India having age group of 18 – 65 years. The sample selected was a
convenience sample, wherein the researcher sent out questionnaires to familiar people who were
known to own and use Bajaj Pulsar bike. Details of the demographics as well as ownership have
been depicted in the results and discussion part through bar charts and pie charts.

Data collection tool: Structured, non-disguised questionnaire.

Design of Study: The respondents were initially asked whether they owned a Bajaj pulsar bike
or planning to buy in recent future, following which those people who answered in the
affirmative were asked to complete the given questionnaire not necessarily in the presence of the
researcher. Data was collected using a structured, non-disguised questionnaire as a survey tool.
The questionnaire contained all close ended questions in order to obtain objective data as
responses. The questionnaire was not divided into sections, but contained a flow of questions to
enable ease of filling.

Research Type: In the following research I have used descriptive research method to understand
the brand awareness and market potential of Bajaj Pulsar in Sagar region.

22 | P a g e
Data Analysis:
Simple analysis method is followed for analyzing the data pertaining to different dimension of
consumers. Simple statistical data like percentage are used in the interpretation of data pertaining
to the study. The results are illustrated by means of bar charts and pie charts.

Limitation of the Study:

 This study has conducted only Sagar district of Madhya Pradesh, which may limit the
generalization of findings to a broader national or international context.
 During the response there may be high interference from friends and relatives of the
respondent. This to some extent may cause the response to their opinion instead of the
respondent‘s opinion. Thus there is a compromise in the validity of the response.
 The study might be limited by the sample size, and the findings may not be entirely
representative of the entire population.
 The effectiveness of the research instrument, such as the survey questionnaire, could be a
limitation. Respondents might interpret questions differently, leading to variations in
responses.
 The study heavily relies on self-reported data from respondents, which may introduce
bias. Respondents might provide socially desirable answers or inaccurately recall their
perceptions and experiences.

23 | P a g e
 5. Results and Discussion

The result and discussion section of the project is crucial for presenting and interpreting the
findings of our study. In the case of "A Study on Market Potential and Brand Awareness of Bajaj
Pulsar Two Wheeler," this section would involve a thorough analysis of the data collected during
the research.
The study aimed to assess the market potential of Bajaj Pulsar two-wheelers by examining
various factors influencing consumer preferences and purchasing decisions.

Demographics of the Study:

Gender Location

24% 22% Rural part of Sagar

Sub-urban part of
Sagar
58% 20%
76% Urban part of
Sagar

Female Male

Figure 1 & 2

The data in figure 1 presents the distribution of respondents based on their gender in the study.
The majority of respondents (76% individuals) are male, while the female representation is
comparatively lower, with 24% respondents. This gender distribution provides an understanding
of the composition of the study sample.
The data in figure 2 represents the distribution of respondents based on their location in the study
area, Sagar. The majority of respondents (58% individuals) are located in the urban part of Sagar,
indicating a higher concentration of participants in urban areas compared to rural and sub-urban
areas. The rural area has the second-highest representation with 22% respondents, while the sub-
urban part has the lowest representation with 20% respondents.

24 | P a g e
 Marital Status Age Group
4%
18-25 yrs
8%
34% 26-35 yrs
18% 36-45 yrs
52%
66% 46-55 yrs
18%
56 yrs and above
Married Single

Figure 3 & 4

In Figure 3, the data presents the distribution of respondents based on their marital status. The
sample consists of 50 individuals, and they are categorized into two groups: Married and Single.
This breakdown provides insight into the marital status of the participants in our study. It
indicates that a majority of the respondents are single, constituting 66% of the total sample,
while the married participants make up the remaining 34%.

The data present in Figure 4 is the distribution of respondents across different age groups in the
study. The age groups are categorized as follows:
1. 18-25 yrs.: This category comprises 52% of respondents, indicating a significant
presence of individuals in the younger age bracket.
2. 26-35 yrs.: There are 18% respondents falling within the age range of 26 to 35 years.
This group represents a portion of the working-age population.
3. 36-45 yrs.: Another 18% respondents fall within the 36 to 45 years age group, reflecting
a consistent distribution in the middle-age category.
4. 46-55 yrs.: This category includes 8% respondents, indicating a smaller representation of
individuals in the 46 to 55 years age range.
5. 56 yrs. and above: The age group of 56 years and above has 4% respondents,
representing a smaller but notable portion of the older demographic.

25 | P a g e
 Occupation Monthly Income
₹10,001 -
₹20,000
16%
Employed ₹20,001 -
30% 26%
44% ₹30,000
Self- 16% ₹30,001 -
employed ₹40,000
Student 26% Above ₹40,000
26% 16%

Below ₹10,000

Figure 5 & 6

In Figure 5, the data represents the distribution of respondents based on their occupation. The
study includes three main categories: Employed, Self-employed, and Students. The data indicates
that 30% respondents fall into the category of employed individuals. There are 26% respondents
who fall into the self-employed category. The largest category in the dataset is students, with
44% respondents falling into this group. This signifies a significant representation of the student
population within the study.

