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AT
By:-Varun Jha
Batch 2015-17
ACKNOWLEDGEMENT
I owe a debt of gratitude to JK tyre & industries Limited for
giving an opportunity to practical exposure of corporate.
I am thankful to Mr. Pawan Kumar for giving me an opportunity
to learn in this organization.
I am grateful to Mr. Parinay Gusain who not only helped me in
the project but also taught me about the various traits of tyre
industry
Last but not the least I am thankful to all dealers and customers
for sharing their valuable information with me.
[Varun Jha]
DECLARATION
I VARUN JHA student of JK LAKSHMIPAT UNIVERSITY, JAIPUR Batch
2015-17 declare that every part of the Project Report Dealer and Customer
Satisfaction AT JK TYRE & INDUSTRIES Ltd. submitted by me is original.
I was in regular contact with my faculty guide and contacted many times for
discussing the project.
Signature
Dr. Kapil Arora
Faculty Guide
TABLE OF CONTENTS
S.No.
Particulars
Acknowledgement
Executive Summary
2
4
5
6
7
8
9
10
Page No.
2
Declaration
JK Brief Profile
26
52
Research Methodology
53
54-78
Conclusion
79
80
Suggestion
81
10
82
11.
83
12.
84-86
13.
Bibliography
87
14.
Annexures
89
4
Executive Summary
JK Tyre a prominent player in the tyre industry. As its expansion plan, JK Tyre
is planning to enter the two-wheeler market. The study was conducted to
understand the existing market practices and learn from the leaders. The report
aims at discovering various factors affecting customer satisfaction.
Understanding these factors will help develop better strategies to attract &
retain customers. The study also aims at identifying factors influencing
dealers satisfaction. Dealers/Retailers are the most prominent channel partners
as they directly interact with the customer and represent the company. For the
purpose of research the data was collected via interviews, observations and
structured questionnaire. The study has discovered that customers are highly
satisfied by (Price, Quality, Brand, durability). The dealers were most
motivated to push the products because of (Commission, New Scheme,
Service, Quality, and Brand). The company can also consider the importance
of the above discussed factors to improve their market interaction with dealers
and motivate customer to buy their products.
5
Introduction
see that all its customers are equally satisfied with them, for one single
dissatisfied customer will tell at least nine others about the dissatisfaction and
will spark off a chain reaction and spell doom for that company. In such
scenario, retention of the existing customers assumes diabolical proportion.
Research has thrown light on some important aspects of customers retention
it has been proved empirically that acquiring new customers can cost five
times more than the cost involved in satisfying and retaining current
customers.
In the past, the customers was taken for a ride, as there were not many players
in the fields, not much importance was attached to product safety, quality,
service and product appeal. The attitude of the manufacture was that of
caveat emptor. Thanks to the government policies on liberalization,
globalization and privatization (LPG), the market scenario has changed today.
Today, the customer has a host of defense mechanism like the customers
protection laws, regulation of the government, the powerful hands of the
organization, customers courts, switching to substitute or competitors that
offer at competitive prices, etc. The maxim, caveat emptor has been
replaced by caveat venditor.
7
In the past, after sales service was consider as a cost center, Companies were
lethargic in attending to customers complaints. Availability of trainee service
personal and quality genuine spare parts posed serious problems. However,
with the rising competition, there could not be much product differentiation,
as price and quality were comparable and latest technology was to each and
every company in the field. Since, there could not be much differential a
tangible assets, the companies concentrated on the intangible assets, namely
the service factor, which served as a major differentiator. Today after sales
service is an important aspect of every company, and it is no more considered
as a cost center, but considered as a profit center. Every organization strives
hard to retain its existing customers at any cost since it is five times costly to
get a new customers, then to retain an existing customers. Most of the
industries today use of information technology to best services to their
customers.
The origin of the Indian Tyre Industry dates back to 1926 when Dunlop
Rubber Limited set up the first tyre company in West Bengal. MRF followed
suit in 1946. Since then, the Indian tyre industry has grown rapidly. Indian
Tyre Industry now provides direct and indirect employment to nearly 1
million persons, including dealers, sub dealers, growers of Natural Rubber,
employment in raw material sector etc. A vast majority of dealers handle
multi-brands of tyres. Tyre companies also have exclusive retail distribution
outlets.
Indian tyres are meant, and expected to perform, under different and extreme
road conditions. Indian Tyre companies also follow a unique warranty system
whereby pro-rata adjustment is given for manufacturing defects through the
dealers. The Indian tyre industry has become one of the most competitive
markets in the world and with the help of new technology, ultra-modern
production facilities and availability of raw materials at lower rate, the sector
is set to grow further.
constitutes 80% while synthetic rubber constitutes only 20% of the material
content in Indian tyres, 62% of total Natural Rubber consumption is by the
Tyre Sector, balance by rubber based non-tyre industries. Interestingly, worldwide, the proportion of natural to synthetic rubber in tyres is 30:70.
Tyre Export:-
Manufacturer (OEM) demand for tyres in FY14. At the same time replacement
demand which constitutes around 65-70 per cent of tyre demand also remained
muted. Lower freight demand during past couple of years translated into lower
movement of commercial vehicles resulting in low wear and tear of tyres,
10
consequently low replacements during FY14 CARE Research foresees the domestic
tyre industry (replacement and OEM demand) to grow at a CAGR of around 9-10
per cent in tonnage terms. The growth would be driven by both OEM and
replacement demand led by the economic revival.
OEM demand would witness moderate improvement during FY15:OEM demand which formed around 32 per cent of the total domestic demand (OEM
and replacement) in tonnage terms during FY14 is likely to witness moderate
improvement during FY15 driven by expected economic revival on account of new
government formation. However, comprehensive revival of the OEM demand can
be seen a couple of years away until the economic concerns completely fade away.
CARE Research foresees Scooter and LCV tyres to drive demand for OEM segment.
Economic concerns would fade away in medium to long term; the revival is expected
in consumer spending as a result LCV demand would pose healthy recovery.
Moreover, rising demand from female buyers combined with its growing preference
among the urban middle and upper middle class male buyers as a second vehicle
would fuel demand for scooters.
11
Replacement demand is expected witness healthy growth during FY15:Replacement demand currently forms around two-third of the total domestic demand
for tyres in the country. CARE Research expects replacement demand to grow by 8
per cent during FY15. Strong growth in automobile sales in FY11 and FY12 would
transform in healthy replacement demand for tyres in the next 2 year period.
