Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
1 of 90

A report on consumer awareness and perception towards e bikes

33

Share

A report on consumer awareness and perception towards e bikes

Related Books

Free with a 30 day trial from Scribd

See all

Related Audiobooks

Free with a 30 day trial from Scribd

See all

A report on consumer awareness and perception towards e bikes

  1. 1. Consumer Awareness and Perception towards E-bikes 1. EXECUTIVE SUMMARY The Topic of study was “A STUDY ON CONSUMER AWARENESS AND PERCEPTION TOWARDS GENXT ELECTRIC BIKES” GENXT POWER (INDIA) LTD was incorporated on September 26, 2002, having its registered office in Mumbai and its manufacturing unit at Vasai. Genxt has assembled various innovative technologies to manufacture the first Electric Two-wheeler to serve the personal and commercial need of the prospective Indian consumer. The crowning glory of the company’s remarkable success is the fact that now it has become a full fledged limited company i.e. GENXT Power India Ltd. It has been always believed customer as an important stock holder in business. Therefore consumer awareness is of prime importance to the organization. The objective of the study was to know about the awareness of electric bikes among the people and what is the perception of the users about the bikes is and to explore how the sale of electric bike can be increased. The data collected for the project was based on primary and secondary data. The sample size selected for the survey was 100. The primary data collected through questionnaire. The survey was conducted for 4 weeks and data was collected from direct questionnaire and interview. The collected data was analyzed and interpreted to obtain the conclusion by using graphical representation. 1 Projectsformba.blogspot.com
  2. 2. Consumer Awareness and Perception towards E-bikes STATEMENT OF THE PROBLEM: With increasing in air pollution in urban areas and scarcity of fuels Electric Bikes is in great demand but it is not used by most of the people because of lack of awareness. Thus the purpose of the study is to study the awareness level of consumers towards E-Bikes and also the perception of the users. Thus by creating awareness we can enhance the sales of Electric Bikes The objectives of the study are; • To find out the awareness of consumer about the electric bikes. • To find out the reason why consumer prefers to electric bike. • To find out the factor influencing the sales of electric bike. • To know the users perception about electric bikes. To suggest measures to increase sales of electric bikes. SAMPLING DESIGN: Sampling unit : Users of two wheelers in north Karnataka Sampling size : 100 Sampling method : Non probability Sampling technique : Convenience sampling MAJOR FINDINGS • It was found that most of the customers are not much satisfied with the price of the product, and Price quoted by the companies has affected the customer satisfaction to a great deal. 2 Projectsformba.blogspot.com
  3. 3. Consumer Awareness and Perception towards E-bikes • It was found that most of the customers were satisfied with the mileage of the Electric bikes and are convinced about the electric bike benefits and were willing to refer it to their friends. • It was found that most of the customers are not satisfied with after sales service. It shows that customers are dissatisfied about after sale service. • It was found that maximum number of the customers feel the speed of the Electric bikes to be very low and were not satisfied with the current speed of the bikes. • It was found that most of the respondents feel that the factors such as speed & power, battery life and appearance of Electric Bikes are the main reasons for its lower market share. MAJOR SUGGESTIONS: • There are only few advertisements in newspapers and TVs. Thus maximum advertisements need to be put up in these Medias as they reach wider audiences. • The price of the electric bikes need to be decreased it can be done by adopting sophisticated technologies and carrying out mass productions or some discounts on price or offers should be given in order to increase the sales. • More number of service centres need to be opened at least in major areas to cater to the problems & needs of the customers when needed. • As most of the people prefer high speed the speed of the electric bikes need to be improved so as to increase the sales of the E-Bikes. 3 Projectsformba.blogspot.com
  4. 4. Consumer Awareness and Perception towards E-bikes • Promotional activities should be increased to create awareness and increase the sales. Like it should be displayed in auto shows and to attract more youths demonstrations and special offers should be given to college students. LIMITATIONS TO THE STUDY: Some of the limitations of the study may be summarised as follows  An underlying assumption for entire project is that the details and feedback received from population are true.  It was difficult to find respondents as they were busy in their schedules and collection of data was very difficult. Therefore study had to be carried out based on availability of respondents.  Some of the respondents were not ready to fill the questionnaire and some of them not ready to come out openly.  Also the sample size of 100 may not truly represent whole population. 4 Projectsformba.blogspot.com
  5. 5. Consumer Awareness and Perception towards E-bikes 2. INTRODUCTION TO THE CONCEPT Marketing: It is defined by the American marketing association as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. The term developed from the original meaning which referred literally to going to market, ass in shopping, or going to a market to sell goods or services. Awareness: It is a term referring to the ability to perceive, to feel, or to be conscious of events, objects or patterns, which does not necessarily imply understanding. In biological psychology, awareness comprises a human’s or an animal’s perception and cognitive reaction to a condition or event. E-BIKE: An Electric Bike or Scooter is a battery operated vehicle that is very economical with low maintenance cost and zero pollution. Electric two wheelers use the electrical technology of rechargeable battery that converts the electrical energy into mechanical energy. The battery of an EV can be charged easily using a power connection. There are many possible types of electric motorized bicycles with several technologies available, varying in cost and complexity; direct-drive and geared motor units are both used. An electric power-assist system may be added to almost any pedal cycle using chain drive, belt drive, hub motors or friction drive. The power levels of motors used are influenced by available legal categories and are often limited to under 700 watts. Electric bicycles use rechargeable batteries, electric motors and some form of 5 Projectsformba.blogspot.com
  6. 6. Consumer Awareness and Perception towards E-bikes control. This can be a simple as an on-off switch but is more usually an electronic pulse width modulation control. Electric bicycles developed in Switzerland in the late 1980s for the Tour de Sol solar vehicle race came with solar charging stations but these were later fixed on roofs and connected so as to feed into the electric mains.[13] The bicycles were then charged from the mains, as is common today. Battery systems in use include lead-acid, NiCd, NiMH and Li-ion batteries. Electric motorized bicycles can be power-on-demand, where the motor is activated by a handlebar mounted throttle, and/or a pedelec (from pedal electric), also known as electric assist, where the electric motor is regulated by pedalling. These have a sensor to detect the pedalling speed, the pedalling force, or both. An electronic controller provides assistance as a function of the sensor inputs, the vehicle speed and the required force. Most controllers also provide for manual adjustment. Range is a key consideration with electric bikes, and is affected by factors such as motor efficiency, battery capacity, efficiency of the driving electronics, aerodynamics, hills and weight of the bike and rider. The range of an electric bike is usually stated as somewhere between 7 km (uphill on electric power only) to 70 km (minimum assistance) and is highly dependent on whether or not the bike is tested on flat roads or hills.[14] Some manufacturers, such as the Canadian BionX or American E+ (manufactured by Electric Motion Systems), have the option of using regenerative braking, the motor acts as a generator to slow the bike down prior to the brake pads engaging.[15] This is useful for extending the range and the life of brake pads and wheel rims. There are also experiments using fuel cells. e.g. the PHB. Some experiments have also been undertaken with super capacitors to supplement or replace batteries for cars and some SUVS. The energy costs of operating electric bicycles are small, but there can be 6 Projectsformba.blogspot.com
  7. 7. Consumer Awareness and Perception towards E-bikes considerable battery replacement costs. Riding an electric bicycle to work or to the store instead of taking a car has long term financial gains. Solar power is possible when charging an electric bicycle. WHY E-Bikes: Global warming is a major concern all around and to save Mother Earth, there are several policies, promises and pledges. With the ever increasing emission of greenhouse gases, there is an increased fear of environment pollution at every step. With modern technology and innovation, transportation and communication have undergone a paradigm shift. Along with this, we are also experiencing the negative effects of industrialization in the form of global warming. Under these circumstances, when there are traffic jams, when you need to run an errand at an odd hour of the day, when you need to go to workplace quickly, you stumble and fumble as there are so many vehicles emitting soot and CO2 polluting the air incessantly. With increased number of fossil-fuel dependent vehicles, they not only add to greater level of pollution but are also leading to depletion of fuel resource. It is here that automobile companies felt the need to innovate motorized vehicle that will get charged through electricity and will not be depending on fossil fuels. This led to expansion of eco-friendly initiatives and many automobile manufacturing companies invested in research and development to bring forth electric bikes that will help people save a few bucks by reducing consumption of already spiraling fuel price, besides fighting global warming. Most electric bikes are emission-free bikes and this is the USP of the company’s manufacturing them in these days of global warming. It will not add to urban pollution. The only thing required is to keep this bike charged with a battery. 7 Projectsformba.blogspot.com