In Figure 6, the data illustrates the distribution of respondents according to their monthly income
categories. The respondents were categorized into different income brackets, and the counts
within each category are as follows:
1. ₹10,001 - ₹20,000: 16% respondents
2. ₹20,001 - ₹30,000: 16% respondents
3. ₹30,001 - ₹40,000: 16% respondents
4. Above ₹40,000: 26% respondents
5. Below ₹10,000: 26% respondents

26 | P a g e
 How long have you owned your Bajaj two-wheeler
or planning to buy in future?
35%

30%

25%

20%

15%

10%

5%

0%
Planning to buy in
1 to 2 years 2 to 5 years Less than 1 year More than 5 years
the future
Total 18% 20% 10% 20% 32%

Figure 7

The provided data represents the distribution of respondents based on the duration of ownership
or their intention to purchase a Bajaj two-wheeler in the future. Here is the interpretation:
 18% of the respondents have owned their Bajaj two-wheeler for a duration ranging from
1 to 2 years.
 20% of the respondents have owned their Bajaj two-wheeler for a duration ranging from
2 to 5 years.
 10% of the respondents have owned their Bajaj two-wheeler for less than 1 year.
 20% of the respondents have owned their Bajaj two-wheeler for more than 5 years.
 32% of the respondents are planning to purchase a Bajaj two-wheeler in the future.

 The majority of respondents fall into the category of planning to buy in the future,
indicating potential growth or interest in acquiring a Bajaj two-wheeler.
 A substantial portion has owned their two-wheelers for various durations, with a notable
percentage having owned them for 2 to 5 years.

27 | P a g e
 How did you first hear about Bajaj Pulsar Two-Wheeler?

Television 20%

Online advertisements 14%

Newspapers/magazines 18%

Friends or family 34%

Dealership visit 14%

Figure 8

The data in Figure 8 represents the various channels through which respondents first learned
about Bajaj Pulsar Two-Wheeler. Here's a breakdown of the findings:
 A notable portion of respondents, 14%, discovered Bajaj Pulsar Two-Wheeler through a
physical visit to dealerships.
 The highest percentage of respondents, comprising 34%, learned about Bajaj Pulsar Two-
Wheeler through recommendations from friends or family. This highlights the substantial
influence of word-of-mouth marketing and the positive impact of satisfied customers
sharing their experiences.
 A noteworthy 18% of respondents reported that they first heard about Bajaj Pulsar Two-
Wheeler through traditional print media such as newspapers and magazines.
 Approximately 14% of respondents were introduced to Bajaj Pulsar Two-Wheeler
through online advertisements.
 The data reveals that 20% of respondents were informed about Bajaj Pulsar Two-Wheeler
through television advertisements.
The significant influence of recommendations from friends or family highlights the
importance of building a positive brand image to encourage organic referrals. Additionally,
the combination of traditional and digital marketing channels demonstrates a well-rounded
approach to reaching a varied audience.

28 | P a g e
 What influenced your decision to choose or consider a Bajaj
Pulsar Two-Wheeler?
60%

50%

40%
Axis Title

30%

20%

10%

0%
Brand reputation Fuel efficiency Performance Price Stylish design
Level 1 4% 16% 2% 14% 12%
Level 2 14% 16% 12% 26% 36%
Level 3 34% 34% 34% 28% 26%
Level 4 48% 34% 52% 32% 26%

Figure 9
The data represents the responses of individuals regarding the factors influencing their decision
to choose or consider a Bajaj Pulsar Two-Wheeler, categorized into different levels, where Level
1 indicates less influence, and Level 4 indicates more influence.

Brand Reputation:
 Level 1 (Less Influence): 4%
 Level 2: 14%
 Level 3: 34%
 Level 4 (More Influence): 48%
The data indicates that a significant portion of respondents found brand reputation to be highly
influential in their decision-making process, with 48% attributing a high level of influence (Level
4).

Fuel Efficiency:
 Level 1 (Less Influence): 16%
 Level 2: 16%
 Level 3: 34%
 Level 4 (More Influence): 34%

29 | P a g e
Fuel efficiency is considered as a moderately influential factor, with 34% of respondents
attributing a high level of influence (Level 4).

Performance:
 Level 1 (Less Influence): 2%
 Level 2: 12%
 Level 3: 34%
 Level 4 (More Influence): 52%
Performance emerges as a highly influential factor, with 52% of respondents attributing a high
level of influence (Level 4).

Price:
 Level 1 (Less Influence): 14%
 Level 2: 26%
 Level 3: 28%
 Level 4 (More Influence): 32%
Price is moderately influential, with a relatively even distribution across the levels, and 32%
attributing a high level of influence (Level 4).

Stylish Design:
 Level 1 (Less Influence): 12%
 Level 2: 36%
 Level 3: 26%
 Level 4 (More Influence): 26%
Stylish design is considered moderately influential, with 36% attributing a high level of influence
(Level 2).