Moreover, dip in replacement demand growth was witnessed during FY14 as a result
of postponements of purchases owing to strained purchasing power on account of
high inflation and lower income levels. Consequently, delayed purchases would
come into picture during FY15.
T&B radials (TBR) to constitute almost half of the T&B category demand by
next
T&B radials (TBR) to constitute almost half of the T&B category demand
by next five years:CARE Research observed that during last 3-4 years, the radial tyres in T&B category
has witnessed strong rise in demand. The T&B category is currently one of the least
penetrated automobile segments by radialization. However, its penetration has
increased nearly three folds from around 7-8 per cent in FY10 to 25 per cent in FY14
(Estimated). The jump in the demand for radial tyres has been mainly due to
12
13
Motorcycle sales also will see better numbers, in 2016. According to data
released by industry body Society of Indian Automobile Manufacturers (SIAM)
in December 2015, the passenger car segment continued to be on growth track
for 14th consecutive month. Last month, the segment grew by 12.87 percent. The
M&HCVs segment is also doing well. For the month of September 2015, this
segment reported maximum growth of 63.76 percent.
According to data from ATMA, import of radial tyres has reached 1, 10, 000 units
per month between April-September, 2014.Heavy commercial vehicles
(M&HCVs) and passenger car segments. "M&HCVs and passenger car segments
of automobile industry have shaken off the recessionary phase and are posting
decent growth rates", he added M&HCV and LCV tyre production was down by
2 percent and 14 percent.
14
Domestic tyre industry expected to grow by 4%-8% over the next three
years: - The domestic tyre industry is estimated to have grown by 10%-12%
during 2014-15, supported by 7.0%-7.5% growth in OEM segment and 12%-15%
growth in the replacement segment. ICRA expects the tyre industry to report a
growth of 4%-8% over the next three years, supported by pick up in auto OE
demand across segment. Headwinds from the motorcycle and tractor segments,
weaker exports and Chinese imports would however persist over the next 12
months.
30%, 30%
OEM
60%, 60%
Replacement
Exports
Tyre imports surge in 2014-15 led by sharp inflow of two wheeler (2W) tyres
15
Tyre imports, after recording a sequential annual decline of 5.5% during the
period 2011-2014, grew by a sharp 19% (volumes) in 2014-15 led primarily by
surge in 2W tyres. ICRA expects the trend of rising imports to continue over the
near term with issues of capacity constraints in the 2W tyre segment and rerouting
of US bound Chinese exports to India, with the recent imposition of anti-dumping
duty on Chinese tyres in the US. Further, the anticipated spike in Truck and Bus
(T&B) imports in 2015-16 - with the February-15 sunset of the erstwhile AntiDumping Duty (ADD) on T&B imports is also expected to drive imports.
9%
23%
CV
PV
60%
2W
OTR
TRACTOR
Others
Tyre exports (value) de-grew by 0.7% for 2014-15; monthly volume trends
suggest weakening demand in key export destinations:- Exports on the other
16
hand, de-grew by 3%-6% (in volume) across segments owing to weak off-take
on the back of subdued global auto demand, especially in Africa and parts of
Asia. The global shift towards radials is also leading to a drop in exports as India
primarily exports cross ply. ICRA expects 4%-5% de-growth in tyre exports
(value and volumes) from India during 2015-16, assuming stable Currency
levels. That said, the levy of preliminary ADD by US on Chinese tyres may
provide some opportunities for Indian tyre exporters too.
Large scale capital expenditure in full swing across several product
categories: - In line with our expectations, the tyre industry witnessed
commencement of several large scale capex programs during 2015-16. ICRA
Estimates that the industry is currently witnessing investments in projects worth
over Rs. 56 billion wherein these capacities are likely to come on-stream over
the next 12 24 months (full ramp up in the next 12-18 months following
commercial production). Over the medium term, ICRA anticipates that, while
TBR capacities are expected to be absorbed in whole (gradually), utilizing of
redundant bias capacities could be a concern.
Favorable input costs drive industry margins to all time high:- The
industry is currently experiencing one of the best periods recording sharp
17
expansion in profits driven by low input costs. While Natural Rubber (NR)
prices trended up in Q4 2014-15 following policy measures, they are currently
trading lower at Rs. 120-130 (per kg) levels. Crude linked derivatives such as
synthetic rubber, carbon black and rubber chemicals too, despite rising in line
with in crude oil prices during 2015-16, remain favorable. However, we expect
the depleting NR stock and demand driven inflation to lead to higher input
costs over the next 12-18 months which would lead to correction in profit
margins to more sustainable levels.
Market is dominated by few large players, with MRF remaining the
leader:- Over the years, MRF has been the dominant player in the country
(estimated based on turnover) by virtue of its strong product capabilities apart
from focused branding efforts backed by a deep distribution network panning
across India and steady exports. However, several players (Apollo, JK and
CEAT in particular) have challenged its market share in recent years through
prudent brand management backed by sizeable investments in product
development / capacities. Global majors like Goodyear and Bridgestone have
also increased their share in India in recent years. Over the medium term, ICRA
expects the competitive intensity in the industry to rise with expected on18
7%
5%
1%
3% 4%
4%
12%
13%
29%
17%
MRF
APOLLO
JK Tyre
CEAT
Balkrishna
Birla
Bridgestone
Goodyear
TVS srichara
Metro
Others
Despite fall in realizations industry recorded expansion in profits in 201415:- During 2014-15, the industry posted a 2.6% and 0.6% YoY(Year over
Year) and sequential drop in revenues respectively as volume growth was
nullified by drop in realizations with tyre makers passing on benefits of softer
input prices. With the correction in input prices (both NR and other crude
derivatives), the industry recorded a healthy operating and net margins of
17.2% (up 340 bps) and 8.8% (up 550 bps) respectively.
Credit profile improves in 2014-15:- For the fiscal 2014-15, the industry
recorded a 6.9% YoY revenue growth following 5.8% growth in the preceding
fiscal. With the decline in NR prices, the industry wide operating and net
19
20
21
product, it offers higher margins to tyre makers compared to the old and wellestablished tubed tyres, where competition is far greater. They are cheaper to
manufacture as tyre makers save on the cost of making a tube. As the volumes
go up, cost savings can be as high as 5% of the material cost of a tyre. Tubeless
tyres are a superior alternative to conventional tyres. They offer greater comfort
in handling, reliability and fuel efficiency. Most importantly, they offer greater
safety at high-speed driving. Tyres bursting and flattening at higher speeds on
highways is a major cause of road accidents in India. Use of tubeless tyres
minimize these risks significantly. Consumers, on the other hand, are willing to
pay a premium for tubeless radials, thus providing greater margins to tyre makers.