  8. 8. Consumer Awareness and Perception towards E-bikes Electric bike manufacturing is considered as a grass root movement away from fossil fuels. Definitely, electric bikes are not the only answer to our environment problem, but it definitely will help us to treat environment better. These electric bikes will not make pollution worse and that makes e bikes environmentally safe vehicle. It can be charged with the help of inverter and generator too. In one charge, these electric bikes can go up to 50km and has no tail pipe emissions. It also makes no noise while under operation. The best part of electric vehicles is that they can be run with no registration and license. In the manufacture and production of electric bikes, the main constraint is the battery in the bumpy roads. Batteries get deteriorated at a fast rate due to excessive current fluctuation. Batteries need frequent replacement and that is the greatest concern for the most Indian companies who manufacture these electric bikes. The replacement cost of the batteries hover around Rs. 5000, but otherwise the maintenance cost of electric bikes is almost negligible. There is a growing market potential of electric bikes in India; however, speed might not be the attractive feature of these e-bikes, they will cater you to run the short distances maybe home to office or home to college; but these are safer vehicles with benefit of almost no pollution. So instead of kicking a 100 cc motorbike, just press the start button of electric bike and vroom your way friendly on the roads. It is evident that electric bikes can reduce the air pollution. But there are also some environmental problems caused due to these electric bikes. Disposal of worn out batteries can be a cause of major concern for environmentalists. If this can be addressed, electric bikes can definitely reduce environment pollution. 8 Projectsformba.blogspot.com
  9. 9. Consumer Awareness and Perception towards E-bikes Benefits Of Genxt E -Scooty Vis-A-Vis Ic Engine Scooters Particulars Electric Scooty Ic Engine Scooter Weight of the scooty 75 kgs 84 kgs Range (Kms) / Litre of 65/ Charge 50 / Ltr. Petrol Cost / 100 Kms Rs. 6.00 Rs. 110 (2 Ltrs) Cost of Fuel : Rs/Km Rs. 0.06 Rs. 2.00 Cost of Fuel - Power 1.800.00 33000 over 30,000 Kms in Rs Service and Maintainance over 1,000.00 9,000.00 30,000 Kms, Rs Battery Replacement 10000 set of 4 batteries -- N.A. -- over 30,000 Kms, Rs Total Expense towards 12,800.00 42,000.00 fuel for 30,000 Kms, Rs Cost of Scooter Ex 29980 32,000.00 9 Projectsformba.blogspot.com
  10. 10. Consumer Awareness and Perception towards E-bikes Showroom (Rs) Registeration (Rs) --N.A.-- 620 Registeration Tax (Rs) --N.A.-- 2,480.00 Insurance (Rs) 478 809 Handling (Rs) 100 100 Total Investment on 30,558.00 36,009.00 Scooter (Rs) Total Investment + Running cost for 30,000 43,358.00 78,009.00 Kms (Rs) GENXT POWER INDIA LIMITED Features of Electric Bikes and Scooters: Electric bikes or scooters, light in weight, trendy, efficient and eco-friendly, are becoming potent alternative to the conventional two-wheelers and the Electric two-wheeler industry in India is developing at rapid speed. Have a look at the unavoidable advantages of Electric Bikes and Scooters : • Licence and registration is not required for E Bikes and Scooters. • Electric two wheelers run on re-chargeable battery and uses electricity as fuel in place of conventional Petrol/Diesel. • E Bikes and Scooters can beat the rising prices of Petrol/Diesel. • Simple design, light weight and economical Electric vehicles are very low in running and maintenance cost. 10 Projectsformba.blogspot.com
  11. 11. Consumer Awareness and Perception towards E-bikes • With the ease of handling, Electric two wheelers saves the commuting time in congested roads specially in urban areas. • Electric vehicles are more efficient in terms of generating usable energy from their electric engine's battery in comparison to the regular fuel conversion. In this way E Bikes and Scooters are innovative and efficient mode of personal transport. • Electric bikes or scooters use electricity therefore no emission of harmful gases like Carbon dioxide (CO2) or Nitrogen dioxide (NO2). Major Components of an Electric Bike or Scooter: ELECTRIC HUB MOTOR to drive the rear wheel directly and there are two types of Electric Hub Motor i.e. DC Brush Motor and DC Brush less motor having two basic parts namely Permanent Magnet Stator and Wound Rotor. ELECTRONIC MOTOR CONTROLLER is the central controlling unit of any Electric two wheeler provides electric power to the motor based on inputs from the accelerator. ELECTRONIC ACCELERATOR sends electronic signals to the Electronic Motor Controller to manoeuvre the bike or scooter. BATTERY PACK is like the fuel tank of E Bike or Scooter. There are different kinds of batteries like Lead Acid, Nickel Metal Hydrate (Ni-MH), Lithium, etc. that are used for supplying energy. BATTERY CHARGER is used to charge the battery pack of E Bikes or Scooters, just like a mobile phone or a laptop. Some battery chargers are in-built and some are separate that carried always on the move. The charger converts an AC supply to DC to store power in the battery and it can be used with any normal domestic AC plug point. This makes charging of battery pack easy and convenient. 11 Projectsformba.blogspot.com
  12. 12. Consumer Awareness and Perception towards E-bikes 3. INDUSTRY PROFILE: The face of auto industry that was redefined with the invention of fuel-efficient four-stroke engine technology is all set to see dawn of a new era in two-wheeler industry. It's not petrol or diesel or any other fuel, but its electricity that have initiated a revolution in two-wheeler industry in India. Indian two-wheeler industry has embraced the new concept of Electric Bikes and Scooters that are very popular mode of personal transport in the developed countries like America, Japan and China. With the rising cost of fuel at International and national level, increasing levels of pollution and congestion in 12 Projectsformba.blogspot.com
  13. 13. Consumer Awareness and Perception towards E-bikes transport system specially in Urban areas, higher running and maintenance cost of vehicle, the electrically charged bikes or scooters have very bright future in area of personal transportation. “It is estimated that India’s fossil fuel dependency on other countries currently from 70% to 82% in 2012. If we can have three lakh Electric Vehicles on the roads by 2020, including three-wheelers, cars, and scooters, this could result in a reduction of over 16 lakh metric tons of CO, NOx and HC by 2020 , savings of over Rs 3,700 crore in foreign exchange and significant health costs savings” Economic conditions around the world have been very encouraging. Global growth is increasing year by year .While the Chinese economy is growing at around 10% without any signs of slow down, the Indian economy is also continuing to grow at more than 8%. In the coming years, and Indian economy will be booming owing to the heavy demand on infrastructure. Energy sector is growing by leaps and bounds as it is receiving the highest attention of both the State Governments and Central Government. India has moved from an agrarian economy to a manufacturing economy. The manufacturing sector now contributes around one-fourth of the total GDP and the industrial output has now crossed USD 65 Billion in value.Global steel production is continuing its growth. In spite of some control measures adopted by Chinese Government the crude steel registered an impressive growth and has crossed 450 million tons. India is also witnessing a huge growth in steel production and it is expected that steel industry will continue to grow by more than 12% per annum. Sustainable economic growth of India as well as rest of the world will depend on effective energy planning. Nearly 40% of the world’s energy comes from petroleum. Natural gas contributes to another 20% and these two natural 13 Projectsformba.blogspot.com
  14. 14. Consumer Awareness and Perception towards E-bikes resources account for 60% of the world’s energy. The growth in consumption of oil and natural gas in the past has been such that the consumption has been doubling every 15 years. This trend is likely to continue and will lead to complete depletion of natural resources in next 30 years. It is significant to note that more than 20% of the world’s total primary energy is consumed in transportation. There are more than 410 million cars currently in the world and in another 20 years the automobile population will reach one billion mark. It is also significant to note that after 1970 the new oil discoveries have been very few and any new discoveries will not make any significant contribution to the world’s energy pool. Transportation sector which consumes a large share of energy resource of the country also contributes significantly towards pollution. So the main mission is to provide vehicles which are emission free, which do not use petroleum products and which are inexpensive to acquire and operate. Our launch of battery operated Bikes has been highly successful and Genxt is now developing several new vehicles for the Indian market. Our launch in India has developed interest for our vehicles for international market also and in the future we will be exporting these vehicles to other countries. Genxt will continue to provide leadership in this segment by delivering innovative, cost effective, practical and environmental friendly electric vehicles. Economic and environmental forces are frequently pitted against each other and many a times the financial cost of environmentally friendly technologies and goods is so high that one has to strike a balance or look for Government subsidies. Our Electric Vehicles are unique in this aspect as they are not only economical but also environment friendly. ORIGIN AND HISTORY: 14 Projectsformba.blogspot.com
