A

PROJECT REPORT ON
CONSUMER SATISFACTION REGARDING HERO CYCLE

Submitted in the partial fulfilment for the award of the degree of

“BACHELOR OF BUSSINESS ADMINISTRATION”

Under the supervision of: Submitted by:

Prof. Aradhana Rana devakshi
(Assistant prof. department of commerce)

GOBINDGARH PUBLIC
COLLEGE,ALOUR,KHANNA
 PREFACE
To discuss consumer satisfaction regarding Hero Cycles, I will draw insights from the search results focusing on customer
behavior and initiatives taken by Hero Cycles to enhance customer experiences. Consumers primarily value the quality of
Hero Cycles when making purchases suggesting that they prioritize durability and reliability. Furthermore, advertisements
and dealer recommendations play a role in influencing buying decisions. Hero Cycles' strategy focuses on creating affordable
models that cater to the middle and upper-middle classes. By doing so, the brand ensures that its bikes remain accessible to
a wide range of consumers.

To further facilitate affordability, Hero Cycles collaborates with financial institutions to offer loan facilities. These
partnerships enable potential customers to spread out payments over time, thus increasing the likelihood of a positive
shopping experience. For instance, Bajaj Finserv offers No Cost EMI plans for Hero Cycles, simplifying the payment structure
and potentially enhancing customer satisfaction.

In summary, consumer satisfaction regarding Hero Cycles stems from the brand's commitment to producing high-quality
products, maintaining reasonable prices, and facilitating flexible payment methods via strategic partnerships.

2
 DECLARATION
I Undersigned student of BBA hereby declare that the project report entitled “HERO
CYCLES” in MANDI GOBINDGARH is an original and bonafied piece of work carried by
me under the guidance of my project guide PROF ARDHANA RANA towards the partial
fulfillment of the requirement for the award of degree of BACHELOR OF BUSINESS
ADMINISTRATION.

Devakshi
2522
21044928
 CERTIFICATE
This is to certify that Devakshi a student of GOBINDGARGH PUBLIC COLLEGE
ALOUR, KHANNA, PUNJAB has worked under my supervision and guidance
on HERO CYCLES submitted in partial fulfillment for the award of degree in
BACHELORS OF BUSINESS ADMINISTRATION OF PANJAB UNIVERSITY,
CHANDIGARH. The matter embodied in this report is authentic and same is
recommended for evaluation. I wish her lucl in her future endeavors.

Prof. ARADHANA RANA

(Dept. of Commerce Business Administration)
GOBINDGARH PUBLIC COLLEGE, ALOUR(KHANNA)
 ACKNOWLEDGEMENT
Project work is never the accomplishment of an individual rather it is an amalgamation
of the efforts , ideas and co-operation of a number of entities. I would like to thank
PANJAB UNIVERSITY for giving an opportunity to work on a valuable project. I am
thankful to our Head of Business Administration PROF. RAJESH KUMAR for motivating
me to complete this project with complete focus and attention. I wish to express my
heartfelt gratitude to the all the people who have played a crucial role in the research
for this project, without their active cooperation this project could not have been
completed within the specified time limit.
Lastly I would thank my parents and friends for their constant support during the
duration of my project.

Devakshi
B.B.A 3rd YEAR
21044928
 EXECUTIVE SUMMARY
According to a survey conducted, majority of people are satisfied with Hero products/services. The study investigated
several issues and levels of satisfaction of consumers, advertising, and sales promotion of Hero in order to facilitate the
implementation of solutions that would lead to the development of long-term connections between the firm and its
consumers. Customer satisfaction with Hero cycles’ service, product quality, and distribution chain management were also
investigated in this study. They find the hero cycles quite affordable as well as comfortable . People with low income can
easily buy the hero cycles according to the price they can get the cycles.
 INDEX
TOPIC PAGE NO.
INTRODUCTION 8-17
HERO CYCLES
SWOT ANALYSIS 18-22
ACHIEVEMENT & PRODUCT 23-25
MARKETIG MIX & STRATEGY 26,27
ABOUT PRODUCT 28-43
CONSYMER SATISFACTION 44-49
INTRODUCTION
RESEARCH METHOLOGY 50-56
DATA ANALYSIS 57-67
FINDINGS 68,69
CONCLUSION 70-76
ANNEXURE
CHAPTER-1
 The hero cycles journey, a narrative about the establishment and growth of India`s largest bicycle manufacturer, is not directly
related to the Hero`s journey , a narrative archetype that involves a hero embarking on an adventure, facing challenges and
returning transformed. However, the story of hero cycle doesn`t involve heroic journey of it`s own as it chronicles the vision and
perseverance of the Munjal brothers, who transformed a small bicycle parts manufacturer into a global powerhouse.

