TWO-WHEELERS
: 2020
A FORECASTING, SEGMENTATION AND PERFORMANCE AND IMAGE EVALUATION STUDY
(The twelfth round since 1999)
The
study provides 4 separate reports covering the following aspects of the Two-Wheeler market :
1] Demand analysis:
The
report forecasts the demand for two-wheelers in India, taking into account the
purchases in 2018, 2019 and 2020 and the changes in options, pricing and
environment that have taken place since the previous round of the study in
2017.
Similarly,
the forecast by different types of two-wheelers has also been recast. The
forecast is being provided from 2021-22 till 2023-24 at the all-India and state
total levels.
2a]
Segmentation Analysis:
The
report provides a detailed segmentation analysis of the two-wheeler market in
2018, 2019 and 2020 and integrates it with the analyses done upto 2017, to
identify trends and turning points, if any, across segments.
The segmentation objectives were to estimate the following:
|
1] |
How big is each segment? |
|
2] |
How has each segment been growing over the years? |
|
3] |
Which are the types of vehicles that the segments have been buying
over the years? |
|
4] |
What is the distribution of the segments across population strata? |
|
5] |
What is the profile of each segment? |
The segmentation variables are:
| 1] |
Specific need that led to the purchase of the two-wheeler
|
| 2] |
Circumstances leading to the purchase
|
| 3] |
Main purpose of purchase
|
| 4] |
Funding of the vehicle
|
| 5] |
Average no. of kilometres respondent rides everyday
|
| 6] |
Whether two-wheeler purchased for family / personal use
|
| 7] |
First time/second time/third time buyers
|
| 8] |
Height of the person
|
| 9] |
Build of the person
|
| 10] |
Extent of dependence of the buyer on the two-wheeler
|
| 11] |
Sex
|
|
| 12] |
Age
|
| 13] |
Education
|
| 14] |
Occupation
|
| 15] |
Marital status
|
| 16] |
Stated monthly household income
|
| 17] |
Economic status
|
| 18] |
Socio-economic status of the buyer
|
| 19] |
Current riding style of respondent
|
| 20] |
Mode of commuting before the purchase of the first two-wheeler
|
| 21] |
Other vehicles owned in the household currently
|
|
2b]
Cluster Analysis:
The report provides a classification of various
brands of two-wheelers into clusters, based on 14 variables defining the buyer
of the vehicle. This analysis leads to a natural classification because the
groups are not defined a priori, but are formed based on the similarity of the
buyers on these 14 variables.
The clusters then become the most fundamental way
of customer segmentation of the two-wheeler market. And it follows that the
cluster defines the following:
|
|
a] |
It defines the specific customer segment in which the brand
competes. We could juxtapose this segment against all two-wheeler buyers to see
characteristics which are different for this cluster. In other words, it
defines who our customers really are.
|
|
|
|
|
b] |
It defines the brands against which it competes directly.
This follows from the fact that a brand competes the most with other brands
that compete for the same kind of customer. |
|
|
|
|
c] |
Most importantly, the cluster defines the size and growth of
the market that the brand addresses specifically. Because the clustering does
not happen the way we presume that it should, the size of the market that is
directly addressable by our brand is not the same as what we presume that it
would be. |
|
|
|
|
d] |
By defining the vehicles with which we compete directly, the
clusters also define where our markets are and what their distribution is. And
that would be the very basic information that we need for targeting and related
resource allocation. |
|
|
|
3]
Evaluation of Motivations for Purchase, Performance and Image of Individual Brands (Tracking
study of two-wheelers):
With a sample of over 15,000 two-wheeler owners who bought their vehicles in 2018,2019 and
2020, this report provides a comprehensive analysis of the motivations for
purchase, vehicles considered as options, perceptions related to performance of
the vehicles and their image.
The main advantages of this report are as follows:
|
1] |
The sample is rendered nationally representative covering 16
states and 5 population strata.
|
|
|
|
|
2] |
The findings on individual brands will have for comparison
every single major brand in its category and otherwise.
|
|
|
|
The sample sizes of the significant brands will allow us to do a detailed analysis of
their status vis-a'-vis competing vehicles.
4]
Penetration of two-wheelers:
This report provides a detailed analysis of the penetration of two-wheelers among households and individuals across the country, and within the states and population strata