  15. 15. Consumer Awareness and Perception towards E-bikes Most People are not aware of how long electric bicycles have been around you might think its something new since the recent fuel shortage and cost spikes we all hate, or even because of Global Warming and the whole go green awareness. But not true although it might be one reason for their recent surge in popularity also the technology has improved 10 fold.In the 1890s, electric bicycles were documented within various U.S. patents. For example, on 31 December 1895 Ogden Bolton Jr. was granted U.S. Patent 552,271 for a battery-powered bicycle with “6-pole brush-and-commutator direct current (DC) hub motor mounted in the rear wheel.” There were no gears and the motor could draw up to 100 amperes (A) from a 10-V battery. Two years later, in 1897, Hosea W. Libbey of Boston invented an electric bicycle (U.S. Patent 596,272) that was propelled by a “double electric motor.” The motor was designed within the hub of the crankshaft axle. This model was later re-invented and imitated in the late 1990s by Giant Lafree electric bicycles. By 1898 a rear wheel drive electric bicycle, which used a driving belt along the outside edge of the wheel was patented by Mathew J. Steffens. Also, the 1899 U.S. Patent 627,066 by John Schnepf depicted a rear wheel friction “roller- wheel” style drive electric bicycle.Schnepf's invention was later re-examined and expanded in 1969 by G.A. Wood Jr. with his U.S. Patent 3,431,994. Wood’s device used 4 fractional horsepower motors; each rated less than ½ horsepower and connected through a series of gears. Torque sensors and power controls were developed in the late 1990s. For example, Takada Yutky of Japan filed a patent in 1997 for such a device. In 1992 Vector Services Limited offered and sold an electric bicycle dubbed Zike. The bicycle included Nickel-cadmium batteries that were built into a frame member and included an 850 g permanent-magnet motor. Despite the Zike, in 1992 hardly any commercial electric bicycles were available. It wasn’t until 15 Projectsformba.blogspot.com
  16. 16. Consumer Awareness and Perception towards E-bikes 1998 when there were at least 49 different bikes. Production grew from 1993 to 2004 by an estimated 35%. By Contrast, according to Gardner, in 1995 regular bicycle production decreased from its peak 107 million units. Some of the less expensive electric bicycles used bulky lead acid batteries, whereas newer models generally used NiMH, NiCd and/or Li-ion batteries which offered lighter, denser capacity batteries. The end benefits usually varied from manufacturer; however, in general there was an increase in range and speed. By 2004 electric bicycles where manufactured by Currie Technologies, EV Global, Optibike, Giante Lite, Merida, ZAP. Electric bicycles are very common in many cities of eastern China, such as Yangzhou; in some areas they may outnumber motorcycles or regular bicycles By 2001 the terms, E-Bikes, power bike, pedelec, assisted bicycle and power- assisted bicycle where commonly used to describe electric bicycles. E-bike, according to Google, is a term that has increased in trend. This term generally referred to an electric bicycle which used a throttle. The terms Electric Motorbike or E-Motorbike have been used to describe more powerful models which attain up to 80 km/h. PEDEGO Electric Bicycles are taking the nation by storm, offering a stylish, and colourful electric bikes that use a throttle control for power. In a parallel hybrid motorized bicycle, such as the aforementioned 1897 invention by Hosea W. Libbey, human and motor inputs are mechanically coupled either in the bottom bracket, the rear or the front wheel, whereas in a (mechanical) series hybrid cycle, the human and motor inputs are coupled through differential gearing. In an (electronic) series hybrid cycle, human power is converted into electricity and is fed directly into the motor and mostly additional electricity is supplied from a battery. Pedelec is a European term that generally referred to an electric bicycle that incorporated a torque and/or a speed sensor and/or a power controller that 16 Projectsformba.blogspot.com
  17. 17. Consumer Awareness and Perception towards E-bikes delivered a proportionate level of assist and only ran when the rider pedalled. On the opposite side, a Noped is a term used by the Ministry of Transportation of Ontario for similar type vehicles which do not have pedals or in which the pedals have been removed from their motorized bicycle. Finally, Assist Bicycle is the technical term used to describe such a vehicle and Power-Assisted Bicycle is used in the Canadian Federal Legislation, but is carefully defined to only apply to electric motor assist, and specifically excludes internal combustion engines (though this is not the case in the United States). Today, China is the world's leading producer of electric bicycles. According to the data of the China Bicycle Association, a government-chartered industry group, in 2004 China's manufacturers sold 7.5 million electric bicycles nationwide, which was almost twice the year 2003 sales; domestic sales reached 10 million in 2005, and 16 to 18 million in 2006.[8] By 2007, electric bicycles were thought to make up 10 to 20 percent of all two-wheeled vehicles on the streets of many major cities. A typical unit requires 8 hours to charge the battery, which provides the range of 25–30 miles (40–50 km),[8] at the speed of around 20 km/h. A large number of such vehicles is exported from China as well (3 million units, worth 40 billion yuan ($5.8 billion), in the year 2006 alone) We are looking at practical and true figures of current Indian markets. Current year 2009-10 will end up with Indian total e-bikes sales at 120K bikes. Every year market is expected to rise initially by 100% and then by 200%. A lots of bikes we will see on the road in coming 5 years, just like bicycles and petrol scooters. As people started accepting the technology and limitations of e-bikes, a definite positive trends has started now. Due to collective efforts by manufacturers, Ads, PRs, dealership networks hard work, people accepting e- bikes in a middle segment between bicycle and petrol scooter. If you see both ends i.e. bicycles and petrol bikes are showing very attractive sales figures. The 17 Projectsformba.blogspot.com
  18. 18. Consumer Awareness and Perception towards E-bikes middle segment of e-bikes has turned now to enter in the high growth curve. Electric Bikes companies are highly optimistic about the e-bikes future. According to a survey India may surpass china in numbers of e-bikes sale by 6-8 years. Indian manufacturers of electric bikes, or e-bikes, are gearing up for what they call a second wave of growth for these “plug and ply” bikes. They say they are on the verge of launching faster versions of their bikes and this would blunt the edge of traditional two-wheeler bikes in the country. Electric bikes operate on a chargeable battery and do not require petrol to operate.All the e-bikes today do not require registration or license. This means they have to follow certain statutory norms that specify that the speed of such two-wheelers should not be more than 25kmph. “Some of the e- bikes companies are now all set to launch a new e-bike—that would have an engine of 750 watts, compared with 250 watt engines that existing e-bikes have. It would require registration and license to ride and the average speed would be 35-40 kmph. This would help explode the demand for e-bikes in India,” says Avinash Bhandari, director of Ahmedabad-based Electrotherm (India) Ltd one of the major Electric bikes manufacturers, He says “The real game would begin when we launch our high powered engine e-bike to compete with TVS Scooty Pep+ and Honda Activa”. Citing the reason for the new models, Bhandari said that potential buyers were apprehensive as they believed that a scooter has to look like a scooter and must carry more weight at higher speeds. “To a common user, performance and affordability is important. It does not matter what fuel is being used or no fuel is being used,” he added. Ganesh Mahalingam, managing director of Ultra Motors Co., another entity that manufactures e-bike in joint venture with Hero Electric of Hero Cycles group, 18 Projectsformba.blogspot.com
  19. 19. Consumer Awareness and Perception towards E-bikes says that they too are working on a faster electric vehicle that would have a speed of about 50-70kmph. “It would take us six more months but remember that the electric bike market has come of age only in last six months as, unlike in the west where e-bike is a lifestyle product and for some an environment friendly technology, in India it is an economical mode of transportation. Primarily it is an aam admi (common man) vehicle as it is 10 times cheaper to operate an electric two-wheeler that the traditional petrol bike,” Mahalingam said. Hero Cycles Ltd, like Electrotherm, launched its range of Hero electric ultra- powered electric two-wheelers in seven variants of e-bikes and e-scooters branded as Hero Electric and priced between Rs14,300 and Rs19,000. The e- scooters are in the range of Rs22,000-28,000. With no organized body to represent these manufacturers, industry players guess that there are between 75 and 80 players manufacturing e-bikes in India. Still, key hurdles remain for the e-bike industry.One of the major issues is that many small players are flooding the markets with a product that doesn’t meet statutory requirements. “They are not supposed to have a speed of over 25kmph, but many do as they use a motor of higher capacity. Some of them launch their vehicle and also give warranty but do not have adequate dealer or service network. They also do not have spare parts. All this creates a very negative image in the minds of people and can badly affect the growth of this industry in the medium and long run,” claims Bhandari. Electric bike manufactures are hoping that the creation of a strong dealer network and service support will help make a dent in the conventional two- wheeler market. 19 Projectsformba.blogspot.com