Hero Cycles was established in 1956 in Ludhiana, Punjab, India, by the late Shri Om Prakash Munjal. The company started with
manufacturing cycle components and slowly became one of the largest bicycle manufacturers in India. The first 100% Hero-made
bicycle was assembled in the 1950s, and the company's focus was on creating durable, easily maintainable bicycles with simple
repairs and easily available spare parts. The Munjal brothers drew designs of cycle parts on sheets of paper and discussed ways of
implementing them with the artisans. The end product was assembled by hand and then put through multiple functionality tests. The
company's first experiment in 1954 was in bicycle forks, the part that holds the wheel. A small furnace was set up in the backyard of
the shop, with two workers and a foreman to oversee the manufacturing process. The Hero brand name was acquired from a local
businessman named Kareem Deen, who agreed to let the Munjals use the name for their business. Today, Hero Cycles is one of the
world's largest manufacturers of bicycles, producing 18,390 cycles per day and exporting to over 70 countries worldwide.
 HISTORY
History of Hero Cycles
Hero Cycles was founded in 1956 by Brijmohan Lall Munjal and his brothers in Ludhiana, Punjab, India. Initially, the company focused on manufacturing
cycle components before transitioning into full-scale bicycle production. The Munjal brothers aimed to create durable, easy-to-maintain bicycles suitable
for Indian conditions, prioritizing affordability and practicality.

In 1954, the company began manufacturing bicycle forks, marking its entry into bicycle production. Over the following decades, Hero Cycles evolved into
the world's largest bicycle manufacturer, producing millions of cycles annually and exporting to over 70 countries. Key milestones in the company's
history include:
 1986: Producing 18,500 cycles daily, earning recognition in the Guinness Book of World Records as the world's largest
bicycle manufacturer.

 1984: Forming a joint venture with Honda Motor Company, leading to the establishment of Hero Honda Motors Ltd.,
which later became Hero MotoCorp—India's largest two-wheeler manufacturer.

 Present: Continuing to expand globally, with plans for aggressive expansion and innovative product launches.

Throughout its history, Hero Cycles has demonstrated a commitment to customer satisfaction, employee welfare, and
social responsibility, contributing significantly to the Indian economy and society.
Hero Cycles Limited is an Indian company headquartered in Ludhiana, Punjab, specializing in the production of bicycles and
bicycle-related products. Founded in 1956, it is now one of the world's largest bicycle manufacturers, producing
approximately 18,390 cycles per day. The company operates within the Hero Motors group and has expanded globally,
exporting to more than 70 countries worldwide. As of 2016, Hero Cycles had acquired stakes in several international
companies such as Avocet Sports Ltd. in the United Kingdom and BSH Ventures in Sri Lanka. Additionally, they purchased the
Firefox bicycle brand in 2015. Hero Cycles produces a diverse lineup of bicycles including children's bikes, city bikes,
mountain bikes, electric cycles, and ladies' cycles.

Their product portfolio includes:

 Kids Bicycles: Safe and reliable bikes for children featuring lightweight frames, adjustable saddles, and handlebars
suitable for growth.

 City Bikes: Designed for urban riding, these bikes include models like Hero Milano, Hero Urban Trail, and Hero
Atlanta, which are built for durability and comfort.

 MTB Cycles: Offering a variety of mountain bikes catering to different levels of riders, equipped with quality
components such as Shimano gear and suspension systems.

 Electric Cycles: Providing efficient and environmentally friendly transportation solutions .

 KIDS BIKE-

 CITY BIKE-
 MTB CYCLE-

 ELECTRIC CYCLE-
 Hero Cycles
Company type Private company
Industry Bicycles
Founded 1956; 68 years ago
Founder-
Brijmohan Lall Munjal
Om Prakash Munjal
Satyanand Munjal
Dayanand Munjal
Headquarters Ludhiana, Punjab, India
Key people Pankaj M Munjal
Products Bicycles
Revenue ₹26 billion (US$330million) 2017–2018
Total assets ₹76.40 billion (US$960 million) [5] (2017–2018)
Number of employees 7610
Parent Hero Motors Company
BRAND AMBASSADOR
ARJUN KAPOOR
LOGO EVOLUTION
 SWOT ANALYSIS

This Photo by Unknown Author is licensed under CC BY

Strength-

 Dominant Brand Image: A corporation can barely accumulate once it is prominent by its denomination name. Hero
Motocorp is one of those corporations that can play tough on the popularity area.

 Enormous Brand Equity: This is one of the largest strengths of Hero Motocorp. This company is one of the largest
performers in the market of two-wheelers.

 Terrific Distribution: Hero Motocorp has more than 3000 dealerships and service centres which have made it the
leading company in the enterprise.

 Broad Variety of Products: The extra commodities a corporation takeoff successfully, the more prominent it becomes.

 Awards and Recognition: Customers can be sure of a brand when it is conceded with prizes and awards. Hero Motocorp
has obtained many in all these years.

 Sponsorship: Events associated with sports and racing provide sponsorships to the corporation that has made it hugely

prominent among all its opponents.

Weakness-

 Poor Gender Diversification: As of late 2018, Hero MotoCorp had only 256 female workers out of 8266.

 Lack of Innovation: Hero Motocorp is undergoing a lack of significant talent particularly in the field of technology and
digital modification. If you also don’t want to lose on learning digital skills then soon enrol in our range of 13+ short
term digital marketing courses and start upgrading your skillset.