In summary, brand reputation, performance, and fuel efficiency emerge as highly influential
factors in the decision-making process, while price and stylish design are moderately influential.

30 | P a g e
 How important are the following factors in your decision to
purchase a Bajaj Pulsar Two-Wheeler?
30%

25%

20%
Axis Title

15%

10%

5%

0%
Brand
Fuel efficiency Performance Stylish design Price
reputation
Level 1 8% 1% 6% 2% 7%
Level 2 8% 6% 18% 7% 13%
Level 3 17% 17% 13% 17% 14%
Level 4 17% 26% 13% 24% 16%

Figure 10

The data represents respondents' perceptions of the importance of various factors in their
decision to purchase a Bajaj Pulsar Two-Wheeler, with levels ranging from 1 (less important) to
4 (more important).
Fuel Efficiency:
 Level 1 (Less Important): 8%
 Level 2: 8%
 Level 3: 17%
 Level 4 (More Important): 17%
The data suggests that a notable percentage of respondents consider fuel efficiency as an
increasingly important factor, with the highest concentration at Level 3 and Level 4.
Performance:
 Level 1 (Less Important): 1%
 Level 2: 6%
 Level 3: 17%
 Level 4 (More Important): 26%

31 | P a g e
Performance emerges as a significant factor, with a substantial increase in importance as
respondents move from Level 1 to Level 4. The data indicates that a considerable portion of
respondents values high performance in their decision-making.
Stylish Design:
 Level 1 (Less Important): 6%
 Level 2: 18%
 Level 3: 13%
 Level 4 (More Important): 13%
Respondents express a diverse range of opinions on the importance of stylish design, with a peak
at Level 2. While some find it crucial (Level 4), others consider it less important (Level 1).
Brand Reputation:
 Level 1 (Less Important): 2%
 Level 2: 7%
 Level 3: 17%
 Level 4 (More Important): 24%
Brand reputation appears to be a significant influencing factor for many respondents, with a
considerable increase in importance at Level 4.
Price:
 Level 1 (Less Important): 7%
 Level 2: 13%
 Level 3: 14%
 Level 4 (More Important): 16%
The data suggests a relatively balanced distribution of responses regarding the importance of
price, with Level 2 having the highest concentration.

32 | P a g e
 How aware are you of the features and specifications of Bajaj
Pulsar Two-Wheeler?
1 2 3 4 5

34%

22% 22%

14%
8%

Total

Figure 11

The data represents respondents' awareness levels regarding the features and specifications of
Bajaj Pulsar Two-Wheeler, measured on a scale of 1 to 5 (1 being not aware at all, and 5 being
very aware).
 8% A of respondents indicated that they have minimal or no awareness of the
features and specifications of Bajaj Pulsar Two-Wheeler.
 22% of respondents falls into Level 2, suggesting a moderate level of awareness.
While not completely unaware, they may have limited knowledge of the product
features.
 The majority of respondents, accounting for 34%, are positioned at Level 3,
indicating a relatively high level of awareness. These respondents seem to have a
good understanding of the features and specifications of the Bajaj Pulsar Two-
Wheeler.
 22%, have a very high awareness level, as they fall into Level 4. This group is
likely to possess detailed knowledge about the features and specifications of the
product.
 14%, are positioned at Level 5, representing a very high awareness level. These
individuals are likely to be well-informed and highly familiar with the features
and specifications of Bajaj Pulsar Two-Wheeler.

33 | P a g e
 Opinion with Bajaj two wheeler
60%

50%

40%
Axis Title

30%

20%

10%

0%
Bajaj
Dealer Gives
Pulsar has Has low Has Bajaj
Gives good Has low provide warranty
stylish and maintenan affordable Pulsar is
mileage weight better on two
stunning ce price powerful
service wheeler
in look
Level 1 54% 12% 12% 16% 32% 14% 26% 32%
Level 2 18% 30% 20% 34% 22% 20% 38% 30%
Level 3 14% 30% 54% 32% 30% 48% 26% 24%
Level 4 8% 26% 12% 14% 10% 16% 6% 10%
Level 5 6% 2% 2% 4% 6% 2% 4% 4%

Figure 12
The data in Figure 12 reflects respondents' opinions on various attributes related to Bajaj two-
wheelers, categorized into different levels ranging from Level 1 (least favorable) to Level 5
(most favorable).

Bajaj Pulsar has stylish and stunning looks:

54% (Level 1): A majority of respondents expressed a strong opinion that Bajaj Pulsar has
stylish and stunning looks.
18% (Level 2), 14% (Level 3), 8% (Level 4), 6% (Level 5): The distribution shows a
decreasing trend, with fewer respondents perceiving the bike as stylish at higher levels.
Gives good mileage:
12% (Level 1): A small percentage of respondents have a less favorable opinion regarding the
mileage.
30% (Level 2), 30% (Level 3), 26% (Level 4), 2% (Level 5): A significant portion of
respondents perceive the bike as providing good mileage, with a decrease in the higher levels.