  20. 20. Consumer Awareness and Perception towards E-bikes 4. COMPANY PROFILE: The crowning glory of the company’s remarkable success is the fact that now it has become a full fledged limited company i.e GENXT Power India Ltd. It has been always believed customer as an important stock holder in business. Therefore consumer awareness is of prime importance to the organization. The objective of the study was to know about the awareness of electric bikes among the people and what is the perception of the users about the bikes and to explore how the sale of electric bike can be increased GENXT POWER (INDIA) LIMITED , was incorporated on September 26, 2002, having its registered office in Mumbai and its manufacturing unit at Vasai. Genxt has assembled various innovative technologies to manufacture the first Electric Two-wheeler to serve the personal and commercial need of the prospective Indian consumer. Genxt Power India Ltd, is a Mumbai based public limited company in the business of manufacturing and marketing of electric vehicles. It has been in the 20 Projectsformba.blogspot.com
  21. 21. Consumer Awareness and Perception towards E-bikes business of manufacturing and selling Electric Bikes since 2002. Main aim of the company is to provide cost- effective, environmentally friendly, stress-free, personal transport for work and recreation. As one of the well-known and professional manufacturers and exporters of electric bikes field, we are dedicated to producing the highest quality electric bicycles and tricycles as well as top normal bicycles not electric, the company uses only quality parts putting all our bikes together! Company is committed to providing its customers with the best quality and after service which will lead to our client's flourish development. Meanwhile, the company always focus on the details and ready to make any slightest changes which are required to meet our client's satisfaction. Because it deeply realize that the ability to dominate the market for electric bicycles will be won in the small details. All the production procedures strictly comply with ISO 9001-2000 standards. The company has its own IPS Technology (Integrated propulsion system). The company draws great strengths from its technological developments and patents in the related fields. Patents: Genxt holds patents for ‘Lead Plastic Composite grid for Rechargeable Lead Acid Accumulator (battery), ‘Inverter Circuit’, and ‘Rear Guard’ under Paris Convention. Battery Technology The company possess Patents for Plastic grid Bi-Polar Batteries which are designed to get charged to 90% of its capacity in about 20 minutes. Charger Technology The float cum boost technology has been used in our chargers so that when the charger is connected to the battery the output first goes to the boost charging mode and thus the battery will charge faster unlike that in a plain float charger. 21 Projectsformba.blogspot.com
  22. 22. Consumer Awareness and Perception towards E-bikes Mechanics and Mechanical design The world patented product ‘Rear Guard’ prevents a vehicle from rolling back on slope. The concept of this patent is used in drive mechanism of our electric vehicles. A four stroke IC engine without piston and cylinders is also developed for the hybrid model of our Ev’s. The most important differentiator of our technology is high density power batteries, fast charging mechanism and dependable and reliable electronic gadgets like charger and controller. Future Plans The Company plans to introduce variants of electric vehicles in 2 and 3 wheeler segment and also wish to foray in Hybrid vehicles. VISION, MISSION & QUALITY POLICY: Vision “To create an economically viable, noise and pollution free environment with the launch of battery powered Electric two wheeler and to be product leader through the state of art manufacturing technologies & processes” The Quality Is the Essence of Business; the Credibility Is the Way to Succes Mission Develop and provide metallurgical equipment, products and service at competitive prices, integrating best manufacturing practices and providing innovative and eco friendly technologies and products for the benefit of the society. Core Values: • Business ethics 22 Projectsformba.blogspot.com
  23. 23. Consumer Awareness and Perception towards E-bikes • Customer Focus • Professional pride • Mutual Respect • Speed and innovation • Excellence in manufacturing • Total quality Corporate Objectives: Business Portfolio Growth: o To further consolidate Genxt position as a leading supplier of metallurgical equipment in national and international market. o To grow its engineering capabilities by providing turnkey solutions to the customers and implement projects from concept to full commercialization. o To diversify across the electric vehicle business to become a leading player in battery operated vehicles in the country. o To establish a strong product and services brand in the domestic and international market. Customer Focus: o To develop a special relationship with customers to ensure not only customer delight but customer success. o To expand the relationship with existing customers by offering additional services in engineering, energy conservation strategies, environment protection technologies and best operating practices. 23 Projectsformba.blogspot.com
  24. 24. Consumer Awareness and Perception towards E-bikes o To expand the customer base by providing them with newer products. o To use customer feedback for design improvement and new product development. Dynamic Corporation: o To develop an agile and effective organization which adopts and adapts to the changes in business environment by continuously assessing the opportunities and encashing them and evaluating the threats to mitigate them. o To develop a learning organization having technology based competitive edge in current businesses and future initiatives. Performance: o To continuously improve the performance with emphasis on cycle time reduction and cost control in order to sustain long term competitiveness. o To improve on project execution time and cost to ensure long term viability. o To operate and maintain the manufacturing facilities at par with the best-run engineering and metallurgical companies in the world with respect to productivity,equipment availability, operational reliability and product quality. o To achieve quality by embedding the best practices in all systems and processes. Human Resource Development: 24 Projectsformba.blogspot.com
  25. 25. Consumer Awareness and Perception towards E-bikes o To enhance commitment of employees by rewarding and recognizing superior performance. o To imbibe a culture of team building, innovation, empowerment and openness in order to align all individuals towards the company’s goals. o To build and sustain a learning organization of competent world class engineers and professionals. Financial Soundness: o To continuously strive to reduce cost of capital through prudent deployment of funds. o To develop sound commercial policies which ensure reasonable returns and remuneration. Environment Protection: o To contribute to reduction in global warming and pollution by encouraging and developing environmental friendly technologies and products. o To become a lead player in developing electric and hybrid electric vehicles which not only lead to cleaner cities but also will reduce consumption of liquid fuel which is largely imported by the country. Research & Development: o To continue efforts in developing cost effective, reliable and efficient technologies for Indian and overseas customers. o To pass on the benefit of Research & Development to the customers. o To carry out research in development of alternate fuels and technologies 25 Projectsformba.blogspot.com
  26. 26. Consumer Awareness and Perception towards E-bikes PRODUCTS PROFILE: 26 Projectsformba.blogspot.com
  27. 27. Consumer Awareness and Perception towards E-bikes Tricycle Freedom Buggy 27 Projectsformba.blogspot.com
  28. 28. Consumer Awareness and Perception towards E-bikes AREA OF OPERATION: GENXT POWER INDIA LTD is mainly situated in Mumbai. The company was started in 2003 and it is gradually expanding nationally and globally. In Karnataka the company markets it’s through the authorised consignee Mahashoda Marketing, Hubli who market the bikes through Distributors situated in Gadag, Dharwad, Bagalkot, Davangere, Shirsi etc and it is still expanding its bases to other urban areas. COMPETITORS: Electrotherm India Limited: Manufacturer, exporter and supplier of electric bikes, hybrid electric bikes, hybrid electric vehicles, YO bykes, YO exl bykes, YO speed bykes, battery bikes, no petrol bikes, YO electron ER, YO style, YO electric bikes and YO smart. Emmel Wheelers: Manufacturer and supplier of electric bike, electric powered bike, battery operated electric bike, rechargeable electric bicycles, eco friendly electric bicycles and two wheeler electric bicycles. Euro II Services: Distributor of a range of electric bikes. Paradise Electro Auto: Manufacturer, supplier and exporter of electric bike. Mankoo Manufacturing Co: Manufacturer and exporter of electric bikes. Vijaya Value Electric Pvt. Ltd: Deals in manufacture of bike, electric bike, electronic bike, self start electric bike, eco friendly bike and electric two wheeler. Also supplies electric scooter, electronic scooter and self start two wheeler. 28 Projectsformba.blogspot.com