 Customer Dissatisfaction: Even though the appetite for commodities has not gone under there is a simmer for the
understanding of dissatisfaction among the customers of Hero Motocorp.

 Declining Assistance: In a study conducted by the International Journal of Innovative Research in Science, Engineering
and Technology in 2015, the overall service quality for Hero MotoCorp fell below the expectations of end consumers.
Opportunities-

 Development in Artificial Intelligence: Hero Motocorp can utilize growths in artificial intelligence to better indicate
customer demand, cater to closet segments, and make better suggestion engines.

 Evolving Preferences of Customers: The exponential expansion meant in the population, and particularly in the existing
or likely customer segments is a great growth chance for the business organisation.

 Changing Technology Landscape: The growth of new technologies to boost the product output and delivery procedure
can be influenced to embed creation in business systems. The progressive technological integration can reduce costs,
improve efficiency and result in the quick introduction of innovative commodities.
Threats-
 Strong Competition: The increasing number of direct or indirect competitors affects the organisation’s ability to
strengthen and expand the customer base.

 Development of Public Transportation: The government of India is trying to expand its public transport infrastructure.
Programs such as the National Highways Development Project will add on more than 80,000 km of highways in India.

 Increasing Bargain Power of Buyers: Over the years the bargaining power of customers of Hero Motocorp has increased
significantly which is putting downward prices.

 Pinching Middle Class in the Developed and Developing World: The growing imbalance is one of the biggest threats to
not only globalization but also to capitalism. Hero Motocorp first-hand glimpsed the impact of it where it has seen lower
demand of its products from middle-class customers in US and EU markets.
. This Photo by Unknown Author is licensed under CC BY-SA
 ACHIEVEMENT

Hero Group ranks amongst the Top 10 Indian Business Houses comprising 20 companies, with an estimated turnover of US$
3.2 billion during the fiscal year 2005-2006. The Group and its management have acquired a number of accolades and
achievements over the years.

Group Chairman, Mr Brijmohan Lall Munjal received the coveted "Ernst & Young Entrepreneur of the Year" award for 2001.

Hero Honda Motors was ranked 3rd amongst top Indian companies Review 2000 - Asia's leading companies award (2004)
by Far Eastern Economic Review.

Hero Honda Motors is the World's largest manufacturer of two-wheelers with annual sales volume of over 3.0 million
motorcycles. Hero Honda Motors has been awarded the highest rating for Corporate Governance (2003) by CRISIL - India's
Leading Ratings, Risk & Advisory Company and as the Best Governed Company in private sector(Dec 2004).

Hero Cycles Limited is a Guinness Book Record holder since 1986 as the world's largest manufacturer of bicycles, with
annual sales volume of 5 million bicycles in FY 2006.

Engineering Exports Promotion Council has awarded Hero Cycles with the Best Exporter Award for the last 28 years in
succession.
 PRODUCTS
Hero Cycles offers a wide range of bicycles catering to various segments and preferences. Some of the key products offered
by Hero Cycles include:

Full Suspension Mountain Bikes: Hero Cycles produces full suspension mountain bikes designed for off-road adventures and
challenging terrains.

Traditional City Bikes: The company offers classic city bikes suitable for urban commuting and leisure rides.

Electric Bikes: Hero Cycles has introduced electric bikes, such as the Lectro series, to meet the growing demand for
sustainable transportation options.

Kids' Bikes: Hero Cycles provides a range of bicycles designed specifically for children, ensuring safety and enjoyment for
young riders.

Women's Bikes with Baskets: The company offers women's bikes equipped with baskets, combining style and functionality
for female riders.

BMXs: Hero Cycles manufactures BMX bikes, known for their agility and sturdiness, catering to enthusiasts and
professionals.

Performance Bikes: The Octane series by Hero Cycles features high-performance bikes with patented designs and
geometries, showcasing the company's commitment to innovation
 MARKETING MIX

&

STRATEGIES

This Photo by Unknown Author is licensed under CC BY-SA

 Hero Cycles has implemented various marketing strategies to establish itself as a leading bicycle
manufacturer in India and globally. Some of the key marketing mix and strategies of Hero Cycles include:

Product Strategy: Hero Cycles offers a diverse range of bicycles, including full suspension mountain bikes, traditional city
bikes, electric bikes, kids' bikes, women's bikes with baskets, and BMXs, catering to different customer segments.

Pricing Strategy: Hero Cycles produces bicycles in various ranges, including gents, kids, ladies, mountain bikes, road bikes,
hybrids, tourers, and BMXs, ensuring affordability and accessibility for different customer segments.

Place Strategy: Hero Cycles operates over 200 experiential retail stores called Sprint Stores, transforming the bicycle
shopping experience. The company also exports its products to over 70 countries worldwide.

Digital Strategy: Hero Cycles has embraced digital platforms, offering direct-to-consumer options via its website and
partnering with e-commerce platforms like Amazon and Flipkart.