Besides, tubeless tyres are the norm the world over and vehicle makers in India
are now gradually shifting to tubeless tyres from the conventional tube type ones.
22
B. PESTLE Analysis
is especially true in cities where working members of same family find it difficult to
survive without more than one car for transportation. With higher disposable
incomes, these families are finally able to afford this need.
Shifting Savings to EMI culture: Another notable trend that seems to be fueling car
sales (and therefore tyre sales) is the shift in the middle-class consumer saving
habits. The Indian middle-class family has long been known for its saving frenzy.
But with a younger workforce, higher disposable incomes, lower unemployment and
the influence of globalization, the average Indian middle-class family is slowly
warming up the idea of EMI and buying on credit. This has helped in furthering the
sales of passenger cars significantly.
Rubber has helped the farmers to get a steady income, and they are able to get good
money for their produce almost throughout the year. The best part about rubber is
that it can yield almost throughout the year, only except for a brief gap in summer
and here in winter. If the economic growth improves, then consumption of rubber
will also go up.
4. Technical factors
The Indian tyre market has attracted global manufacturers on account of encouraging
growth figures. These manufacturers are expected to invest huge amounts into the
industry over the next few years, with a major proportion of this investment directed
25
towards the Truck & Bus (T&B) radial tyre capacity expansion. As per the study,
several Greenfield plants are in pipeline to include new capacities. The
implementation of brown-field projects is executed to cater to the growing demand.
Greenfield units are expected to go on-stream in the coming years, just by the time
when there will be an urgent need to bridge an increasing demand-supply gap in
T&B radial tyre segment.
5. Legal Factors
Incidence of excise duty on tyres continues to be high around 24%, the same as on
luxury products like air-conditioners etc. In addition there are several local taxes and
levies imposed on tyres. Ultimate burden of high taxes falls on the consumer. Apart
from high Excise Duty, various embedded taxes (viz. Sales Tax, Cess etc.) take the
total tax incidence on tyres to an even higher level. Truck and Bus tyres are used in
vehicles for transportation of common man and goods. In February, 1988, as per a
directive of the Ministry of Industry, Embossing of MRP on truck and bus tyres was
started. This was based on the recommendations of the Committee on Tyre Industry
(1984, known as Satyapal Committee). In the last over 15 years, the economic
scenario has undergone a sea change with liberalization, removal of controls and
free global trade in most items. Tyre Industry is also deli censed. Major rawmaterials of tyre industry (Natural Rubber and petroleum based materials) undergo
26
6. Environmental Factors
Scrap tyres are about to become the latest headache for a government still smarting
from the debacle over its mountain. New ways will have to be found to dispose the
tyres that are stockpiled or put in landfills every year. The problem is huge. The
number of tyres in use is forecast to increase by up to 60% by 2021, as the number
of vehicles rises. Every day, 100,000 are taken off cars, vans, trucks, buses and
bicycles. It is widely estimated that there are now more than 200m lying around. By
their very nature, tyres are difficult to dispose of. They are designed not to fall apart
while you're driving along the motorway, so they are one of the more intractable
issues. Although tyres remain substantially intact for decades, some of their
components can break down and leach. Environmental concern centers on the highly
toxic additives used in their manufacture, such as zinc, chromium, lead, copper,
cadmium and sulfur. The environment agency is launching a campaign later this
month to alert the public and industry to the need to prolong the life of existing tyres
and find new recycling methods. The best use of tyres is probably to retread them,
but this is now expensive, and fewer than ever are recycled in this way. Around
27
48,500 tons are converted into "crumb rubber", used in carpet underlay and to make
surfaces such as those on running tracks and children's playgrounds. More
controversially, a further 18% are burnt as a "replacement fuel" in the manufacture
of cement. This is fast becoming the most popular way of disposing of them, but it
is of increasing concern to environmentalists and scientists. Tyre burning emits ultrafine particles that have a toxicity all of their own. The toxicity is even stronger if this
contains metals such as nickel and tin, which you get when you throw the whole tyre
into the furnace. If the metal content of the particles goes up, then there is going to
be an increasing impact on health.
C. Growth of tyre industries in India: The Indian tyre industry has been witnessing tremendous growth for the past few
years on account of growth in automobiles demand, especially in passenger
vehicles and two-wheeler segments. In fact, availability of raw material (natural
rubber) and ultramodern production facilities has led the country to emerge as
one of the worlds most competitive tyre markets. Driven by the strong demand
in automobile OEM sector and replacement market, the India tyre industry has
been witnessing stupendous growth from since the last two fiscal years.
28
During the course of our study, it has also been found that Indias market for
radial tyres in commercial vehicles section is still in its infancy. The passenger
car segment switched to radial tyres in a short period of time, with radial tyre
penetration level for the category reaching 100%. However, penetration level of
radial tyre has also started to increase rapidly in the light commercial vehicles
and truck & bus segment. This segment will be the largest growth area over the
next few years.
We have found that companies are also looking for overseas plantation of rubber
to meet their raw materials need which will help the companies to acquire raw
material at cheaper prices. Apart from this, we have done the tyre manufacturing
cost analysis in our report and found that raw material account for the major share
in total cost. In addition, we have separately analyzed various raw materials cost
in our report.
Further, tubeless tyres are gaining ground in Indian market as almost all the
automobile manufacturers are launching their vehicles with tubeless tyres. This
29
shows that tubeless tyre market will exhibit tremendous growth in the coming
years.
Our report, Indian Tyre Industry Forecast to 2015, evaluates the future
growth potential of Indias tyre industry, and provides statistics and information
on market structure, tyre production by segments, exports and imports trends.
Tyre market projections, in value terms, have been provided for all prominent
segments, including passenger cars, utility vehicles, multi-purpose vehicles and
two-wheelers.
Besides that, through the section of key players, we have tried to provide the
insight of current market scenario and existing competition to our customers.