34 | P a g e
Has low maintenance:
12% (Level 1): A minority of respondents have a less favorable opinion about the maintenance
of Bajaj two-wheelers.
20% (Level 2), 54% (Level 3), 12% (Level 4), 2% (Level 5): The majority view is that the
bikes have low maintenance, especially at Level 3.
Has affordable price:
16% (Level 1): A small percentage of respondents find Bajaj two-wheelers to have a less
affordable price.
34% (Level 2), 32% (Level 3), 14% (Level 4), 4% (Level 5): A significant portion perceives
the bikes as having an affordable price, with a decrease in the higher levels.
Bajaj Pulsar is powerful:
32% (Level 1): A substantial percentage of respondents do not find Bajaj Pulsar to be powerful.
22% (Level 2), 30% (Level 3), 10% (Level 4), 6% (Level 5): The majority opinion is
favorable, with a significant number perceiving the bike as powerful.
Has low weight:
14% (Level 1): A minority of respondents have a less favorable opinion about the weight of
Bajaj two-wheelers.
20% (Level 2), 48% (Level 3), 16% (Level 4), 2% (Level 5): The majority view is that the
bikes have low weight, especially at Level 3.
Dealer provides better service:
26% (Level 1): A notable percentage of respondents have a less favorable opinion about the
dealer service.
38% (Level 2), 26% (Level 3), 6% (Level 4), 4% (Level 5): The majority view is positive,
with a significant number perceiving the dealer service as better.
Gives warranty on two-wheeler:
32% (Level 1): A substantial percentage of respondents do not find the warranty provision
favorable.
30% (Level 2), 24% (Level 3), 10% (Level 4), 4% (Level 5): The majority view is positive,
with a significant number expecting a warranty on the two-wheeler.

35 | P a g e
 Have you ever attended any promotional events or test
rides organized by Bajaj for the Pulsar series in Sagar

26%
No
Yes

74%

Figure 13

The data suggests that a large portion of individuals (74%) in Sagar have not participated in
promotional events or test rides organized by Bajaj for the Pulsar series. This may indicate either
a lack of awareness or interest among the majority. On the other hand, the 26% who have
attended such events represent a noteworthy portion of the population that actively engages with
Bajaj's promotional activities.

How satisfied are you with the customer service provided

by Bajaj for your Pulsar Two-Wheeler?
Total

40%

24% 22%

6% 8%

1 2 3 4 5

Figure 14

36 | P a g e
The provided data in Figure 14 represents respondents' satisfaction levels with the customer
service provided by Bajaj for their Pulsar Two-Wheeler, rated on a scale of 1 to 5 (1 being
extremely dissatisfied, 5 being extremely satisfied).
 6%: A small percentage of respondents expressed extreme dissatisfaction with
the customer service, indicating specific areas of concern or dissatisfaction.
 8%: Another small percentage of respondents rated their satisfaction at level 2,
suggesting dissatisfaction but perhaps not as severe as those at level 1.
 24%: A significant portion of respondents falls in the neutral category, indicating
neither satisfaction nor dissatisfaction. This group may have a neutral opinion
about the customer service received.
 40%: The majority of respondents are satisfied with the customer service
provided by Bajaj for their Pulsar Two-Wheeler, suggesting that a substantial
number of customers find the service to be satisfactory.
 22%: A notable percentage of respondents expressed extreme satisfaction with
the customer service, indicating a high level of contentment and positive
experiences with the services provided.

How likely are you to How likely are you to

recommend Bajaj Pulsar purchase another Bajaj
Two-Wheeler to others Two-Wheeler in the future ?
based on your experience
or perception ? 2%

Likely
14% 24% 26%
Neutral
Likely
8% 32% Unlikely
Neutral
12% Very likely
Unlikely
Very unlikely
Very likely 36%
46%

Figure 15 & 16

37 | P a g e
In Figure 15, the provided data represents respondents' likelihood to recommend Bajaj Pulsar
Two-Wheeler to others based on their experience or perception, categorized into different
response options.
32% fall into the "Likely" category, indicating a positive inclination toward recommending Bajaj
Pulsar to others.
The majority of respondents (46%) chose the "Neutral" option. This suggests a balanced or
indifferent stance regarding recommending Bajaj Pulsar to others.
8% fall into the "Unlikely" category, indicating a negative inclination toward recommending
Bajaj Pulsar to others.
14% fall into the "Very Likely" category, signifying a highly positive inclination toward
recommending Bajaj Pulsar to others.

In Figure 16, the provided data pertains to respondents' likelihood of purchasing another Bajaj
Two-Wheeler in the future based on their experiences with Bajaj Pulsar. The responses are
categorized into different levels, including "Likely," "Neutral," "Unlikely," "Very Likely," and
"Very Unlikely." Here's an interpretation of the data:
26% expressed a positive inclination towards purchasing another Bajaj Two-Wheeler in the
future. This suggests that a significant portion of the respondents is open to considering Bajaj for
their future two-wheeler needs.
The largest segment of respondents, comprising 36%, falls into the "Neutral" category.
A comparatively smaller portion of respondents, constituting 12%, expressed a negative
inclination towards purchasing another Bajaj Two-Wheeler in the future.
24% demonstrated a highly positive inclination, stating that they are "Very Likely" to purchase
another Bajaj Two-Wheeler in the future.
A very small percentage of respondents (2%) fall into the "Very Unlikely" category.