Innovation Strategy: Hero Cycles has introduced innovative products like the Lectro electric bike and the Octane series,
featuring patented designs and geometries, showcasing the company's commitment to innovation.
 There are some competitors of Hero
cycle but with different brand value.

HERO CYCLES OUTDOOR GEAR WIGGLE

CANADA
1956 1979 1999
 FOUNDING YEAR PRIVATE
SUBSIDIARY PRIVATE
 TYPE
 TAGS -RETAIL
-BICYCLE -RETAIL RETAIL BICYCLE
-CONSUMER GOODS -BICYCLE CLOTHING
GURUGRAM,INDIA MONTREAL,CANADA PORTSMOUTH,GB
1,047 aprx 54 aprx 397 aprx
 LOCATIONS
 EMPLOYEES
Why cycle is more affordable then
anyother vehicle?
Cycling is more affordable than other vehicles, such as cars. According to a study by Lund University, it is six times more
expensive for society and individuals to travel by car than by bicycle. The study compared the costs of cars and bicycles in
terms of air pollution, climate change, travel route, noise, road wear, health, and congestion in Copenhagen. The study
concluded that cars have a greater negative impact on the economy than bicycles, with the impact of the car being EUR 0.50
per kilometer and the impact of the bicycle being EUR 0.08 per kilometer. Additionally, the cost of operating a bicycle is
much lower than that of a car, including indirect and hidden costs such as maintenance, registration, insurance, and fuel.
Therefore, cycling is a more affordable option than other vehicles.

Additionally, the cost of operating a car, including maintenance, insurance, and fuel, i Furthermore, the production of a
bicycle, especially high-end models, involves labor-intensive processes and advanced technologies, which can contribute to
its coss generally higher than that of a bicycle. For example, auto maintenance costs, registration, insurance, oil changes,
and tune-ups are typically much higher than bike maintenance costs.

It's also important to consider that the comparison between the cost of bicycles and cars can be unfair when looking at top-
level racing bikes versus medium or low-range cars. Entry level and mid-range models of bicycles are more comparable in
price to cars.
 In summary, while it's possible to find very cheap cars, the overall cost of car ownership, including
maintenance and operation, is typically higher than that of a bicycle. Additionally, factors such as
environmental impact and health benefits should also be considered when comparing the affordability of
bicycles and cars.

Bicycles are generally more affordable than cars due to several key factors:

 Production efficiency: Automobile manufacturing tends to involve larger production runs, allowing for increased efficiencies
through assembly lines and specialized machinery. Bicycles, however, often have lower production volumes, leading to
higher unit costs.

 Materials and components: High-quality bicycles utilize advanced materials like carbon fiber and titanium, which can
significantly raise prices. However, cars rely primarily on steel and aluminum, keeping costs relatively lower.

 Maintenance and operational expenses: Auto maintenance, insurance, fuel, and repairs are typically more expensive than
maintaining a bicycle. Bicycles require fewer resources and simpler maintenance tasks.

 Branding and market dynamics: Luxury bicycles can command high prices similar to luxury cars, but the majority of bicycles
cater to a broader audience seeking functionality and durability, resulting in lower prices.

These factors combine to create a pricing structure where bicycles offer a more accessible option for personal mobility
compared to cars.
 BENEFITS OF CYCLES FOR PEOPLE
Health benefits:
• Increased cardiovascular fitness

• Cycling provides numerous benefits for people across multiple aspects of their lives. Here are some of the primary
advantages of cycling:

• Strengthened muscles and improved joint mobility

Decreased stress levels

• Enhanced posture and coordination

• Stronger bones

• Lowered body fat levels

• Protection from chronic diseases such as stroke, heart attack, some cancers, depression, diabetes, and arthritis.
 Environmental benefits:

• Reduced carbon emissions

• Less air pollution exposure

• Sustainable urban travel solution.

Economic benefits:

• Savings on transportation costs

• Potential reduction in healthcare expenditure due to improved health.

Social benefits:

• Improved mood and self-esteem

• Better social connections

• Greater sense of community involvement.

Time efficiency:

• Combines exercise with daily routines, saving time usually spent on driving.

Fun and convenience:

• Enjoyable leisure activity

 ACCESSORIES OF CYCLES
Cycles often come equipped with various accessories designed to enhance comfort, convenience, and safety during use.
Some common cycle accessories include:

 Bike Lights: For visibility during low light conditions or nighttime cycling.

 Bike Fenders: Protect clothing and equipment from mud and water splashes.

 Bike Racks: Used for transporting bikes on vehicles or for carrying additional items while cycling.

 Bike Seats: Comfort options for riders

 Bike Pumps & CO2: Essential for maintaining tire pressure.

 Water Bottle Cages: Hold bottles containing fluids for hydration.

 Cargo Racks: Transport larger loads

  Bike Computers: Measure speed, distance, and other performance metrics.

 Handlebar Tape: Provides grip and cushioning for handlebars.

 Basket: Carry small items such as groceries.

 Mirrors & Reflective Devices: Improve awareness and visibility.