  29. 29. Consumer Awareness and Perception towards E-bikes Crazy E- Bike: Leading exporters and manufacturers of electric bike, high speed electric bike, stylish electric bike, electric motorized bike, electric power bike, electric powered bike, electrical bike, electronic bike and battery operated bike. Hero Electric: One of the India’s top Manufacturers of electric bikes. S. L. S. S. Group: Wholesale exporter of electric bike. The company ownership pattern: ThePromoters Mr. Laxmi Narayan Singh, age 43 years, comes from Science faculty. He has 25 years experience in the functional area of business development, marketing and sales. He is extremely proficient, having worked with multinationals like Pepsi, in devising marketing strategies, dealer network, budgets, targets, etc Mrs. Kamini Kanekar, age 28 years, comes from Commerce faculty and has about 10 years business experience. She is the main financial arm of the project and comes from a business family from Surat. AdvisoryPanel: Dr. Vishwas Panse, age 46 years, is a B. Com., L.L.B., M.A. (Economics), A.C.S., A.I.I.A. (U.S.A.) and Ph.D. (U.K.) in Business Management. He is an ex - IDBI Executive and has over 20 years experience covering diverse functions like Corporate Law, Finance and Management. Dr. M. S. Satyanarayana, age 55 years, is a B. E. (Mech.), M. Sc. (Engg.). He 29 Projectsformba.blogspot.com
  30. 30. Consumer Awareness and Perception towards E-bikes has expertise in Batteries and was associated with Aircraft Design Bureau, Hindustan Aeronautics Ltd., Bangalore. He was awarded the Ph.D. for his research work for his Thesis (Titled ‘Development of Light-weight Lead-acid Battery’) comprising mechanical, electrical and electro-chemical streams of engineering for the development of Battery Operated Electric Vehicles. Mr. Shankar Menon, age 55 years, is an IAS retired, ex-Additional Chief Secretary of Government Of Maharashtra. Mr. Kamlesh Mehta, age 45 years, B.Com, FCA, Senior Chartered Accountant with 20 years experience in Corporate Audit, Taxation and allied matters. Mr. R. Subramaniam, age 52 years, is a B. Com., M.B.A., Member of Consultancy Development Centre, Delhi. selected as a potential candidate of WHO’s WHO Historical Society of Boston USA, Professor in SIES Institute of Management Studies. TROT Graduate for Indian Junior Chamber. 30 Projectsformba.blogspot.com
  31. 31. Consumer Awareness and Perception towards E-bikes 5. McKinsey’s Seven ‘S’ Model The seven S framework first appeared in “the art of Japanese Management” by Richard Pascal and Antony Athos in 1981 they had been looking at how Japanese industry has been so successful, at around the same time that Tom Peters and Robert Waterman were exploring what made a company excellent. The Seven S model was born at a meeting of the four authors in 1978. It went on to appear in “In search of excellence” By the Global Management Consultancy McKinsey hence known as McKinsey’s Seven ‘S’ Model. 31 Projectsformba.blogspot.com
  32. 32. Consumer Awareness and Perception towards E-bikes Managers, they said, need to take account of all seven of the factors to be sure of successful implementation of a strategy – large or small .the ot5hers crash around you. Fail to pay proper attention to one of them it can bring the others crashing around you. And the relative importance of each factor will vary over time and you cannot always tell how that’s changing. Like a lot of these models, there’s a good dose of common sense here, but the seven S framework is useful way of checking that you have covered all the bases. The “Seven S”(7s) method of examining and understanding companies is a well-known tool available to managers, providing a succinct overview of the organisation. Having a broader view of a firm is important from a strategic, marketing, organizational behaviour and competitive perspective. At the highest level, the framework illustrates that the management, structure and strategy of an organization relates through a complex network of interdependent factors within the organization, each of which is individually and collectively important. The 7S model is a tool for managerial analysis and action that provides a structure with which to consider a company as a whole so that the organizations problems may be diagnosed and a strategy may be developed and implemented. The seven Ss is a framework for analyzing organizations and their effectiveness. It looks at the seven key elements that make an organization successful or not. The 7S are as follows: 1. Strategy: Strategy is created to maintain and make competitive benefit over the competition. 2. Structure: Structure is the way the organization is constructed and who reports to whom. 3. Systems: In systems the daily activities and events that staff members join 32 Projectsformba.blogspot.com
  33. 33. Consumer Awareness and Perception towards E-bikes in to get the job done. 4. Shared values: Shared values are also called “super ordinate goals”. These values are the centre values of the company that are evidenced in the corporate culture and the general work. 5. Style: you have to adopt the style of leadership. 6. Staff: In staff employees and their general capabilities are included. 7. Skills: Skills are the actual skills of the employees who are working for the company. How to use this model? Theory is the base of this model. If organization wants to perform well then these seven elements are needed to be associated and equally reinforced. If you want to change restructuring, new processes, organizational merger, new systems, change of leadership, then you will have to understand how organizational elements are interrelated. If you want to analyze the current situation and plan future situation, then you can use the 7S model. When you use the model you can identify gaps and inconsistencies between future and current situation. The whole books and methodologies are dedicated to analyzing organizational strategy, improving performance and managing change. This model is a good framework which helps you to ask right questions. If you want to use this model then you will require proper knowledge, skills and experience. You must have developed a mind tools checklist and a medium to keep track of how the seven elements are aligned with each other The 7S diagram illustrates the multiplicity interconnectedness of elements that define an organizations ability to change. The theory helped to change managers 33 Projectsformba.blogspot.com
  34. 34. Consumer Awareness and Perception towards E-bikes thinking about how companies could be improved. It says that it is not just a matter if devising a new strategy and letting them generate improvements. To be effective, their organization must have a high degree of fit, internal alignments amongst all the seven Ss are inter-related and a change in one has a rippled effect on all the others. It’s impossible to make progress on one without making progress on all. Thus, to improve their organization you have to pay attention to all of the seven elements at the same time. There is no starting point or implied hierarchy. Different factors may drive the business in any one organization. DESCRIPTION STRATEGY It is a plan an organization formulates to gain a substantial advantage over the competition. Strategy is the art of devising and employing a system of activities that mobilizes all resources towards a valuable goal. “strategy is the determination of basic long term goals and objectives of an enterprise, and the adoption of course of action and the allocation of resources available for carrying out these goals.” In other words, the route that the organization has chosen for its future growth; a plan an organization formulates to gain a competitive advantage. STRUCTURE Structure describes the hierarchy of authority and accountability in the organization. These relationships are frequently diagrammed in organizational charts. Most organizations use some mix of structures pyramidal, matrix or networked ones to accomplish their goals, a structure is the formalizing of relationships, roles and responsibilities in order to organize and perform work. 34 Projectsformba.blogspot.com
  35. 35. Consumer Awareness and Perception towards E-bikes In simple terms, structure is the patterns which various parts or components are inter-related or inter-connected. SYSTEM Systems refer to the processes used to manage the organization. System includes: • Management Information Systems. • Innovation Systems. • Performance Management Systems. • Financial Systems/Capital Allocation Systems. • Compensation System/ Reward System. • Customer Satisfaction monitoring activity. A System is defined process or set of processes that link and orders activities to enable work to be done and goals to be achieved. System in simpler words is the formal and informal procedures including compensation systems, management information systems and capital allocation systems that involve every day activity. STYLE Style of leadership or relationship refers to the manner in which an individual uses his or her talents, values, knowledge, judgement and attitudes to lead and relate to others. Style expresses the person’s character .Style is the leadership approach; also the way in which the organization employees present themselves to the outside world, to suppliers and customers. 35 Projectsformba.blogspot.com
  36. 36. Consumer Awareness and Perception towards E-bikes In simple words, a style is the pattern of behaviour, which a leader adopts in influencing the behaviour of his followers (Sub-ordinates) in the organization context. STAFF Staffing may be defined as filling and keeping filled positions in the organization structure. Staffing is done by identifying workforce requirements, inventory requirements etc. The task is fulfilled by recruiting, selecting, placing, promoting, apprising, planning the careers of compensating and training or otherwise developing both candidates and current job holders so that tasks are accomplished effectively and efficiently. SKILLS A Skill is the ability, knowledge, understanding and judgement to accomplish a task. Skills may be defined as what the company does best; the distinctive capabilities and competencies that reside in their organization. SHARED VALUES Shared values are what engender trust. Values are the identity by which a company is known throughout its business areas. These values must be explicitly stated as both corporate objectives and individual values. A shared value is an essential characteristic or attribute promoted by the organization to motive the behaviour of members of the organization. STRUCTURE FINANCE DEPARTMENT: 36 Projectsformba.blogspot.com
