A Study of Business Performance Management in Special Reference to Automobile Industry

Abstract

In contemporary times, the automobile is one of the well-paid industries in the Indian market with an annual growth rate of 7.64% in the passenger-car market. The increasing disposable income of the people along with the ever-growing financial sector has led to this expendable growth. In accordance, there has been an increase in sales of passenger cars from 13.35% in –July 2018. This oligopoly market has fierce competition due to new entrants into the Indian markets. Thus, there emerges a need to grasp the knowledge to understand the ever-growing needs of the customers and dynamism in the technology-driven market. Every organization seeks to study consumer buying behavior and measure its business performance by analyzing customer perception toward the product. The understanding of customer’s perception is an ongoing process to survive the cut throat competition. Taking this into consideration, the study provides insights about several attributes which drive a consumer behavior toward buying a product of a brand. The study has used theories and exploratory research design along with analytical tools to identify the major attributes of consumer buying behavior toward sedan cars within Delhi/NCR among high-end consumers. This knowledge helps the car manufacturers in market segmentation which enables the organization to plan the market strategies toward consumer retention and product upgradation.