 Kickstands: Keep the bike upright when parked.

 Chain Lube: Lubricate chains for smooth operation.

 Bar Tape: Offer grip and cushioning for handlebars.

 Tools & Maintenance Equipment: Enables repairs and adjustments.

 Child Seats & Trailers: Accommodate children during cycling trips.

These accessories cater to different types of cyclists, including those who commute, exercise, tour, or
participate in competitive events. They aim to provide a safe, convenient, and enjoyable experience for
cyclists across diverse terrains and environments.
 what are the features of hero cycles'
latest tyre models
Hero Cycles' latest tyre models showcase several improvements compared to previous generations. While
specific details about individual model changes cannot be directly extracted from the given sources, general
trends observed from the data indicate the following features in Hero Cycles' latest tyre models:

Wide Range of Sizes: Hero Cycles now offers tyres in various sizes, including 26", 27.5", 29", and 700C, which
allows customers to select the appropriate size for their preferred type of cycling.

Improved Performance: Latest tyres are engineered for better traction, durability, and puncture resistance,
enhancing overall performance. Spur Suspension: Several Hero Cycles models, such as the Hero Sprint
Hustle, are equipped with Spur Suspension technology, improving shock absorption and handling.
Mechanical Disc Brakes: Mechanical disc brakes provide consistent braking performance regardless of weather conditions.

GEM TECH™: Certain models, like the Hero Sprint Compass, utilize GEM TECH™ engineering, resulting in improved
ergonomics and enhanced user experiences.

Lightweight Frames: Hero Cycles' city bikes and MTB bikes feature lightweight frames that improve maneuverability and
reduce fatigue.

High-Quality Components: Latest models incorporate premium components such as Shimano gearing systems and front
suspension forks.

The price range for hero cycles' latest tyre models-

The price range for Hero Cycles' latest tyre models cannot be precisely determined using the provided search results alone,
as they do not list prices specifically for tyres. However, based on the information available from the Hero Cycles website,
the company offers a variety of bicycles with different price points, ranging from approximately ₹3,000 for entry-level kid's
cycles to over ₹50,000 for specialized sports and adventure bikes. Since tyres are typically sold separately or included with
new bicycles, it would be reasonable to expect that Hero Cycles' latest tyre models could fall into this broad pricing

spectrum depending on factors such as quality, materials used, and technological advancements .
 For example, the Hero Sprint Compass, a high-performance mountain bike, comes with a suggested retail
price around ₹20,000–₹30,000, indicating that the cost of the tyres associated with this model would likely
be lower than the total purchase price but still reflect the value added by the latest technologies and
innovations. Therefore, potential buyers should consult the official Hero Cycles website or contact authorized
dealerships for up-to-date pricing information on their latest tyre models.

Hero Cycles' latest tyre models typically consist of traditional, narrower tyres rather than fat tyres. Fat tyres,
however, offer distinct advantages in specific scenarios, such as:

Improved Traction: Fat tyres have a larger surface area in contact with the ground, providing a larger contact
patch, leading to better distribution of weight and pressure on the tire, resulting in improved traction.

Stability: The wider and flatter profile of fat tires provides a larger contact patch with the ground, helping
increase bike stability.
 However, fat tyres are heavier and less efficient than traditional tyres, requiring more effort to propel
forward. Traditional tyres, such as those featured in Hero Cycles' latest models, offer lighter weight, higher
efficiency, and better rolling resistance, making them ideal for everyday cycling needs. If a customer requires
fat tyres for specific purposes, such as off-road cycling, snow biking, or beach cruising, then Hero Cycles' fat
tyre models from earlier generations, like the Hero Sprint Next Sports Cycle with 26" wheels and 26 * 2.40
inch tyres, remain viable options.

ABOUT NEWLY LAUNCHED ELCTRIC CYCLE OF HERO CYCLES-

Hero Cycles offers electric cycles under the brand name "Hero Lectro." These e-cycles provide a unique blend
of cycling and motorized assistance, offering numerous advantages over traditional bicycles. Key aspects of
Hero Lectro e-cycles include:

Portable Battery Design: Many Hero Lectro e-cycles, such as the Hero Lectro C5x, Hero Lectro C8x, and Hero
Lectro F3i, feature a removable battery design, making charging extremely easy.
 S

Lithium-Ion Battery: Most Hero Lectro e-cycles are powered by lithium-ion batteries with IP67 protection,
ensuring both reliability and longevity.

Suspensions: Front suspensions lock and rear shocks allow for smoother rides on uneven terrain.

Speed Limits: Top speeds vary among Hero Lectro e-cycles, reaching up to 20 km/hr.

Range: Depending on the model, Hero Lectro e-cycles can achieve ranges of up to 35 kilometers per charge.

Maintenance: Lower costs of maintenance make owning an e-cycle financially advantageous.

Environmental Friendliness: E-cycles produce zero emissions, contributing positively to environmental

conservation efforts.

No License Required: Unlike motorcycles, e-cycles do not require licenses or registrations.