  37. 37. Consumer Awareness and Perception towards E-bikes The company has employed well qualified and experienced accounting and EDP professional on its roll for effective conduct of its rapidly expanding business. It has automated all accounting and inventory control functions both at its headquarters as well as its various branches. With all dealers and sub dealers connected to head office by e-mail, transmission of business data is done electronically on a daily basis resulting in adequate monitoring and control of the business activities throughout the country. HUMAN RESOURCE MANAGEMENT: Human resource management is a management function that helps manager recruit, select, train and develop members for an organization. Other functions performed are motivating people; imparting skills and attitudes to improve performance and also helping in setting up individual and organizational goals. MARKETING DEPARTMENT: Marketing department with its goal oriented and friendly approach has been successful in reaching most of the urban areas with the Genxt products. Relationship marketing strategies are well employed and thus are able to increase the sales, better distribution system and making the products available when needed and also like regular visit to the dealers has made Genxt products to market very easily. 5.2 SKILLS: Skills that marketing manager requires in this company are as follows: • Strategy Implementation. • Recruitment and training. • Communication skills, with fluency of local languages. 37 Projectsformba.blogspot.com
  38. 38. Consumer Awareness and Perception towards E-bikes • Performance review of employees. • Coordination with other departments. • Separate training for both staffs and workmen to develop their skills. • Motivating his subordinates. STYLE: The company follows the participative and democratic style of leadership in which all level of employees can react towards the achievement and report to the higher officials. Employees as a whole work together in a team to solve today and tomorrows problems in a significant manner. In Decision-making they: • Involve people in the company. • Take their freedom. • Do communicate to them. • Listen to their suggestions. • Accept their ideas. • Encourage their participation in management. STRATEGY: The company follows relationship marketing strategy .Where in a good relationship is maintained with customers i.e both dealers and customers. Relationship marketing has helped to retain existing customers and constantly maintain the sales. And also by motivating dealers by giving them incentives 38 Projectsformba.blogspot.com
  39. 39. Consumer Awareness and Perception towards E-bikes and awards like best dealer of the year etc . And also they involve dealers in the meetings and discussions. SYSTEM: ORDER EXECUTION SYSTEM OF GENXT ELECTRIC BIKES: • Here the marketing executives visit dealers regularly on weekly basis to take orders. • Dealers when they need the electric bikes, they place the orders to the marketing executives of their areas through telephone or when the marketing executives visit them. • The marketing executive processes the orders and supplies them. • Each area has main dealers or consignees where the inventories of electric bikes are kept. STAFF: Various duties and responsibilities of manager ; • Corporate presentation. • Coordinating domestic marketing activities. • Strategy implementation. • Recruitment and training. • Finance Tie Ups. • Performance review of executives. 39 Projectsformba.blogspot.com
  40. 40. Consumer Awareness and Perception towards E-bikes • Coordination with other departments. SHARED VALUES: The interconnecting centre of McKinsey’s model is: Shared Values. What the organization stands for and what it believes in; Central beliefs and attitudes. Genxt fosters teamwork and expects employees to be goal oriented, it has shared values like; • Commitment to total quality. • Cost and time consciousness. • Innovation and creativity. • Trust and team spirit. • Respect for individual. • Integrity. Commitment to total quality: The company shall accomplish their mission with  Absolute integrity and dedication.  Total customer satisfaction.  Honesty and transparency.  Courtesy and promptness.  Fairness.  Total quality.  Innovation creativity. 40 Projectsformba.blogspot.com
  41. 41. Consumer Awareness and Perception towards E-bikes  Trust and team spirit.  Respect for individual.  Humility SWOT ANALYSIS STRENGTHS: WEAKNESSES:  Most environment friendly bike  Not suitable for more range of with zero pollution. speed.(80+)  Only 7 paisa/km  Lack of awareness about electrical bikes.  No gear makes easy drive and comfort.  Very less advertisements about electrical bikes.  More safety oriented vehicle.  Saving of crude oil resources.  Huge capacity expansion to meet demand  Professional management.  Company is financially strong.  It has got strong distribution network. 41 Projectsformba.blogspot.com
  42. 42. Consumer Awareness and Perception towards E-bikes OPPORTUNITIES: THREATS:  Use of Electrical vehicles to drive  Large number of domestic exponential growth as its competitors. noiseless, less polluting and  Lack of electricity. environment friendly.  Increasing prices of raw  Launch of electrical three materials. wheelers.  Company is under pressure to  Fuel prices touching the highest cut cost to bring down the peak rates. prices of the bike because  Government subsidies for competitors are offering at low electrical vehicles. price.  People opt for change in new technology.  Proud of saving earth from global warming. 42 Projectsformba.blogspot.com
  43. 43. Consumer Awareness and Perception towards E-bikes RESEARCH METHODOLOGY TITLE OF THE PROJECT: “A study on consumer awareness and perception towards electric bikes with special reference to GENXT (India) Private Limited ”. STATEMENT OF THE PROBLEM: With increasing in air pollution in urban areas and scarcity of fuels Electric Bikes is in great demand but it is not used by most of the people because of lack of awareness. Thus the purpose of the study is to study the awareness level of consumers towards E-Bikes and also the perception of the users. Thus by creating awareness we can enhance the sales of Electric Bikes. OBJECTIVES • To find out the awareness of consumer about the electric bikes. • To find out the reason why consumer prefers to electric bike. • To find out the factor influencing the sales of electric bike. • To know the users perception about electric bikes. • To suggest measures to increase sales of electric bikes. DATA COLLECTION: The data collected for this study was collected from various sources. The main data collection instruments are of two types. a) Primary data collection b) Secondary data collection. Primary data collection:Primary data are those, which are originated currently with exploration, carried out within the stipulated period of time. These are fresh data’s collected in tune with the objective of the study. 43 Projectsformba.blogspot.com
  44. 44. Consumer Awareness and Perception towards E-bikes Method of study: Structured questionnaire comprising of multiple choice questions are used as tool. • Multiple choice questions makes easier for both field interviewer and respondents and it saves time. By this tabulations and analysis becomes much easier and simpler. Secondary data collection: These are the data that have already been collected by some other agency or researcher with the intension of using it for their own use. The source of secondary data being company’ records, distributors, dealers, university research bureaus, company’s data bases intended to discern the customer’s response pertaining to the various topics and public research studies. STATISTICAL TOOLS USEED FOR RESEARCH: • Percentage analysis • Bar graphs & pie charts • Weighted average Method of collection 1. Personal interview method. 2. Questionnaire method. 1. Personal Interview Method: Here face to face interaction takes place and are orally interviewed. Here this method plays a very important role, because the respondents are very much involved with their busy schedules, thus this is the very easiest and earliest way to get the questionnaire completed. 44 Projectsformba.blogspot.com
  45. 45. Consumer Awareness and Perception towards E-bikes 2. Questionnaire method: A questionnaire is used for the collection of data. And it consists of both close and open ended & multiple choice questions. SAMPLING DESIGN: Sampling unit : Users of two wheelers in north Karnataka Sampling size : 100 Sampling method : Non probability Sampling technique : Convenience sampling DATA ANALYSIS: The data collected was edited, coded and tabulated and the results were subjected to further statistical interventions. LIMITATIONS OF THE STUDY: Some of the limitations of the study may be summarised as follows  An underlying assumption for entire project is that the details and feedback received from population are true.  It was difficult to find respondents as they were busy in their schedules and collection of data was very difficult. Therefore study had to be carried out based on availability of respondents.  Some of the respondents were not ready to fill the questionnaire and some of them not ready to come out openly.  Due to confidentiality of certain information not all details could be obtained from the company. 45 Projectsformba.blogspot.com
  46. 46. Consumer Awareness and Perception towards E-bikes  Also the sample size of 100 may not truly represent whole population. ANALYSIS AND INTERPRETATION 46 Projectsformba.blogspot.com
  47. 47. Consumer Awareness and Perception towards E-bikes 1. Are you aware of Electric Bikes? Table no 1: Response No. of Responses Percentage Yes 74 74% No 26 26% Total 100 100% Graph no 1: 47 Projectsformba.blogspot.com
  48. 48. Consumer Awareness and Perception towards E-bikes INTERPRETATION: From the above chart it is evident that • 74% of respondents are aware of the electric bikes • 26% are unaware of the electric bikes. INTERFERENCE: This indicates that most of the consumers are aware about the electric bikes. Very few are unaware. 48 Projectsformba.blogspot.com
  49. 49. Consumer Awareness and Perception towards E-bikes 2) How did you come to know about Electric Bikes? TABLE NO 2: Source No. of Responses Percentage News paper/magazine 23 15% Television 12 8% Internet 76 49% Friends 34 22% Others 9 6% Total 154 100% GRAPH NO 2: INTERPRETATION: 49 Projectsformba.blogspot.com