Additionally, to provide clearer picture of competitive landscape, we have also
included future plans & strategy of key players coupled with the comprehensive
analysis of their strengths and weaknesses. All the above information covered in
report will provide clients with cutting edge market intelligence and help them
make sound investment decisions
D. Various types of Tyre segment:The Indian tyre industry produces the complete range of tyres required by the Indian
automotive industry, except for aero tyres and some specialized tyres. Domestic
30
manufacturers produce tyres for trucks, buses, passenger cars, jeeps, light trucks,
tractors (front, rear and trailer), animal drawn vehicles, scooters, motorcycles,
mopeds, bicycles and off-the-road vehicles and special defense vehicles. The
scenario in India stands in sharp contrast to that in the world tyre market, where car
tyres (including light trucks) have the major share (88%) by volume followed by
truck Tyres (12%).
Truck and Bus Tyres: - The truck and bus tyre segment accounted for 19% of tyres
produced in India in FY2015. Every truck/bus manufactured generates a
Demand for seven tyres (six regular and one spare) as against three in the case of
two-wheelers and five for passenger cars. In addition, the price of a truck tyre is
significantly higher than that of a passenger car tyre (roughly 10 times) or a
motorcycle tyre. Thus the demand multiple emanating from the commercial vehicle
segment is highest in value terms. Given the regular use and heavy wear and tear of
truck and bus tyres, the demand from the replacement market in this segment worked
out to 68% of the total demand for truck and bus tyres in FY2015; the OEM demand
accounted for around 9% the same year. With the Indian manufacturers of cross-ply
tyres focusing on the export market, this segment accounts for around 22% of the
demand for truck and bus tyres.
31
32
around 34% of the total sales in the scooter tyre segment in FY2015, with the rest
being accounted for by the replacement market.
Segment According to Vehicle Industry:-
Vehicle Manufacturers or OEMs:The demand from the OEM segment is a derived one and directly correlated
to the level of automotive production. The OEMs demand varies significantly
across categories from between 8% for truck and bus tyres to over 50% for
some other segments like, jeeps and mopeds.
Replacement Market :The replacement market, including State transport undertakings and Government
buying, accounted for around 61% of the total tyre demand in FY2015. The
33
demand in the replacement market depends on the vehicle population, the level
of economic activity, life of the products transported, kilo meter per vehicle, the
price of the tyres and the quality of the existing road infrastructure. Additionally,
the replacement market, which offers better margins, is extremely competitive.
The replacement market is dominated by the truck and buses segment, which
accounted for 22% of all tyre sales in the replacement market in FY2015.The
large size of the replacement in turn is determined by the interplay of various
factors as discussed below:The replacement demand may be lower because of longer replacement intervals
and lower business mileage if the economic activity slows down.
Strengths
Revival in economic activity:- After reporting falling car sales over the past
two fiscal Year, India's automotive industry had begun a gradual recovery as
customer sentiment improved following the general election in May 2015.
India's new government, led by Prime Minister Narendra Modi promising to
revive economic growth and kick-start investment. With economic growth,
demand revival likely to sustain in consumer durables, particularly in
automobiles, it would have a positive impact on the tyre sector. Besides,
emphasis on infrastructure in terms of development of roads will also increase
demand for tyres.
R&D (Research & Development) initiatives by top players:- With the
focus on providing better products and services, the Indian tyre manufacturers
are setting up well-equipped in-house R&D centers with emphasis on
developing cutting edge technology for compound development, development
of new designs for different segments, reinforcement materials, cost
35
Weakness
Highly capital intensive:- The tyre industry is highly capital intensive and
the level of technological expertise required is also highly specific. One
requires roughly Rs 400 crore to set up a radial tyre plant with a capacity of
15 Lakh tyres and around Rs 150-200 crore, for a cross-ply tyre plant of a 15
Lakh tyre-manufacturing capacity.
Fluctuation of exchange rate:- As most of the tyre companies are expanding
their operations around the globe there is a widespread impact of sharp
currency fluctuations. In simple terms, it shrinks the receivables of exporters
36
and makes life easier for importers as the prices of imports get cheaper. A
sharp fluctuation in the currency hits the small and mid-cap companies harder
than their larger peers, as the larger players can manage the situation through
actively managing (hedging) the currency and working with the scale. Eg.
Balkrishna Industries' approximately 90% revenues are generated through
exports and the Company also imports lot of its raw materials and capital
equipments; it is exposed to high risks due to currency fluctuations.
Pricing Pressures:- The tyre industry in India is a highly competitive sector
with a very cut throat competition among the leading players. Any rise in raw
material costs would result in pressure on the realizations and though the
players vouch to increase the prices, due to competitive pressures, they have
not been able to pass on the entire increase to the consumers.
Opportunities
Improvement in Automobile Industry prospect:- Growing economy leads
to improving Automobile Industry prospect which further leads to Increasing
37
of
infrastructure,
particularly
roads,
agricultural
and
manufacturing sectors, the Indian economy and the automobile sector/ tyre
industry are poised for an impressive growth.
Access to global sources for raw materials:- with the access to global
sources for raw materials, Indian tyre industry can stabilize price fluctuation
in raw materials and control their margins. Furthermore, Indian tyre
companies can also follow and maintain global quality standards and
international process and system certifications, which will help them during
export. Eg. Balkrishna Industries imports natural rubber and has very little
exposure to domestic rubber price fluctuations and thus margins have
remained strong.
Exploration of new markets:- Many Indian tyre companies are exploring the
opportunities to enter into new markets. Recently, Apollo Tyres confirmed
Hungary as the location for its first Greenfield facility outside India. The
company has decided to setup facility over there after receiving the necessary
approval from its board of directors on the proposed investment towards
setting-up a Greenfield facility in Eastern Europe. This facility will produce
38
both, Apollo and Vredestein branded tyres, and will cater to the entire
European market, and will complement Apollo Tyres' existing facility in the
Netherlands.
Threats
Introduction of other transport facilities:- Introduction of other transport
facilities like metro, monorails and local trains keeping pollution hazards
caused by combustion of automobile fuels.
Cheaper imports of Tyres:- The major concern for the Indian manufacturers
is that the price of the tyres in the overseas market like China and South Korea
is comparatively low compared to domestic market. Therefore, many
automobile manufacturers have switched to the option of importing tyres from
international market. The landed cost of tyres from China is much lower than
the Indian price. In addition, tyres from South Korea are imported at 30%
customs duty while from other countries the duty levied is 35%. Therefore in
both cases the Indian tyre manufacturers are on receiving end.