E-cycles from Hero Cycles combine the simplicity and accessibility of traditional bicycles with the
convenience and efficiency of electric motors, creating a sustainable and practical solution for urban
commuting and recreation.
Loan facility provided by HERO
CYCLES

Hero Cycles provides loan facilities for the purchase of their bicycles through tie-ups with financial
institutions. This initiative aims to make bicycles more affordable, particularly for consumers from the
economically weaker sections. The company has launched pilot projects and tied up with institutions to offer
financing options, including No Cost EMI plans, making it easier for customers to buy Hero Cycles.
Additionally, the company has been rated for its total bank loan facilities, indicating its engagement in
financial arrangements to support the purchase of its products.

What are the eligibility criteria for availing a loan for hero cycles?
Hero Cycles provides loan facilities for purchasing bicycles, but specific eligibility criteria may vary depending on the
financial institution involved. Based on the information available, here are some common eligibility criteria for obtaining a
loan for Hero Cycles:
Age: Applicants must typically be above 18 years old.
Residency: Applicants must reside within the service areas covered by the financial institution offering the loan facility.
Employment status: Applicants must have a stable source of income, either employed or self-employed.
Credit history: Applicants must have a satisfactory credit score and no recent history of defaults or bankruptcies.
Documentation: Applicants must submit necessary documents such as proof of identity, address, employment, and income
details.
Loan amount: Applicants may be limited to borrowing amounts up to a specified maximum, often around INR 3.5 lakhs
according to Hero FinCorp. Debt-to-income ratio: Applicants must ensure that their existing debts do not exceed a
predetermined percentage of their income.
 consumer
satisfaction

introduction-:
Consumer behavior-

Consumer behavior is intricately linked to consumer satisfaction regarding a product. Consumer satisfaction acts as a
mediating factor in product buying behavior, pricing, and packaging. Factors such as pricing, product information, and
packaging influence consumer satisfaction, which in turn affects consumer buying behavior. Customer satisfaction is crucial
for businesses as it influences repurchasing intentions and actions, ultimately impacting sales and revenue. Understanding
consumer behavior involves factors like perception, emotions, attitudes, and preferences, which are essential for businesses to
tailor their products and marketing strategies effectively.
Various types of consumer buying behaviors exist, such as routine, informed, impulsive, and variety-seeking behaviors, each
influenced by personal, psychological, social, and cultural factors. Providing superior customer service is key to satisfying
consumers and fostering loyalty. Maximizing customer satisfaction involves market research, staff training, after-sales service,
and effective complaint procedures.
Ultimately, customer satisfaction plays a significant role in shaping consumer behavior and impacting business success.
 Variety of consumer behavior
There are various types of consumer behavior that businesses need to understand to tailor their products
and marketing strategies effectively. The four main types of consumer buying behavior are complex buying
behavior, dissonance-reducing buying behavior, habitual buying behavior, and variety-seeking buying
behavior.

o Complex buying behavior is encountered particularly when consumers are buying an expensive product.

o Dissonance-reducing buying behavior occurs when consumers are buying expensive, infrequently
purchased products.

o Habitual buying behavior occurs when consumers have minimal involvement in a purchase choice
because they find very few significant differences between brands.

o Variety-seeking buying behavior is the tendency of buying in customers who do not have high

involvement with a product.

Consumer decision making process
The consumer decision-making process consists of five primary stages that individuals go through when
considering purchasing a product or service:

• Problem recognition: Identifying a need or wanting a product or service.

• Information search: Collecting data about the product or service, including internal and external
sources.

• Alternatives evaluation: Comparing options against relevant criteria.

• Purchase decision: Choosing the product or service to buy.

• Post-purchase evaluation: Assessing the purchase and determining satisfaction levels.

Need for studing consumer behavior
Studying consumer behavior is crucial for businesses for several reasons:

Competitive Advantage: Understanding consumer behavior allows a brand to offer competitive advantages
based on consumer expectations, leading to increased market share and profitability.

Market Trends: Consumer behavior analysis can indicate shifts in market trends, enabling companies to
adapt their strategies according. Product Development: By studying consumer behavior, companies can
design products and marketing campaigns that resonate with consumers, leading to increased customer
satisfaction and loyalty.

Effective Marketing Strategies: Understanding consumer buying behavior aids in developing effective
marketing strategies, identifying customer needs, and creating products and services that align with
consumer preferences, ultimately improving sales and revenue.
 Consumer satisfaction
Consumer satisfaction is a critical aspect of product selling and consumer buying behavior. It acts as a
mediating factor in product buying behavior, pricing, and packaging. Customer satisfaction is evaluated by
obtaining feedback from customers after purchasing products or services and comparing it with their
expectations. Consumer satisfaction is a critical aspect of product selling and consumer buying behavior. It
acts as a mediating factor in product buying behavior, pricing, and packaging. Customer satisfaction is
evaluated by obtaining feedback from customers after purchasing products or services and comparing it with
their expectations. Customer satisfaction is perceived as affecting repurchasing intentions and actions,

contributing to an organization's potential sales and income .

