It is the market leader in India and on 17 September 2007, Maruti Udyog Limited was renamed Maruti Suzuki India Limited. The Indian Auto Industry has just started getting a foothold on the global map. Justification for topic This topic was chosen due to the fact that the objectives of a business can affect many aspects of a business and how it is operated, including how these objectives can affect the decisions made in the business which influences how the business grows and in turn its size. At the time theSantro was launched, both the options available in the segment- Fiat Uno and the Zen-had been around in the Indian Market for quite some time and lacked novelty. So the average Indian customer who rides the roads of India isnaturally extremely cautious when it comes to investing in a vehicle. This repositioning of Swift also helped it to target the segment of first timecar buyers.
The company has been recognized by several awards in the automobile segment in India Weaknesses 1. As a part of this initiative Maruti developed 255 customer service outlets along with 21 highway routes by 2001-02. Appearance and Style: Car is status symbol for many customers. The Indian manufacturing may go through periods of overcapacity as the vehicle capacity estimations are about three million passenger cars in the next five years. Considering this fact, Maruti Suzuki launched a panchayat scheme for such opinion makers which covers the village Sarpanch, doctors and teachers in government instititutions, rural bank officers where in an extra discount is given to make a sell. The vehicle has not only emerged as the best-selling model in the niche.
There are many reasons for the impressive growth of the Indian passenger car Industry. Suzuki's trademark is recognized throughout the world as a brand that offers high quality, reliable and genuine products. We are trying to increase market penetration through several innovative schemes. However, after the economic downturn the growth is slightly sluggish in Automobile industry, Maruti being no exception. This growth is likely to be driven by the entry-level segment. The Cash Cow cycle deals with low growth and high share. The methodology followed by the researcher, during the preparation of the report was: Research Design A research design is purely and simply the framework or plan for a study that guides the collection and analysis of data.
Marketing Strategies of Indian Automobile Companies: A Case Study of Maruti Suzuki India Limited
Sheilly Saxena who devoted her precious time to interact, guide and gave methe right approach to accomplish the task and also helped me to enhance myknowledge and understanding of the project. With the invent of Swift, Maruti Suzuki is looking towards entire new segment of consumers and all set to target it to emerge as the market leader in B- Segment cars. Suzuki Motor Corporation increases its stake in Maruti to 54. The Indian Economy: Recent Development and Future Prospects. The potential for growth is enormous. Hyundai tied up with the advertising agency Saatchi and Saatchi, who hit upon a novel strategy.
The method of sampling was the Random method as it is unbiased. Currently Maruti Suzuki followed a very effective multi-segmentation strategy to grab the different segments of the market with different versions of its brands. Employee management, strikes, worker wage problems have affected Maruti's brand image in the past Opportunities 1. There was a delay in setting up of a plant in India for manufacturing diesel engines and transmission systems for cars. Better after sale service 11. And the business may be trading beyond its capacity. During the eighties, a few competitors began to arrive on the scene.
Primary Data is collected by the investigatorthrough interviews of company employees, vendors, distributor etc. The various layers of legislative Acts sheltered the industryfrom external competition for a long time. Not only is the company hoping that the Swift will help expand the market for the B-plus segment premium hatchbacks , it's also counting on Swift to make a style statement -- that Suzuki can deliver good-looking cars on Indian roads. Oracle also assisted Maruti withchange management, a critical part of the process to ensure quick user acceptance. This gives Maruti an edge and makes it such a popular car company. Wide Product offerings at different price points: Maruti Suzuki has launched various models in various segments and hence has a very good product mix of offerings as different price points.
Marketing Strategy Analysis of maruti suzuki by K.N.T Arasu in Marketing category on roundtaiwanround.com
It enables to predict the future performance of a particular stock based on its past performance, the current status of the internal as well as the external environment. As urban consumption is gradually migrating from A-segment to B-segment, timely identification and execution on the trend has yielded excellent dividends for Maruti. According to a Government of India estimate, there are 400 large firms in theorganised sector and about 10,000 firms in the unorganised sector. Methodology: Total of 116 referred journal articles in the domain of Vehicle assembly are reviewed here. Do you think that auto fairs are effective methods of sale promotion? The company also offered vehicle insurance for One rupee only. Maruti Suzuki achieved this in a very short time. Maruti provides all the basic features which are required in a car by a customer so it is clearly the market leader in the Indian automobile sector.
Maruti products had been exported to certain neighboring countries already. Large Distribution Network: With a strong dealer network of around 3000 dealers al around the country, Maruti Suzuki has made its presence felt in each and every corner of India. Strong brand value and strong presence in the second hand car market 6. Bollywood starShah Rukh Khan was roped in to be the brand ambassador. Maruti faces stiff competition from Chevrolet Beat, Tata Indica, Fiat Punto and Hyundai I10 in the automobile sector. It was the first company in India to mass-produce and sell more than a million cars.