Expectation of rise in natural rubber prices:- Natural rubber prices, which
accounts for over one third of total raw material costs, are expected to rise as
39
Market Players
Some of the major players in the Indian tyre industry are MRF, Ceat, JK
Industries, Apollo Tyres, Bridgestone India, Goodyear India, Falcon Tyres
and TVS Srichakra, Michelin, BKT.
40
JK Brief Profile
About JK Organization
run by the Singhania family which rose to prominence in Kanpur, India, under Lala
Kamlapatji, a fighter for Indian independence who burnt up his stock of English
cloth on the call of Mahatma Gandhi during his satyagrah call against British rule.
Kamlapatji also set up the Uttar Pradesh Chamber of Commerce. The name JK is
derived from the initials of Kamlapatji (18841937) and his father Seth Juggilal
(18571922) who belonged to the family associated with the Marwari firm Sevaram
Ramrikhdas of Mirzapur .The JK group was founded in 1918.
The group rose in importance in the 1960s and 1970s when it occupied the third
position as an industrial conglomerate after the Birla and Tata conglomerates. The
family is currently divided into three main groups headed by 3 patriarchs namely
Dr.Gaur Hari Singhania based out of Kanpur, Shri Hari Shankar Singhania based
out of Delhi and Shri Vijaypat Singhania, based out of Mumbai. These three
patriarchs are first cousins who now run independent businesses. The Kanpur family
runs JK Cements, JK Techno soft, the Delhi family runs, JK Tyre, JK Papers, JK
Lakshmi Cement, Fenner India, JK Risk Managers & Insurance Brokers and the
Mumbai family runs the Raymonds group of companies. To maintain the family
history and legacy, the various family run companies though completely
41
independent and many publicly owned and listed subscribe to the JK Group Logo
and the oldest male member of the generation in power by tradition becomes the
President of the JK Group (The Association of Trade unions) and allots the logo to
companies run by various family members as and when the apply for membership
and pay an annual fee for the same.
Product of JK Organization
42
JK Tyre & Industries Ltd is an Automotive Tyre, Tubes and flaps manufacturing
company based in Delhi, India. The name JK is derived from the initials of
Kamlapatji (18841937) and his father Seth Juggilal (18571922).The company is
the market leader in Truck/Bus Radial tyre in India and is the only tyre manufacturer
offering the entire range of 4 wheeler radials for Trucks, Buses and Cars. JK Tyre
has a worldwide customer base in over 80 countries across all 6 continents. It is a
part of J. K. Organization group of Companies. JK Tyre acquired Mexican tyre major
Tornel in 2008. With state-of-the-art modern production facilities in all 9 plants,
total production capacity is almost 20 million tyres p.a. JK Tyre & Industries Ltd is
also part of the JK Organization, one of Indias leading private sector conglomerates
with multi-product, multi-location, multi-country and multi-business operations
founded more than 100 years ago.JK Tyre is one of Indias leading four-wheeler tyre
manufacturers and among the 25 largest tyre manufacturers in the world. JK Tyre
pioneered radial technology in India in 1977; the Company is the leader in the
countrys truck /bus radial segment today.
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44
Method, NVH and tyre-testing capabilities. This R&D facility is one of its kind
in Asia. HASETRI is India's first and foremost independent Research and Testing
Center, which fulfills the Nation's need for developing newer and better
technologies for Elastomer and Tyres. It is recognized under SIRO (Scientific
and Industrial Research Organization) by the Department of Scientific and
Industrial Research (DSIR), Govt. of India. It is also acknowledged by the Indian
Institute of Technology (IITs) and other universities for registration leading to
higher studies. Apart from the R&D facility there is also a Product Development
Cell present in the Faridabad facility. The Chennai operation is a joint initiative
of IIT Chennai and JK tyres.
45
JK
46
Organizational Structure
48
Price: - The price is the amount a customer pays for the product. It is determined
by a number of factors including market share, competition, material costs, product
identity and the customer's perceived value of the product. The business may
increase or decrease the price of product if other stores have the same product.
Place: - Place represents the location where a product can be purchased. It is often
referred to as the distribution channel. It can include any physical store as well as
virtual stores on the Internet.
49
51
SWOT Analysis:Strengths
Strong brand image
So many close competitors like Apollo, Birla, Ceat, Modi, Kaizen etc.
53
Competitors of JK Tyre:-
54
JK Tyre & Industries Ltd. the country's third-largest tyre maker, the company
plans to produce two-wheeler tyres in-house at the recently acquired Kesoram
Facility in Haridwar and will not outsource like many other. It to enter the twowheeler segment through the trading route as it steers clear of investing a fresh
in manufacturing facilities in a slowing auto market. JK is very optimistic about
the two-wheeler tyre market and plans to sell through the OE and after market
route. They are working on signing up with vendors and they are also exploring
both local and international vendors. They will service both the after market and
OEM (original equipment manufacturer) segment.
Tag line of two wheeler tyre is CHALLENGER (Har Challenge ke liye tyar)
which means don't let things stay the way they are, they go against something
already in place and they will ready for every challenge. Its a brand promise also.
Challenger Tyre Series for two wheelers. Costs less but comes with unmatched
performance, be it mileage, durability or better grip.
55
Marketing Strategies:-
Motorcycle
Scotty
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Scooty
57
2. Price: - The price is the amount a customer pays for the product. It is
determined by a number of factors including market share, competition,
material costs, product identity and the customer's perceived value of the
product. The business may increase or decrease the price of product if other
stores have the same product.
58
59
product catalogue and provide free tyre stand to dealer with unconditional warranty
strap.
60
61
2. CHALLENGER R42
62
3. Challenger R43
63
4. Challenger R45
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5. Challenger S61
65
6. Challenger S63
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Mission:The mission of MRF is that zero defect, zero break down, zero accidents, zero
pollution, and there by zero losses with their new performance standards.
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Objective:The main quality objective of the company is to attain global standards through the
continuous improvement in the quality of products and services and also to maintain
market leadership.
Goal:The main goal is to optimistic and continue to make investments in our existing
plants to increase overall revenue and share. Their products continue to be the
preferred choice of the customer even though many options are available in the
market. They are the first Indian company to supply aircraft tyres to the Indian
defense, joining the league of select global companies who have the expertise to
manufacture these tyres. Operations continue to be profitable and plans are afoot to
increase its revenue further.