 Consumer research
Consumer research is a fundamental component of understanding consumer behavior, preferences, and
motivations. Its goal is to inform business decisions, product development, and marketing strategies.
Consumer research includes various methods, such as surveys, ethnographic studies, secondary data

analysis, experiments, mystery shopping, and neuroscience and biometric research .

RESEARCH METHOLOGY
 The scope of research methodology on Hero Cycles encompasses various dimensions related to the
company's operations, strategies, and market positioning. Here are some insights derived from the provided
search results:

Market Research: Conducting market research on the cyclo-cross bicycle market size, trends, and advancements can provide
valuable insights for Hero Cycles to understand market dynamics and make informed decisions.

Case Studies: Analyzing case studies on Hero Cycles can shed light on the utilization of team capabilities for self and
organizational effectiveness, emphasizing the importance of research in driving success within the company.

Marketing Strategies: Research methodologies have played a crucial role in shaping Hero Cycles' marketing strategies,
including product development, pricing, branding, and market positioning.

Product Development: Research and innovation have been instrumental in Hero Cycles' success, leading to the launch of
new products like the Lectro electric bike and the Octane series, showcasing the company's commitment to innovation.

Global Expansion: Research has guided Hero Cycles' aggressive expansion plans, including potential acquisitions in Europe
and the US to create business synergies and achieve strategic goals.
The objective of research methodology on Hero Cycles is to gain comprehensive understanding of the
company's operations, strategies, and market positioning, enabling evidence-based decision-making and
continuous improvement. Key objectives of research methodology on Hero Cycles might include:

 Identifying current market trends and opportunities to inform strategic direction.

 Assessing the effectiveness of existing marketing strategies and identifying areas for optimization.

 Evaluating the company's product offerings and identifying gaps in the market.

 Examining the competition landscape to identify strengths and weaknesses relative to peers.

 Exploring potential avenues for global expansion and assessing feasibility.

 Analyzing the company's organizational structure and culture to optimize productivity and collaboration Evaluating the
company's research and development efforts to foster continued innovation.

 Measuring the company's environmental and social impacts to guide responsible corporate practices.

 Assessing the company's risk profile and mitigation strategies.

 Monitoring regulatory compliance and staying abreast of emerging legal requirements..

 Research design refers to the overall plan or structure that guides the process of conducting research. It is a critical
component of the research process and serves as a blueprint for how a study will be carried out, including the methods and
techniques that will be used to collect and analyze data. The research design is essential for ensuring that the research
objectives are met and that the results are valid. The design allows researchers to sharpen the research methods suitable for
the subject matter and set up their studies for success.

The research design process is a systematic and structured approach to conducting research. The process is essential to
ensure that the study is valid, reliable, and produces meaningful results. The process includes determining the research
questions and objectives, identifying the theoretical framework and methodology for the study, selecting the appropriate
research design, identifying the population and sampling method, collecting and analyzing data, and reporting the findings.

TYPE OF RESEARCH

Research design is a crucial aspect of any study, guiding the process of data collection and analysis. Here are some common
types of research designs that can be applied to studies related to Hero Cycles:

Experimental Research Design: This design involves conducting experiments to establish causal relationships between
variables. For example, testing the impact of a new feature on customer satisfaction.

Observational Research Design: Observational studies involve observing and recording behaviors in their natural settings
without intervention. This method can be useful for understanding consumer behavior or market trends.
Case Study Design: Case studies involve in-depth examinations of specific individuals, groups, or phenomena. They are useful for
exploring unique situations or problems in detail.

Survey Research Design: Surveys involve collecting data from a sample population through questionnaires or interviews to gather
insights on various topics such as consumer preferences or market trends.

SOURCE OF DATA

Sources of data for research on Hero Cycles can be categorized into primary and secondary data.

Primary Data

Primary data is information collected directly from first-hand experiences, specifically for the purposes of a particular research
project. Examples of primary data sources include:

 Interviews (personal, telephone, email)

 Self-administered surveys and questionnaires

 Field observations

 Experiments

 Case studies

 Diary entries, letters, and other correspondence

 Secondary Data

Secondary data is information collected by someone else, not specifically for the research project at hand. Examples of
secondary data sources include:

 Previous research

 Mass media products

 Government reports

 Official statistics

 Encyclopedias

 Monographs

 Journal articles

 Biographies

 Work analyses and criticisms

 Financial sources such as profit and loss statements, balance sheets, and inventory records
 SAMPLE DESIGN

When designing a sampling strategy for research on Hero Cycles, consider the following components:

Sampling Unit: A sampling unit represents the smallest entity that can be included in the sample. In this context, a sampling
unit could be a store selling Hero Cycles products, a customer purchasing a Hero Cycles product, or even a production
worker involved in the manufacturing process.

Sampling Area: Define the geographical region or locations where the sampling units exist. Depending on the research
objectives, the sampling area could cover local, regional, national, or international levels.