38 | P a g e
Count of What came to your mind when you first heard about our brand?
Row Labels Response
Advance Technology 4%
Fuel Efficient 10%
Powerful Performance 10%
Powerful Performance, Advance Technology, Safety 4%
Powerful Performance, Fuel Efficient 6%
Powerful Performance, Fuel Efficient, Safety 2%
Powerful Performance, Safety 6%
Stylish Design 12%
Stylish Design, Fuel Efficient, Safety 2%
Stylish Design, Powerful Performance 16%
Stylish Design, Powerful Performance, Advance Technology 4%
Stylish Design, Powerful Performance, Fuel Efficient 6%
Stylish Design, Powerful Performance, Fuel Efficient, Advance Technology 4%
Stylish Design, Powerful Performance, Fuel Efficient, Advance Technology, Safety 6%
Stylish Design, Powerful Performance, Fuel Efficient, Safety 4%
Stylish Design, Powerful Performance, Safety 4%
Grand Total 100%

The data represents respondents' associations and perceptions when they first heard about the
brand. The responses are categorized into various themes, and the percentages indicate the
proportion of respondents who associated the brand with each theme.

39 | P a g e
 how satisfied are you with your How much do you feel a sense
experience with Bajaj Pulsar of brand loyalty towards Bajaj
Two-Wheeler? Pulsar?
1 2 3 4 5 1 2 3 4 5

6% 6%
18% 18% 8%
20%

28% 34%
34%
28%

Figure 17 & 18

In Figure 17, the provided data represents respondents' satisfaction levels with their experience
with Bajaj Pulsar Two-Wheeler, as measured on a scale from 1 to 5, where 1 corresponds to
"extremely dissatisfied" and 5 corresponds to "extremely satisfied."
The interpretation of the data is as follows:
6% of respondents expressed extreme dissatisfaction with their experience with Bajaj Pulsar.
20% of respondents, but still a minority, indicated dissatisfaction with their experience.
28%, the largest proportion of respondents fell into the neutral category, indicating neither
satisfaction nor dissatisfaction with their experience.
28% of respondents reported satisfaction with their experience, reflecting a significant positive
sentiment.
18% of respondents expressed extreme satisfaction with their experience with Bajaj Pulsar Two-
Wheeler.

In Figure 18, the provided data represents respondents' responses to the question about the level
of brand loyalty they feel towards Bajaj Pulsar, rated on a scale of 1 to 5, where 1 indicates "not
at all" and 5 indicates "extremely."
Here's an interpretation of the data:

40 | P a g e
6% of respondents expressed the lowest level of brand loyalty, indicating that they feel "not at
all" loyal to Bajaj Pulsar.
8% of respondents rated their brand loyalty as 2, suggesting a relatively low level of loyalty.
The highest percentage of respondents, at 34%, indicated a moderate level of brand loyalty
(rating 3).
An equal percentage of respondents, 34%, rated their brand loyalty as 4, indicating a relatively
high level of loyalty.
The lowest percentage of respondents, at 18%, expressed the highest level of brand loyalty,
indicating that they feel "extremely" loyal to Bajaj Pulsar.

Secondary Data for Market Potential:

METRIC VALUE (in Units)
December 2023 Sales (all segments) 106,734

FY2023 Sales Growth 33%

FY2023 Pulsar 125cc Sales 629,268

(52,439 units sold on average per month)
Pulsar 125cc Market Share 23.9%

FY2023 Pulsar 150cc+ Sales 492,024

(41,002 units sold on average per month)
Pulsar 150cc+ Market Share 21.4%

Source:-
https://www.bajajauto.com/
Bajaj Sales Breakup December 2023 - Pulsar, Chetak, Boxer, Avenger
https://www.rushlane.com/amp/bajaj-sales-breakup-december-2023-pulsar-chetak-boxer-
avenger-12486994.html

41 | P a g e
 Value Percentage
700,000 35%
600,000 30%
500,000 25%
400,000
20%
300,000
15%
200,000
100,000 10%
0 5%
December 2023 FY2023 Pulsar FY2023 Pulsar 0%
Sales (all 125cc Sales 150cc+ Sales FY2023 Sales Pulsar 125cc Pulsar 150cc+
segments) Growth Market Share Market Share

Figure 19 & 20

Interpretation of Domestic Two-Wheeler Industry Sales Data (2019-2023):

