Market Analysis of Maruti Celerio
Essay by sirishakvn • November 24, 2015 • Term Paper • 1,018 Words (5 Pages) • 1,549 Views
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Market Analysis of Maruti Celerio
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Maruti Udyog Limited was established in February 1981
Government owned 74% of the company and rest was owned by Suzuki of Japan until 2007
At present, Suzuki Motor Corporation is the parent company with a majority stake of 56.8%
Few of the cars which Maruti Suzuki India manufactures are
Omni
Alto
Swift
Celerio
Dzire
Celerio AMT
Launched in February 2014 replacing A-star and Zen Estilo
Captured the market immediately which resulted in long waiting periods
USP of the cost effective offering of an innovative technology of automatic manual transmission
Promises the comfort of automatic coupled with the sportiness associated with manual cars
Purpose & Objective of Project
To explore the phenomenal success of a new technological offering
To understand the challenges that were, are, and will be
To demonstrate the cost-to-value sensitivity of the Indian customer
To understand the changing preferences of the customer
To speculate the further opportunities of the product
To study the impact of the product on the market and expected response from competing OEMs
Significance of Project
This product offers a study on core marketing concepts and applications like:
Pricing Strategy
Value for money
Positioning Strategy
Promotions and Advertisement
Satisfying the needs of customers
SWOT Analysis
Scanning the External Environment
Competition Analysis
Porters Five Forces Model
Primary & Secondary Research
Main focus was on opinions and preferences
After basic questions on demographics, rating for different features like Mileage, Durability, Ease of Drive was taken
Aim of ratings, was to gauge how important mentioned features are, in comparison to others, while thinking of purchasing a car
Reasons for preference of MT over AT, by general public, were asked
Survey was floated on email & popular social networking site, Facebook
Through the survey, various insights were found which helped in understanding consumers better
Through secondary research, a better understanding of market and competitors developed
Market Research
Demographics of survey population:
Survey population comprised 84% males and 16% females
Survey comprised of:
68% people from Tier-1 cities (Delhi, Mumbai etc.)
17% people from Tier-2 cities (Pune, Surat etc.)
15% from Tier-3 cities (Ambala, Erode etc.).
Decision making process of the consumer
Customer mindset
Consumer preferences
Segmenting
Identification of need- People need a compact car which is easy to drive, is high on mileage, but is available at a lower cost.
Segmentation-
Segmenting
Targeting
Positioning
Product-
EZ drive - with the new Automated manual transmission that eliminates the hassle of shifting gears. Targeted at people of urban and metropolitan areas who daily get stuck up in heavy traffics and at people who are mileage conscious
EZ technology - with the improved K-Next engine that provides better torque delivery, fuel efficiency and faster throttle response (drive by wire). Targeted at people who are more concerned about the driveability of the car (generally sport oriented people) and also at people who are mileage conscious (families with annual income in the range of 4 to 8 lacs)
EZ Style - New design theme of Curve In Curve Out (CICO) styling in Celerio. Targeted at families as well as young people whose first criteria to buy a car is aesthetics, generally people in the age group of 20 to 40
EZ Space - The Xpan design of Maruti Celerio has maximised space and comfort within the car. This is targeted at small families of size four or five who want to travel comfortably, leisure travellers, daily long distance commuters and old aged people
Price and Maintenance - The Maruti Celerio AMT gives the customer an automatic drive feel but at a lower initial cost and maintenance. This is targeted at people who want economical, innovative and reliable product.
POP/POD
POP
Same ex-showroom price range
In-line geometry of engines, braking and suspension mechanisms
Sub 4 metre hatchbacks with 2 row seating
POD
Only AMT offering in India
Best in class mileage: comparable to manual transmission
Cost effective: Automatic offering at near to manual variant cost
Positioning
2) Marketing-
Advertisement directly highlights the difficulties faced by a regular commuter in an urban city. It highlights how Celerio’s AMT model solves the daily hassle of frequently changing gears in traffic.
Hoardings and Printed advertisements highlight the key features namely EZ Drive, EZ Technology, EZ Style, EZ Space, EZ Gizmos.
YouTube channel has short feature based videos, review videos and advertisement.
Attractive Product Website highlighting all the relevant information.
Poster highlighting Positioning
Suggestions & Foresights
Product-
Improvement in exterior design
Reduction in waiting period
CNG variant of Celerio AMT
Keeping a watch on competitors like Tata, Mahindra, Nissan, etc who are ready with their AMT models
2)Marketing-
Awareness Drives
Market Expansion
Capturing Digital Space
Catering to emerging segment
Limitations & Future Research
Limitations-
CNG variant of Celerio AMT
Supply of AMT gearboxes from Magnetti Marelli
Future Research-
Re-designing the engine room to enable the packaging of Celerio AMT CNG model
Continuous research is required in the area of Fuel Economy improvement in order to meet the requirements of the Corporate Average Fuel Consumption Rules and Rating system
Conformance to crash testing standards also needs to be tested to meet the crash testing norms which are going to be enforced by the government in the near future.
Conclusion & Implications
Ease of driveability, mileage and price needs
Market segments based on geographic, demographics, psychographics and behavioural aspects.
‘EZ’ banner: EZ Drive, EZ Space, EZ technology etc.
Re-strategizing in order to ramp up production levels
Roll-outs based on the AMT platform planned out from competitors
Overall, Maruti Celerio has managed to build upon the competitive advantage (first mover advantage), and gain significant market shares.
That’s all folks
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