Marketing Strategies:-
2. Place:- 7 plants located in various places in South India. 2,500 outlets in India
and exports to over 65 countries worldwide. Its distribution channels include:
Factories
3. Price:- MRF has been a leader in the Passenger Car tyre segment. By virtue of
their market share, they have traditionally been price makers. The rest of the tyre
industry has followed the pricing cues set by these leaders. Mark-up pricing is the
common pricing method followed across the tyre industry.
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2. CEAT
About the Company:Ceat Ltd. is a part of the RPG conglomerate.
The company offers the widest range of tyres to leading Original Equipment
Manufacturers across the world. They manufacture a range of tyres catering to
various segments. The company operates two plants in Maharashtra.
The company has a robust national network consisting of 34 regional offices and
over 3,500 dealers. The company has their presence in 110 countries.
Products are known for their superior quality & durability and are recognized as
being born tough. Presently focusing on catering to the fast growing passenger car
and two wheeler industry.
Vision:CEAT will at all times provide total customer satisfaction through products and
services of highest quality and reliability.
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Mission:To nurture an exciting and challenging work environment with fairness &
transparency.
Objective:To continuously focus on new product launches and has launched over a 100 new
products.
Goal:To out perform the industry and to emerged as one of the fastest growing tyre
companies in the industry.
Marketing Strategies:-
Product: - Product is the set of all product line and items that a particular seller
offers for sale to the buyer. Product line is a group of products that are closely
related because they function in a similar manner, are sold to the same customer
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groups, are marketed though same types of outlets of fall within a given price
range.
A companys product has a certain width, length, depth, and consistency
are: The width of product offers to how many different product lines the
company carries.
The length of product refers to total number of items in its product mix.
The depth of product refers to the total number of items in its product mix.
The consistency of product refers to how variants are referred of each product
in the line.
Price: - There are two types of pricing policy are: Skimming Price Policy:- This strategy involves setting a very high price,
so that in the initial stage cream of demand may be skimmed and enormous
Profits made for an indefinite period or the price may be covered later in
order to tap other segments of the market.
Penetration Price Policy:In this strategy a low price is set to reach the market immediately.
CEAT tyre has adopted penetration price policy. Because in consumer
products there are many competitors prevailing in the market. So it is not
possible to set a very high price in the initial period. Considering their
competitors policy CEAT tyre has adopted penetration price policy.
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Place: - The path through which goods and services travel from the vendor to
the consumer or payments for those products travel from the consumer to the
vendor. A distribution channel can be as short as a direct transaction from the
vendor to the consumer, or may include several interconnected intermediaries
along the way such as wholesalers, distributors, agents and retailers. CEAT has
one of the largest distribution networks for tyre in India. It has divided the Indian
sub-continent into 33 regions and has set up a regional office for each region.
SWOT Analysis:Strengths
Right products, quality, reliability. 100% vendors are ISO Certified.
Superior product performance.
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Weakness
Not very popular in International market.
Delivery staff needs training.
Opportunities
Profit margins will be good.
Could extend to overseas.
Threats
Vulnerable to reactive attack by its competitors.
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:-
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1. MRF
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2. Ceat
They are use Red color in sign board so they are more attractive.
Arrangement of stocks are good.
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Methodology
The data for the present study was collected from 20 dealers and 32 customers in
Delhi. The research instrument used in collecting primary data was a Questionnaire.
The questionnaire was prepared on the basis of information gathered from mentor
and sales officer of the company. The analysis of the information gathered has been
made on the basis of the clarifications sought during the personal discussions with
concerned people and perception during the personal visits to the important areas of
services. The collected data are analyzed on the basis of percentage methods and
presented through graphs.
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Analysis of Dealer Satisfaction Survey:The questionnaire that I prepared to survey the dealers contained 13 questions. But
the below analysis will focus only on those questions that are related to the subject
matter and that will give the best result of the survey. By the end of my internship I
had 20 dealers interviewed in Delhi. Few are authorized dealers and few are sub
dealers. The analyses of the key questions are given below:-
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3, 11%
MRF
9, 35%
8, 31%
CEAT
TVS
MECHILIN
BRIDGESTONE
APOLLO
CONTINENTAL
Observation: From the result it is evident that dealer almost equally push for MRF and Ceat
brands, followed by TVS and other brands.
Reason for push from dealer could be due to incentive or pull of brand may
also be working. As per dealers since customer always opt for OEM fitted
tyres until and unless customer has faced some issue with OEM brand.
MRF has the strongest presence in the market. It is popular in the market out
of every other brand. That why easily sell a tyre for dealers
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35%, 35%
31%, 31%
4%, 4%
JUMBO (TVS)
MILAZE AND SECURA ZOOM (CEAT)
ACTIGIP(APOLLO)
NYLOGRIP AND ZAPPER(MRF)
PILOT SPORTY (MECHILIN)
BATTLAX AUO(BRIDGESTONE)
Observation: From the collected results its been observes that MRFs Nylogrip and zapper are
most selling products. Whereas for Ceat it is Milaze and securagrip are fast
selling. As Nylogrip (MRF) capture a market 75%, second position was captured
a secura zoom (ceat). This tyre is preferred by customer because of good mileage,
good grip and good performance.
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4.5
4
3.5
3
2.5
2
1.5
1
0.5
0
Total
8
7
6
5
4
3
2
1
0
Observation:-
Total
From the graph it is evident that size of 100/90, 3.00-18 in rear and 2.75 in front
tyre are most selling. Reason for the same could be population of vehicle in which
said tyre size fits.
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1, 5%
0, 0%
Incentive / Commission
Customer Demand
12, 60%
Less Replacement
Easy Service
Best Quality
Observation: From the research done only two factors plays important role. First it is incentive
which accounts for 60% and second it is customer demand which accounts for
30%. Even dealer converts these 30% into first category by selling skills so that
his interest of getting incentive is safeguarded.
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10
9
8
7
6
5
4
3
2
1
0
MRF
CEAT
APOLLO
Series 1
TVS
CONTINENTAL
MECHILIN
Observation: From the research done its been found that customer pull for MRF is highest
followed by Ceat. It may be due to kind of advertisement and promotions done
by above said companies are higher than any other.
Also most of the new vehicles gets launched with MRF/Ceat hence customer
prefers even the same while replacement.
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Foreign trip
Cash Discount
Observation: From the data collected its been found that 90% dealers prefers cash discount
whereas only 10% dealers accounts for cash + gifts.
The dealers think this sort of schemes give them a motivation to do business
with a certain brand and to stay competitive in the market.
and almost all the companies do that. But if the company offers something
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that has never been introduced before, then the dealers might be interested in
availing such offers.