1. Industry Trends:
 Sales Volume (nos.): The domestic two-wheeler industry witnessed fluctuations in sales
volume over the five-year period. Starting at 13.6 million units in 2019, there was a
significant decline in 2020, followed by a recovery in subsequent years, reaching 10.2
million units in 2023.
 Sales Growth (%): Industry growth rates displayed a notable pattern, with a decline of
17.5% in 2020, attributed to various external factors. Subsequently, the industry
rebounded, experiencing positive growth rates, culminating in a robust 13.9% growth in
2023.
2. Bajaj Auto Limited's (BAL) Performance:
 BAL’s Domestic Sales Volume: Bajaj Auto Limited's domestic sales mirrored industry
trends, initially decreasing in 2020 but gradually recovering. BAL's sales volume stood at
1.77 million units in 2023.
 BAL’s Domestic Sales Growth (%): BAL's sales growth rates, although impacted in
2020 (-18.2%), showcased resilience in the following years, with positive growth rates,
reaching 8.4% in 2023.
 Market Share (%): BAL's market share experienced fluctuations, dropping slightly in
2021 but recovering to 17.3% in 2023. Despite challenges, BAL maintained a substantial
market presence.

42 | P a g e
3. Key Observations:
 Industry Contraction (2020): The sharp decline in industry sales in 2020 was likely
influenced by external factors such as economic uncertainties, impacting consumer
purchasing behavior.
 Recovery and Growth (2021-2023): The industry and BAL rebounded, indicating
resilience and adaptability. Positive growth rates from 2021 to 2023 suggest a revival in
demand and consumer confidence.
 BAL's Market Share Dynamics: BAL's market share fluctuations indicate competitive
challenges and responses. Despite temporary setbacks, the company managed to
strengthen its market position.

125cc segment: This segment recorded a double-digit growth in the domestic motorcycle
market. Bajaj Auto is represented here by the Pulsar 125.
 In FY2023, this segment grew by 20%.
 Bajaj Auto’s sales in this segment grew 38%, market share improved by 300 bps to
23.9%.
 Having introduced this sleek model in FY2020, it sold an average of 52,439 units per
month through FY2023. We look forward to such impressive growth of the Pulsar 125 in
FY2024 also.

150cc and above segment: This segment is the fastest growing and represents 22% of the
domestic motorcycle market. Bajaj Auto is represented here by the Pulsar, Avenger, Dominar,
KTM and Husqvarna brands.
 In FY2023, this segment grew by 27%.
 Bajaj Auto’s sales was an average of 41,002 units per month, with market share of
21.4%.

Irrespective of the market segments, Bajaj Auto is firmly entrenched in the domestic motorcycle
market with the brand — Pulsar. For instance, Pulsar 125 is a much sought after bike. It is also
worth noting that in FY2023, the Pulsar’s, as a brand, grew by 33% and sold over 1 million units
annually in the domestic motorcycle market.

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 6.Key Findings & Conclusion
Market Potential:
1. In Dec 2023 Bajaj Pulsar Recorded the Sales of 106,734 units including all the segments
of Pulsar.
2. Pulsar sales grew by 33% in FY2023, exceeding 1 million units annually.
3. Pulsar 125cc, launched in FY2020, achieved impressive growth, averaging 52,439 units
per month through FY2023, Pulsar brand enjoys strong brand loyalty and positive
customer perception. Pulsar 125 captured a 23.9% market share in this segment.
4. Pulsar 150cc and above grew by 27% in FY2023, Bajaj Auto's sales averaged 41,002
units per month in this segment, with a 21.4% market share.

Brand Awareness:
 High awareness among young audience: 74% of respondents are aged 18-45, indicating
strong brand awareness within the target audience.
 Word-of-mouth plays a crucial role: 34% discovered Bajaj Pulsar through
recommendations, highlighting the importance of positive customer experiences.
 Traditional media still holds value: 18% learned about Bajaj Pulsar through print media,
suggesting a multi-channel approach is needed.

Key Success Factors:

 Strong brand image: Positive brand reputation and word-of-mouth recommendations
contribute significantly to success.
 Focus on performance: Catering to the performance-oriented segment with powerful and
stylish bikes is a strength.
 Balanced pricing: 32% find the price affordable, suggesting a competitive pricing
strategy attracts buyers.

Challenges:
1. Brand Reputation: While brand reputation emerged as highly influential in the decision-
making process (48% at Level 4), there is still a portion of respondents (4%) who find it
less influential (Level 1). Addressing concerns and improving brand perception may be a
challenge.

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 2. Awareness and Engagement: A significant percentage of respondents (74%) have not
participated in promotional events, indicating a challenge in creating awareness and
engaging potential customers effectively.
3. Satisfaction Levels: A notable 28% of respondents fell into the neutral category regarding
their satisfaction with Bajaj Pulsar, suggesting room for improvement in customer
experience to enhance brand loyalty.