Sampling Size: Estimate the number of sampling units required to obtain representative and statistically sound results.
Factors influencing the choice of sampling size include the level of confidence, margin of error, and availability of resources.

Sampling Technique: Select an appropriate technique to draw a representative sample from the defined population. Some
commonly used sampling techniques include simple random sampling, stratified random sampling, cluster sampling,
systematic sampling, quota sampling, and convenience sampling.
Data analysis
 Q1. What made you to buy Hero Cycles?
REASON TOTAL RESPONSE PERCENTAGE
AFFORDABLE 15 60%
PRICE 4 16%
BENEFITS 3 12%
FEATURES 3 12%
TOTAL 25 100%
Sales
.

AFFORDABLE 60% PRICE BENEFIT FEATURES

 Q2. What are your views after using Hero cycles?
REVIEWS RESPONSES PERCENTAGE
BAD 1 4%
GOOD 13 52%
EXCELLENT 11 44%
TOTAL 25 100%

bad good excellent

 Q3. Why are the cycles best choice?
REASON RESPONSES PERCENTAGE
PRICE 4 16%
FEATURES 3 12%
AFFORDABLE 15 60%
DESIGN 3 12%
TOTAL 25 100%

Sales
.

PRICE FEATURES AFFORBLE DESIGN

 Q4.Are Hero cycles affordable for you?
LIKES RESPONSES PERCENTAGE
YES 19 76%
NO 2 8%
CAN`T SAY 4 16%
TOTAL 25 100%

.
Sales

YES NO CAN`T SAY

Q5. Would you like you promote hero cycles to other?
PROMOTES RESPONSES PERCENTAGE
YES 15 60%
NO 7 28%
CAN`T SAY 3 12%
TOTAL 25 100%

.
Sales

YES NO CANT SAY

Q6. Which is the marketing source forced you to buy a
HERO CYCLES?
MARKETING SOURCE RESPONSES PERCENTAGE
ADVERTISMENT 3 12%
MARKETING STAFF 7 28%
OTHER 15 60%
TOTAL 25 100%
.
Sales

ADV. MRKTNG OTHER

Q7. Are HERO CYCLES comfortable for you?
COMFORTABLE RESPONSES PERCENTAGE
YES 20 80%
NO 5 20%
TOTAL 25 100%

.
Sales

YES NO
Q8.Are you satisfied with Hero cycles product?
SATISFIED RESPONSES PERCENTAGE
YES 19 76%
NO 0 0
CAN`T SAY 6 24%
TOTAL 25 100%

YES NO CAN`T SAY

Q9. Are HERO CYCLES available in your location?
AVAILABLE RESPONSES PERCENTAGE
YES 20 80%
NO 5 20%
TOTAL 25 100%

YES NO
Q10. Do you think cycles are environmental friendly?
ENV. FRIENDLY RESPONSES PERCENTAGE

NO 5 20%

YES 20 80%

TOTAL 25 100%

NO YES
FINDINGS
ACCORDING TOTHE STUDY
, I found t hat most of the peopl e pr efer HERO CYCLES because t hey are affordabl e and environmental friendly.

1. It was clear that the people were not finding any probl em i n Hero cycles.
2. People would like to pref er the Hero cycles.
3. Accor ding to the customer s, cycles are ver y good in quality.
4. I found that cycl es are good f or t he peopl e wit h low income.
5. Hero cycles are very comfortable according to the cust omer s.
6. I observed t hat majority of t he peopl e li ke the Hero cycles .
7. 80% of the peopl e think cycles ar e environmental friendly.
8. 76% of the peopl e are satisf ied with the Hero cycles product.
9. And out of 100, 76% of people find it affordabl e.
 CONCLUSION

This Photo by Unknown Author is licensed under CC BY-SA

#HERO CYCLES provides good facilities to the customers.

#The company is offering a very good service .

#Majority of the consumers are satisfied with the product.

#76% of the people find cycles to be affordable.

#44% of people think Hero cycles are excellent, 52% of people think its Good and 4% of people think its bad.
 ANNEXURE-:

This Photo by Unknown Author is licensed under CC BY-SA-NC

NAME-___________
ADDRESS-___________
AGE-_________
GENDER-________
CONTACT NUMBER-________

Q1. What made you to buy HERO CYCLES?

a) affordable b) price
c) benefits d) features

Q2. What are your views after using HERO CYCLES?

a) good b) bad
c) excellent

Q3. Why are cycles best choice?

a) price b) features
c) affordable d) design
Q4. Are HERO CYCLES affordable for you?
a) yes b) no
c) can`t say

Q5. Would you like to promote HERO CYCLES to others?

a) yes b) no
c) can`t say

Q6. Which is the marketing source forced you to buy a HERO CYCLE?
a) advertisement b) marketing staff
c) other

Q7. Are HERO CYCLES comfortable for you?

a) yes b) no

Q8. Are you satisfied with HERO CYCLES product?

a) yes b) no
c) can`t say
Q9. Are HERO CYCLES available in your location?
a) yes b)no

Q10. Do you think cycles are environmental friendly?

a) no b) yes
67