It may be due to high competition in market among dealers for better pricing.
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Sale commision
20%, 1, 5%
22%, 1, 5%
17%, 1, 5%
16%, 4, 20%
15%
16%
17%
20%
22%
Observation: From the survey done its been found that minimum expectation of dealers
are 15% whereas maximum it is 22%. Opinion of most of dealers of having
15% minimum sales incentive is for actual saving after sales. Hence having
discount for dealers in the range of 20-25% may work since in that case dealer
would be able to give additional discount of 10% to customer.
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Credit Days
6, 30%
1, 5%
30
45
13, 65%
Same Day
Observation:-
30-45 days of credit is being expected by dealers, it may be due to their current
terms with other manufactures. However having 30 days credit with two
rotations may work better.
security deposit
1, 5%
2, 11%
4, 21%
1, 5%
2 LAKH
1 LAKH
3 LAKH
11, 58%
10 LAKH
SAME DAY
15 LAKH
Observation: From the data collected dealers expect Rs. 2-3 lacks of security deposit.
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10, 50%
Unconditional warranty
Easy Replacement
Both
Observation: Its been observed that dealers demand for easy replacement or unconditional
warranty on tyres in order to have hassle free transaction with customer.
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Observation:-
Commission:-
Quality:-
Customer Demand :-
Services:
Measuring customer satisfaction:Organizations are increasingly interested in retaining existing customers while
targeting non-customers; measuring customer satisfaction provides an indication
of how successful the organization is at providing products and/or services to the
marketplace. Customer satisfaction is an ambiguous and abstract concept and the
actual manifestation of the state of satisfaction will vary from person to person
and product/service to product/service. The state of satisfaction depends on a
number of both psychological and physical variables which correlate with
satisfaction behaviors such as return and recommend rate. The level of
satisfaction can also vary depending on other options the customer may have and
other products against which the customer can compare the organization's
products.
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Improving Customer Satisfaction:The International Customer Service Institute (TICSI) has released The
International Customer Service Standard (TICSS). TICSS enables organizations
to focus their attention on delivering excellence in the management of customer
service, whilst at the same time providing recognition of success through a 3rd
Party registration scheme.
TICSS focuses an organizations attention on delivering increased customer
satisfaction by helping the organization through a Service Quality Model.TICSS
Service Quality Model uses the 5 P's - Policy, Processes, and People, Premises,
Product/Services, as well as performance measurement. The implementation of
a customer service standard should lead to higher levels of customer satisfaction,
which in turn influences customer retention and customer loyalty.
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Analysis of Customer Satisfaction Survey:Next I prepared a questionnaire through which I surveyed the customers.
Altogether, it had 22 questions. But again my analysis will focus only on those
questions that will give me a good insight on the satisfaction level of the
customers. I interviewed 32customers.
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Credit Purchase and Warranty and Claim Policy), tubeless tyre prefer or not
and also asked them if they have anything else in their mind and told them to
mention that as well.
2, 6%
Ceat
10, 32%
MRF
Apollo
Mechilin
18, 56%
Others
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(3% respondent prefer Michelin tyre for better claim policy, better
quality and also flexible.
(3%) respondent prefer others brands. Undoubtedly the answer was
MRF tyre and they also cleared out the reasons why they use such
brand. Different opinions came up. Most of them them said that they
are old user of MRF.
o MRF came quite early in the market and has established a strong appearance.
It has earned much dependency of its customers. Again, they said that since
it is an Indian company they know about the condition of our roads. Its good
quality has earned much acceptance too.
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0, 0%
6, 19%
17, 55%
3, 10%
Brand Name
Price
Durability
Others
Observation: For the above Pie Chart it is shown that 55% of the respondents prefer
the brand for brand Name because Word of mouth is any apparently
informal communication about the product by ordinary individuals,
satisfied customers or people specifically engaged to create word of
mouth momentum.
19% of the respondents prefer provide best quality because after brad
name generally new customer those are not aware. They are prefer
quality. I quality is good than customer interest are generate to purchase
prefer brand.
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99
5, 16%
Service
4, 12%
Less Erosion
Milage
19, 59%
Claim
2, 6%
16, 50%
11, 35%
2, 6%
Better Grip
Brand value
Good quality
Reliable
Affordable Price
Observation: For the above Pie Chart it is shown that 50% of the respondent are
prefer better grip.
35% of the respondents are prefer good quality.
6% of the respondents are prefer brand value
3% of the respondents are prefer affordable price.
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Claim Policy
1, 3%
3, 9%
2, 6%
Ceat
12, 38%
MRF
Apollo
14, 44%
mechilin
Others
Observation: -
For the above Pie Chart it is shown that 44% of the respondent are
prefer MRF.
38% of the respondents are prefer Ceat.
9% of the respondents are prefer Michelin.
6% of the respondents are prefer Apollo.
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Yes
No
Observation: -
For the above Pie Chart it is shown that 75% of the respondent are
prefer say YES.
25% of the respondents are prefer say NO.
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0, 0%
22, 69%
Very Important
Important
Not Important
No Idea
Observation: For the above Pie Chart it is shown that 69% of the respondent are
prefer very important.
31% of the respondents are prefer important. The result of this question
came out with a positive response from all of them. They all agreed
that after sales service is very important in this industry. As the dealers,
their answers were almost the same.
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Other
Observation: For the above Pie Chart it is shown that 47% of the respondent are
prefer change tyre within 24/48 hours.
31% of the respondents are prefer tyre claim (tyre return of tyre)
(Replace) within the given warranty period.
22% of the respondent are prefer nearby service center so that if they
face any problem they do not have to go far but can solve their problem
in nearest service centers.
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7, 17%
5, 12%
4, 9%
MRF
16, 38%
CEAT
Apollo
Mechilin
10, 24%
Breidgestone
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Lack of informations
26, 81%
No Problem
Observation: - For the above Pie Chart it is shown that: 81% customer faced no problem.
10% customer faced the problem due to lack of information.
9% customer faced the problem due to delay.
No customer faced the problem due to non-cooperation of show room
people.
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32, 100%
Tubeless Tyre
Tube Tyre
Observation: For the above Pie Chart it is shown that 100% of the respondents are
prefer tubeless tyre no one prefer tube tyre because In case of puncture
in tubeless tyre, loses air slowly allowing to keep riding until one
reaches a service area. It is good for safety and low maintenance. It is
easy to repair. The life of tubeless tyre is longer in a comparison of
tube tyre.