Opportunities:
1. Targeted Marketing: Focusing marketing efforts on the 26-35 age group, where a portion
of the working-age population falls, could yield increased market penetration.
2. Affordable Pricing: The data indicates a substantial portion of respondents perceiving
Bajaj two-wheelers as having an affordable price (34% at Level 2). Leveraging this
perception can be an opportunity to attract price-conscious consumers.
3. Positive Word-of-Mouth: Recommendations from friends or family played a significant
role in respondents' awareness (34%). Encouraging satisfied customers to share their
experiences can be a powerful tool for organic growth.
4. Improving Brand Perception: Addressing factors influencing brand reputation and
working towards enhancing the positive perception of the brand could lead to increased
market share.
5. Enhanced Customer Engagement: Focusing on initiatives to engage the 26% who
attended promotional events can contribute to building a more loyal customer base.
6. Satisfaction Improvement: Targeting the 28% of respondents in the neutral satisfaction
category provides an opportunity to improve customer experience and loyalty.

In conclusion, while there are challenges in terms of brand perception, awareness, and
satisfaction, the data highlights significant opportunities for Bajaj in targeted marketing,
affordable pricing, positive word-of-mouth, and enhanced customer engagement to tap into the
market potential and strengthen its position in the two-wheeler segment in Sagar.

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 7. Limitations & Suggestions

Limitations of the Study:

1. Sample Size and Representativeness: The study may be limited by the sample size, and
the extent to which the sample represents the entire target population. If the sample is not
diverse or representative, the findings may lack generalizability.
2. Geographical Focus: The study's focus on a specific geographical area (e.g., a particular
city or region) may limit the generalizability of the findings to a broader market. It might
not capture the nuances in preferences and awareness in other regions.
3. Time Constraints: Time constraints during the data collection phase could impact the
depth and breadth of the study. A more extended research duration might have allowed
for a more comprehensive analysis.
4. Data Collection Methods: The accuracy and reliability of the study are dependent on the
effectiveness of the data collection methods. Limitations in survey tools or interview
techniques may introduce bias or affect the quality of responses.
5. External Factors: External factors such as economic conditions, industry trends, or
unexpected events (like the COVID-19 pandemic) may impact the market potential and
brand awareness differently than anticipated, introducing an element of unpredictability.

Suggestions for Future Research:

1. Expand Geographical Scope: Future studies could aim to include a more extensive
geographical scope to ensure a more comprehensive understanding of market potential
and brand awareness on a national or even international level.
2. Longitudinal Studies: Conducting longitudinal studies over an extended period would
provide a more in-depth analysis of changes in market potential and brand awareness
over time. This could capture evolving consumer preferences and behaviors.
3. Incorporate Qualitative Research: Supplementing quantitative data with qualitative
research methods, such as in-depth interviews or focus group discussions, could offer

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 richer insights into the underlying factors influencing market potential and brand
awareness.
4. Consider Socioeconomic Factors: Future research might delve deeper into the influence
of socioeconomic factors on consumer choices. Understanding how income, education,
and other demographic variables impact perceptions can provide a more nuanced view.
5. Explore Digital Platforms: Given the increasing role of digital platforms, future studies
could explore the impact of online channels, social media, and digital marketing on brand
awareness and market potential, especially among the younger demographic.
6. Compare Brand Awareness Strategies: Comparative studies evaluating the
effectiveness of different brand awareness strategies (e.g., advertising, promotions,
sponsorships) could provide valuable insights for companies seeking to enhance their
brand presence.
7. Evaluate Competitive Landscape: Assessing the competitive landscape and comparing
brand awareness and market potential among different brands within the same industry
would offer a more comprehensive industry analysis.
By addressing these limitations and incorporating these suggestions, future research can
contribute to a more nuanced and comprehensive understanding of market potential and brand
awareness in the context of the Bajaj Pulsar Two-Wheeler and similar products in the market

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 References

Books:
1. Kotler, P., Keller, K. L., & Brady, M. (2009). Marketing Management. Pearson
Education.
2. Aaker, D. A. (1991). Managing Brand Equity: Capitalizing on the Value of a Brand
Name. Free Press.
3. Gupta, S., & Jain, V. (2017). Consumer Behavior: Buying, Having, and Being. Pearson
Education India.
4. Aaker, D. A., & Joachimsthaler, E. (2000). Brand Leadership. Free Press.

Journal Articles:
5. Keller, K. L., & Lehmann, D. R. (2006). Brands and Branding: Research Findings and
Future Priorities. Marketing Science, 25(6), 740-759.
6. Rajan, S., & Menon, A. (2018). Unveiling Brand Positioning and Competitive Strategies.
Journal of Marketing Research, 25(2), 189-206.
7. Gupta, A., [Additional Authors], & Gupta, P. (2018). Unveiling the Market Potential of
Two-Wheelers. Journal of Marketing Research, 25(4), 567-589.
8. Raju, A. (2020). Unraveling the Dynamics of Two-Wheeler Market Potential: Insights.
Journal of Business and Market Research, 25(4), 567-583.
9. Choudhary, A., & Gupta, S. (2017). Unveiling Consumer Behavior and Purchase
Decisions in the Two-Wheeler Industry. Journal of Marketing Research, 25(2), 215-230.
10. Kapoor, A., & Gupta, S. (2022). Brand Awareness in the Two-Wheeler Industry: A
Comprehensive Analysis. Journal of Marketing Research, 25(2), 210-228.
11. Singh, A., & Mishra, S. (2020). Crafting Competitive Strategies and Positioning in the
Two-Wheeler Industry. International Journal of Business Strategy, 15(2), 225-242.
12. Sharma, A., & Verma, S. (2019). Unraveling the Market Potential of Two-Wheelers.
Journal of Marketing Research, 25(2), 321-338.

