Bajaj and Hero Honda, both are well established motercycle manufacturers. Both have given excellent results. Earlier Bajaj was considered more as a scooter manufacturer. But it contradicted this by launching Pulsar. And now it holds good position in bike market.
On the other hand hero Honda has always mantained that position of being quality bike makers. They did got a high level of competition after the launch of Pulsar, but their Karizma took away the Market Charm.
It is true that even today Pulsar is giving high competition but there is no competion when Karizma comes into play. People who dont consider milege an issue, always go for Karizma. And even if they consider milege then they have various options in Hero Honda like Passion etc. Therefore, this makes them the undisputed hero of the Bike market.
Being a college student I come across various opinions of students. Basically majority of them want a sporty Bike like Karizma. If anyone goes for other bikes it is due to the above mentioned reason.
So I believe that in order to gain that market fame Bajaj needs to launch a sporty bike which can give competition to Karizma. And on the other hand if Hero Honda launches another such sporty package with some boost in Milege then no one can challenge them.