In a tubeless tyre and rim of the wheel form an airtight seal, with the
valve being directly mounted on the rim. If a tubeless tyre gets a small
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Others
6%
Better promotional
activity
91%
Observation: For the above Pie Chart it is shown that 91% of the respondents are
prefer better promotional activity.
3 %of the respondents are prefer Discounts.
6% of the respondents are prefer others things.
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Conclusion
During this marketing research, I have learnt lot of thing. It was really a great
experience, while doing project report on JK tyre, how to explain them to fill
up questions and what kind of complains are raised by customers and Dealer
during marketing research. This task is learning through only practical study.
It was really a nice experience to do project on JK tyre entering in two
wheeler segment and work with Parinay Gausain. That is really good.
In my report I have research on an Analysis of Dealer and Customer
Satisfaction.
Customers demands are less of JK Tyre in a compared to other tyre
industries because due to less advertisement activities in compare of
other tyre industries.
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Most of the Dealer are not very happy with JK Tyre because they say
improve a quality and increase branding activities.
Summer internship has helped me to gain the knowledge about the Tyre
sector as well as channel sales methodology.
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SUGGESTIONS
(To the Board of Directors)
Advertisement:-JK Tyre should spend more on advertisement activities
to attract those customers who does not know about JK Tyre. If you see
MRF Company they can spend more and more money on Advertisement
and promotion campaign and thats why they can increase customer
through advertisement activities and also his advertisement are more
attractive in compare of other tyre brands.
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Margin:-Dealer are getting very high margin from the other brands so
the company should also take care of it Dealer expectations so that it will
fulfil their needs and keep them satisfied.
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During the course of my internship, I came across to certain things that gave me a
idea about the organization and its work. There were some good sides of the working
process but at the same time the organization is lacking at some of the areas that
ultimately leading towards dealers dissatisfaction to some extent. The problems that
I felt during my term after interviewing the dealers and customers was mostly related
to the branding of the product, polices and promotion/awareness about the product.
And according to my opinion these are effecting the sells and also impacting
negatively on its customers. Here, I tried to point out some of those findings: In terms of doing business or purchasing a particular brand, there are some
influential factors that affect both dealers and customers buying decisions.
From dealers side, it is the demand of the market and from customers side
price, quality and mileage. Along with these things there are some other
factors too.
Again, one of the issues that JK is facing is the lack of knowledge of the
dealers as well as the customers. Most of them are holding the idea that JK
Tyre is an old company that has started its business long ago and does not
coming up with new pattern and not upgrading them according to market
requirement.
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As said earlier, some of the Chinese Tyre brands have earned a lot of
popularity because of its lower price. And people are influenced to buy that
regardless of the quality.
The presence of JK Tyres in the market is from long term. But while meeting
the people I get to know that many people do not prefer JK Tyre because of
lack of awareness and advertising and promotion activities.
Chinese and other foreign companies tyres presence in the market. For
example:- Michelin, MRF and CEAT etc. They have become popular because
of their low price and brand image on international level somewhat good
quality. Therefore, people are considering them over JK Tyres.
The claim process is considered to be very hectic and tiring. When most of
the customers are on rush this slow process has given them more problems
instead of relief. Then again, the vehicles that are on high way, it is not
possible for them to execute this process.
Another issue that dealers pointed out is that though they are satisfied with the
quality of JK Tyre but there should be some activities that would increase the
demand of the product.
Additionally, they asked to make the policy a bit easier especially the
business so that they can do the business more smoothly and make the policy
transparent for all the dealers.
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internship of 6 weeks, I was able to get a valuable exposure of the corporate world.
The major learnings were:
117
118
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METHODOLOGY
WEEKWISE DESCRIPTION OF ACTIVITIES
120
DAY 1- Completed
DAY 2- Completed
DAY 3- Completed
DAY 4- Complete
DAY 5-Completed
Cards of Dealers
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BIBLIOGRAPHY
www.google.com
www.wikipedia.com
www.slideshare.com
http://www.htmlpublish.com/newTestDocStorage/DocStorage/17e2e05c65e
c4a5d9ce8abbd87896b05/SH-2015-Q3-1-ICRA-Tyres.rtf
http://www.atmaindia.org/production-export-trend.html
http://www.mrftyres.com/services/tyretok
https://www.google.co.in/forms/about/
http://www.jktyre.com/productselector.aspx
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Annexures
QUESTIONNAIRE
DEALERS SATISFACTION SURVEY
1.) Which companys tyre are you dealing most in two wheeler tyre?
a.)MRF
B.)Ceat
C.)Mechilin
D.)Apollo
2.) Which factor influences you the most to deal with particular brand?
a.)Profit
b.) Quality
c.) Customer Demand
d.) company policy
3.) Which product (of your preferred brand) do you sell the most?
a.)Jumbo
b.)Miaze
c.)Actizip
d.)Nylogrip
4.) Which size of tyre do you sell most?
a.)2.75
b.)3.50
c.)3.00
d.)100/90
5.) What kind of sale policy would you like most?
a.)Gift
b.)Foreign trip
c.)Cash Discount
6.) How much sale commission do you expect from Tyre industries?
7.) How much credit days do you expect from Tyre industries?
8.) How much security deposit expect from Tyre industries
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QUESTIONNAIRE
CUSTOMERS SATISFACTION SURVEY
1.) Which of the following tyre do you use?
A.)MRF
B.)Ceat
C.)Apollo
D.)Michelin
E.)Others
2.) What are the factors influence your decision to purchase a particular brand
of tyre?
A.) Brand Name
B.) Price
C.) Provide Best Quality
D.) Durability
3.) Which feature do you prefer in a particular brand?
A.) Service
B.) Mileage
C.) Less Erosion
D.)Other
4.) Which company provide best claim policy?
A.)MRF
B.)Ceat
C.)Apollo
D.)Michelin
7.) What type of 'after sales service' you are looking for and also give reason?
A.) Nearby service center
B.) Tyre claim (tyre in return of tyre)
C.) Change tyre within 24/ 48 hours
D.)Other
8.) Are you satisfied with the current Tyre you are using?
A.)Yes
B.)No
9.) What problems faced while purchasing Any Tyre?
A.) Lack of informations
B.) Non co-operations of show room peoples
C.) Delay
D.) No Problem
10.) Which tyre do you like most (tubeless and tube) and also give reason?
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