  50. 50. Consumer Awareness and Perception towards E-bikes From the above graph it is evident that 49% of respondents came to know about electric bikes through internet, 22% came to know through friends, 15% through newspapers/magazines, 8% through television and 6% from other sources. INFERENCE: From the above it is evident that internet is the main source of awareness, next is through word of mouth from friends and family. There is not much of awareness created through print media or TVCs. 3) Which bike are you using presently? TABLE NO 3: 50 Projectsformba.blogspot.com
  51. 51. Consumer Awareness and Perception towards E-bikes Type of Bike Users Percentage Electric bike 24 24% Conventional bike 76 76% Total 100 100% GRAPH NO 3: INTERPRETATION: From the above graph it is evident that 76% of respondents use conventional bikes whereas 24% of people use electric bikes. 51 Projectsformba.blogspot.com
  52. 52. Consumer Awareness and Perception towards E-bikes INFERENCE: From the above it is evident that most of the consumers prefer to commute through the normal conventional bikes and only few prefer non-conventional bikes i.e electric bikes. 4) Which of the following factors encouraged you to buy Electric bikes? TABLE NO 4: 52 Projectsformba.blogspot.com
  53. 53. Consumer Awareness and Perception towards E-bikes Parameters No of responses Percentage Environment friendly 20 41% Less running cost 12 24% Safety 6 12% No registration 3 6% Others 8 16% Total 49 100% GRAPH NO 4: INTERPRETATION: From the above graph it is evident that 41% of the consumers bought Electric bikes due to its environmentally friendly nature, 24% due to its less running cost, 12% due to safety, 6% due to no registration and 16% due to other reasons. 53 Projectsformba.blogspot.com
  54. 54. Consumer Awareness and Perception towards E-bikes INFERENCE: It is evident from the above chart that its environmental friendly nature and less running cost makes people to go for Electric bikes. Even the safety and no registration factor also encourages people to opt for Electric bikes and also some other factors like no driving licence required and no gears also attracts people to buy electric bikes. 5) Did advertisement influence your buying decision? TABLE NO 5: Buyer decision Respondents No of responses 54 Projectsformba.blogspot.com
  55. 55. Consumer Awareness and Perception towards E-bikes Strongly agree 5 21% Agree 13 54% Neutral 4 17% Disagree 2 8% Strongly disagree 0 0 Total 24 100% GRAPH NO 5: INTERPRETATION: It can be interpreted from the above graph that 54% of consumers agreed to the fact that advertisements influenced their buying decisions while 21% strongly agreed to this fact 17% neutral and 8% disagreed. INFERENCE: 55 Projectsformba.blogspot.com
  56. 56. Consumer Awareness and Perception towards E-bikes It is evident from the graph that maximum numbers of E-Bike users were influenced to buying through advertisements. Hence more of advertisements need to be taken up in order to influence the potential customers. 6) What do you feel about price of the Electric Bikes? TABLE NO 6: Parameters No of responses Percentage Very high 7 29% 56 Projectsformba.blogspot.com
  57. 57. Consumer Awareness and Perception towards E-bikes High 9 38% Moderate 6 25% Low 2 8% Very low 0 0% Total 24 100% GRAPH NO 6: INTERPRETATION: From the above graph it is evident that 29% of the respondents feel that the price of Electric bikes are very high, 38% feel the price to be high, 25% feel the price to be moderate and only 8% feel that the price is low. INFERENCE: 57 Projectsformba.blogspot.com
  58. 58. Consumer Awareness and Perception towards E-bikes It is clearly evident from the above graph that maximum numbers of consumers feel the price of electric bikes to be high as compared to its features which are not that great compared to conventional bikes. Very few consumers feel the price to be in the moderate and low range. Thus the price of electric bikes needs to be lowered in case to increase the sales. 7) What is your opinion towards mileage of Electric Bikes as Compared to conventional bikes? TABLE NO 7: Parameters No of responses Percentage Very good 8 33% 58 Projectsformba.blogspot.com
  59. 59. Consumer Awareness and Perception towards E-bikes Good 6 25% Average 5 21% Bad 3 13% Very bad 2 8% Total 24 100% GRAPH NO 7: INTERPRETATION: From the above graph it is evident that 33% of respondents found the mileage of Electric bikes to be very good, 25% of people feel it’s good, 21% of respondents find it to be average,13% of them felt it bad and 8% of respondents the mileage to be very bad. INFERENCE: 59 Projectsformba.blogspot.com
  60. 60. Consumer Awareness and Perception towards E-bikes From the above graph we can make out that most of the respondents feel that Electric bike gives good mileage as compared to other conventional bikes. Only few felt that the mileage of conventional bike to be better than the Electric bike. Thus we can focus on this particular parameter while marketing the product to increase the sales. 8) What is your opinion towards speed of Electric Bikes as compared to conventional bikes? TABLE NO 8 : Parameters No of responses Percentage Very high 0 0% High 0 0% Moderate 3 13% 60 Projectsformba.blogspot.com
  61. 61. Consumer Awareness and Perception towards E-bikes Low 12 50% Very low 9 38% Total 24 100% GRAPH NO 8: INTERPRETATION: From the above graph it is evident that 13% of respondents feel the speed of Electric bike to be moderate as compared to conventional bikes,50% feel the speed is low and 38% feel the speed to be very low as compared to other conventional bikes. INTERFERENCE: 61 Projectsformba.blogspot.com
  62. 62. Consumer Awareness and Perception towards E-bikes The above graph clearly depicts that the users of the Electric bikes feel the speed to be very low as compared to other conventional bikes. They feel that the speed needs to be improved. 9) Are you convinced about Electric Bike benefits? TABLE NO 9: Parameters No of responses Percentage 62 Projectsformba.blogspot.com
  63. 63. Consumer Awareness and Perception towards E-bikes Yes 17 71% No 7 29% Total 24 100% GRAPH NO 9: INTERPRETATION: From the above graph it is evident that 71% of the electric bike consumers are convinced about the benefits of electric bikes whereas 29% are not convinced about the benefits. INFERENCE: 63 Projectsformba.blogspot.com
  64. 64. Consumer Awareness and Perception towards E-bikes From the above graph it can be analysed that most of the Electric bike users are convinced about the bike benefits whereas only few of them are not convinced. This proves that maximum numbers of consumers are happy with the product and its benefits. 10) Would you like to suggest electric bike to your friends? TABLE NO 10: Parameters No of responses Percentage Yes 18 75% 64 Projectsformba.blogspot.com
  65. 65. Consumer Awareness and Perception towards E-bikes No 6 25% Total 24 100% GRAPH NO 10: INTERPRETATION: It can be interpreted from the above figure that 75% users recommend the bikes to their friends while 25% would not recommend. INFERENCE: 65 Projectsformba.blogspot.com
  66. 66. Consumer Awareness and Perception towards E-bikes It is evident from the graph that most of the users of electric bike are willing to refer it to their friends. This is an indication of them being satisfied with the product. 11) Is the present promotional activity about Electric bike sufficient enough for you to make the purchasing decision? TABLE NO 11: Parameters No of responses Percentage 66 Projectsformba.blogspot.com
  67. 67. Consumer Awareness and Perception towards E-bikes Yes 19 25% No 57 75% Total 76 100% GRAPH NO 11: INTERPRETATION: From the above graph it can be interpreted that 75% of respondents feel the promotional activity not sufficient, & 25% feel it’s sufficient. INFERENCE: 67 Projectsformba.blogspot.com
  68. 68. Consumer Awareness and Perception towards E-bikes It is evident from the above graph that the promotional activities are not sufficient. Therefore various promotional activities need to be carried out in order to create awareness among the people and thus increase the sales of Electric Bikes. 12) Which of the following factors do you think are responsible for lower market share of Electric Bike as compared to Conventional bike? TABLE NO 12: Factors Responses Performance Appearance 24 17% 68 Projectsformba.blogspot.com
  69. 69. Consumer Awareness and Perception towards E-bikes Speed & Power 61 42% Battery life 38 26% Uncertainty of electric bike technology 22 15% Total 145 100% GRAPH NO12: INTERPRETATION: From the above graph it is evident that 42% of respondents feel speed&power as the major factor for lower market share of E-Bikes as compared to conventional bikes while, 26% feel battery life, 17% feel the appearance of the bike and 15% say it’s the uncertainty of electric bike technology for lower market share of E-Bikes as compared to other conventional bikes. 69 Projectsformba.blogspot.com
  70. 70. Consumer Awareness and Perception towards E-bikes INFERENCE: It can be analysed from the above graph that maximum no of consumers feel speed and power to be one of the main reason for their lower market share while some feel it’s because of the appearance and battery life. Only few consumers are uncertain about the electric bike technology. so in order to increase the market share the speed and power of E-Bikes needs to be improved and also battery life & the appearance of the electric bikes need to be improved 13) Which of the factors do you think that prevents you from making the decision of purchasing the electric bikes? TABLE NO 13: Parameters No of responses Percentage Expensive 39 26% Unaware 26 17% 70 Projectsformba.blogspot.com
  71. 71. Consumer Awareness and Perception towards E-bikes Not convinced 47 32% Non availability 18 12% Others (specify) 19 13% Total 149 100% GRAPH NO 13: INTERPRETATION: From the above graph it can be interpreted that 32% of respondents are not convinced, 26% feel expensive,17% are unaware,12% feel non-availability, and 13% other reasons which prevents them from making the decision of purchasing the electric bikes. INFERENCE: From the above graph it is evident that most of the respondents do not purchase the E-Bikes because they are not convinced about the electric bike technology 71 Projectsformba.blogspot.com