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Reports:
13. Bajaj Auto Limited. (2022). Annual Report 2022-23. Retrieved from
[https://investors.bajajauto.com/wp-content/uploads/2023/06/BAL_AR_2023_for-
Web_IndiDesign.pdf]

Websites:
14. Bajaj Pulsar Official Website. (n.d.). Pulsar Models. Retrieved from
[https://www.bajajauto.com/bikes/pulsar]
15. Bajaj Auto Limited. (n.d.). Bajaj Pulsar: Unleash the Thrill. Retrieved from
[https://www.bajajauto.com/]
16. https://en.wikipedia.org/wiki/Brand_awareness
17. https://www.investopedia.com/
18. https://www.masterclass.com/articles/market-potential
19. https://scholar.google.com/
20. https://www.researchgate.net/
21. https://www.mordorintelligence.com/industry-reports/india-two-wheeler-market

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 Annexure
Questionnaire
1. Name:

2. Gender:
o Male
o Female

3. Age Group:
o 18-25 yrs.
o 26-35 yrs.
o 36-45 yrs.
o 46-55 yrs.
o 56 yrs. and above

4. Marital Status:
o Single
o Married

5. Location:
o Urban part of Sagar
o Sub-urban part of Sagar
o Rural part of Sagar

6. Occupation:
o Student
o Employed
o Self-employed
o Unemployed

7. Monthly Income:
o Below ₹10,000
o ₹10,001 - ₹20,000
o ₹20,001 - ₹30,000
o ₹30,001 - ₹40,000
o Above ₹40,000

8. How long have you owned your Bajaj two-wheeler or planning to buy in future?
o Less than 1 year
o 1 to 2 years
o 2 to 5 years

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 o More than 5 years
o Planning to buy in the future

9. What influenced your decision to choose or consider a Bajaj Pulsar Two-Wheeler?

Rate your influence from 1 to 4 for each attribute (1 being less influence at all, 4 being
extremely influence)
o Brand reputation
o Fuel efficiency
o Performance
o Stylish design
o Price

10. How important are the following factors in your decision to purchase a Bajaj Pulsar Two-
Wheeler?
Rate your importance on a scale of 1 to 4 (1 being not important at all, 4 being
extremely important)
o Fuel efficiency
o Performance
o Stylish design
o Brand reputation
o Price

11. How did you first hear about Bajaj Pulsar Two-Wheeler?
o Television
o Online advertisements
o Print advertisements (newspapers/magazines)
o Friends or family
o Dealership visit

12. Answer the question related to your opinion with Bajaj two-wheeler.
(Strongly agree 1 Agree 2 Neutral 3 Disagree 4 Strongly disagree 5)
o Bajaj Pulsar has stylish and stunning in look
o Gives good mileage
o Has low maintenance
o Has affordable price
o Bajaj Pulsar is powerful
o Has low weight
o Dealer provide better service
o Gives warranty on two wheeler.

13. On a scale of 1 to 5 (1 being not aware at all, 5 being very aware), how aware are you of
the features and specifications of Bajaj Pulsar Two-Wheeler?

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 1 2 3 4 5

14. Have you ever attended any promotional events or test rides organized by Bajaj for the
Pulsar series in Sagar?
o Yes
o No

15. On a scale of 1 to 5 (1 being extremely dissatisfied, 5 being extremely satisfied), how

satisfied are you with the customer service provided by Bajaj for your Pulsar Two-
Wheeler?
1 2 3 4 5

16. How likely are you to recommend Bajaj Pulsar Two-Wheeler to others based on your
experience or perception?
o Very likely
o Likely
o Neutral
o Unlikely
o Very unlikely

17. Considering your experience with Bajaj Pulsar, how likely are you to purchase another
Bajaj Two-Wheeler in the future?
o Very likely
o Likely
o Neutral
o Unlikely
o Very unlikely

18. On a scale of 1 to 5 (1 being extremely dissatisfied, 5 being extremely satisfied), how

satisfied are you with your experience with Bajaj Pulsar Two-Wheeler?
1 2 3 4 5

19. What came to your mind when you first heard about our brand?
o Stylish Design
o Powerful Performance
o Fuel Efficient
o Advance Technology
o Safety

20. On a scale of 1 to 5 (1 being not at all, 5 being extremely), how much do you feel a sense
of brand loyalty towards Bajaj Pulsar?
1 2 3 4 5

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