  72. 72. Consumer Awareness and Perception towards E-bikes or the benefits, and also because it is expensive. Awareness need to be created & the product need to be made available to maximum no of places. 14) Is after sales service availability affecting your purchasing decision of electric bikes? TABLE NO 14: Response No. of responses Percentage Yes 55 72% No 21 28% 72 Projectsformba.blogspot.com
  73. 73. Consumer Awareness and Perception towards E-bikes Total 76 100% GRAPH NO 14: INTERPRETATION: From the above graph it can be interpreted that 72% of respondents feel that after sales service availability affects their purchasing decision while 28% of respondents say it does not affect. INFERENCE: It is evident from the above graph that maximum no of respondents did not go for buying the electric bike due to the non availability of proper after sales 73 Projectsformba.blogspot.com
  74. 74. Consumer Awareness and Perception towards E-bikes service. Hence the after sales service need to be improved and service centre needs to be operated in major cities to overcome this problem. 15) Are you aware of electric bike benefits? TABLE NO 15: Response No. of responses Percentage Yes 45 59% No 31 41% 74 Projectsformba.blogspot.com
  75. 75. Consumer Awareness and Perception towards E-bikes Total 76 100% GRAPH NO 15: INTERPRETATION: It can be interpreted from the above graph that 59% of respondents were aware of the Electric bike benefits and 41% are unaware. INFERENCE: It is evident from the above graph that although maximum number of respondents are aware of electric bike benefits steps need to be taken in order to increase the awareness level about the benefits of Electric Bikes in the minds of consumers. 75 Projectsformba.blogspot.com
  76. 76. Consumer Awareness and Perception towards E-bikes 16) After knowing benefits of electric bike are you willing to purchase it in future? TABLE NO 16: Response No. of responses Percentage Yes 23 30% No 53 70% Total 76 100% 76 Projectsformba.blogspot.com
  77. 77. Consumer Awareness and Perception towards E-bikes GRAPH NO 16: INTERPRETATION: From the above graph it can be interpreted that 70% of respondents would not purchase Electric Bikes even after knowing the benefits of it whereas 30% would go for Electric Bikes. INFERENCE: It is evident from the graph that only few respondents are ready to buy the bikes after knowing the benefits but majority of them still prefer not to buy because of many reasons like they already have a bike or they want speed and power and few think its not sogood looking etc. 77 Projectsformba.blogspot.com
  78. 78. Consumer Awareness and Perception towards E-bikes Summary of findings: 1. It was found that most of the respondents are unaware about the Electric Bikes and their benefits. [Ref :Table no 1, Table no 9] 2. It was found that majority of the consumers came to know about electric bikes through internet and there are only few advertisements in newspapers and TVs. [ Ref : Table no 2] • It was found that maximum numbers of customers were influenced by advertisements while making their buying decisions.[ Ref : Table no 5] • It was found that most of the customers are not much satisfied with the price of the product, and Price quoted by the companies has affected the customer satisfaction to a great deal.[ Ref : Table no 6] 78 Projectsformba.blogspot.com
  79. 79. Consumer Awareness and Perception towards E-bikes • It was found that most of the customers were satisfied with the mileage of the Electric bikes and are convinced about the electric bike benefits and were willing to refer it to their friends.[Ref : Table no 7 & Table no 9] • It was found that most of the customers are not satisfied with after sales service. It shows that customers are dissatisfied about after sale service. [ Ref : Table no 14] • It was found that maximum number of the customers feel the speed of the Electric bikes to be very low and were not satisfied with the current speed of the bikes.[Ref : Table no 8] • It was found that non-availability of Electric bikes is also a reason for lower market share and consumers not purchasing it.[ Ref : Table no 13] • It was found that most of the respondents feel that the promotional activities for electric bikes are not sufficient to make the purchasing decision.[ Ref : Table no 11] • It was found that most of the respondents feel that the factors such as speed & power, battery life and appearance of Electric Bikes are the main reasons for its lower market share.[Ref : Table no table no 13] 79 Projectsformba.blogspot.com
  80. 80. Consumer Awareness and Perception towards E-bikes Suggestions: • Awareness needs to be created among the consumers regarding the Electric Bikes and their benefits.[ finding no 1] • There are only few advertisements in newspapers and TVs. Thus maximum advertisements need to be put up in these Medias as they reach wider audiences.[Finding no 2] • The price of the electric bikes need to be decreased it can be done by adopting sophisticated technologies and carrying out mass productions or some discounts on price or offers should be given in order to increase the sales.[ Finding no 4] 80 Projectsformba.blogspot.com
  81. 81. Consumer Awareness and Perception towards E-bikes • More number of service centres need to be opened at least in major areas to cater to the problems & needs of the customers when needed. [Finding no 6] • As most of the people prefer high speed the speed of the electric bikes need to be improved so as to increase the sales of the E-Bikes.[ Finding no 7] • We need to have more number of dealers covering major urban areas and the distribution network should be made strong.[Finding no8] • Promotional activities should be increased to create awareness and increase the sales. Like it should be displayed in auto shows and to attract more youths demonstrations and special offers should be given to college students.[ Finding no 9] • As appearance plays a major role for most of the customers while making purchasing decisions so the Electric Bikes need to be made more attractive.[ Finding no 10] 81 Projectsformba.blogspot.com
  82. 82. Consumer Awareness and Perception towards E-bikes CONCLUSION: From the study conducted it was concluded that maximum number of respondents are not aware of GenXT Electric bikes. So various promotional activities need to be taken in order to increase the awareness level & thereby increase the sales. The study also identified and evaluated the consumer perception toward various factor about electric bike. The result of this study shows that there is a combination of both positive and negative effect of that factor on consumer perception. Here most of the respondents consider the cost and the mileage while purchasing a bike, so there are ample potential to electric bike in two wheeler sectors. But their battery performance, speed and appearance are the major factors which is affecting the sales of electric bikes. The study explains what are the perceptions prevailing in the minds of customers and recommendations to create awareness through marketing campaign. The company can implement the suggestions to achieve the above said objectives. 82 Projectsformba.blogspot.com
  83. 83. Consumer Awareness and Perception towards E-bikes LEARNING EXPERIENCE The opportunity to work with the company given by the company officials was very helpful to me. I got to meet many players in the distribution field and discussed business with them which helped me to improve my communication as well as marketing skills. Apart from this i was able to understand the real scenario of the market and how things really work in the market. This made me taste the real flavours of working environment, work pressures, target achievements and other necessary skills required to be a good marketing manager. 83 Projectsformba.blogspot.com
  84. 84. Consumer Awareness and Perception towards E-bikes • From this study I got to know the importance and benefits of distribution channels i.e. how it helps organizations in distributing products and services to the end consumer. • I also got a firsthand experience of conducting marketing research and the issues involved with it. • I also gained knowledge about the dealer’s operations- training given to them by the company about the product. PROFITABILITY PROJECTIONS: (Rs. In lakhs) Particulars 2004-05 2005-06 2006-07 2007-08 2008-09 Growth in ----------- 63.27 38.73 27.9 0.4 total profits (%) Profit before 1646 2687 3728 5028 5047 tax 84 Projectsformba.blogspot.com
  85. 85. Consumer Awareness and Perception towards E-bikes Profit after 1152 1881 2609 3337 3351 tax Share capital 2700 2700 2700 2700 2700 Reserves & 1152 3033 5642 89880 12330 Surplus Total Debt 1000 00 600 400 200 Earnings per 4.27 6.97 9.66 12.36 12.41 Share (Rs) Sales (total 48000 72000 96000 120000 120000 no’s) Total Income 11245.1 16868 22490.3 28112.8 28112.8 Questionnaire Dear sir/madam, I am a student of “M.S Ramaiah institute of technology” pursuing my M.B.A program and as a part of curriculum, I am conducting a survey on “Consumer awareness and Perception towards Electric Bikes”. I request your free and genuine response to the following questionnaire. Information provided by you will be kept confidential and used for academic purpose only. Personal Details: Name: Age: Occupation: Questionnaire: 1. Are you aware of Electric Bikes? 85 Projectsformba.blogspot.com
  86. 86. Consumer Awareness and Perception towards E-bikes . Yes  No  2. How did you come to know about Electric Bikes? a. News paper/magazine  b. Television  c. Internet  d. Friends  e. Others (specify)  3. Which bike are you using presently? a. Electric bike  b. Conventional bike  If you are using conventional bike then please answer questions from 10-15. 4. Which of the following factors encouraged you to buy Electric bikes? a. Environment friendly  b. Less running cost  c. Safety  d. No registration  e. Others (specify)  5. Did advertisement influence your buying decision? 86 Projectsformba.blogspot.com

×