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  • Subject area(s): Marketing
  • Price: Free download
  • Published on: 14th September 2019
  • File format: Text
  • Number of pages: 2

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Marketing Mix - Automobile Industry

Product – Hybrid Scooter

Product

In this ever changing and fast-moving world, the renewable resources are decreasing at a rapid rate. With excess vehicles on the road, the pollution caused by combustion of these fuels is one another major problem. The rapid decrease in supply and increase in demand of these fuels have enabled the prices to rise rapidly. People are now switching to other renewable resources. Thus, thinking about environment and future customer needs, the company is stepping into the segment of two wheelers by introducing its very first hybrid model of a scooter. This hybrid scooter will among the first few hybrid scooters in India.

The scooter runs on the theory of Hybrid Electric Vehicles(HEV).  It will be powered by both petrol and battery. It uses gasoline motor and battery for functioning. The company will be offering these scooters under two major sub segments – Conventional hybrids and

Downright hybrids. The conventional hybrid will be using battery power only when additional power is needed, that is the conventional motor will be providing the major power. Whereas the downright hybrid models will be fully hybrids. The battery will be used to drive the vehicle at lower speeds and at higher speeds, gasoline power will be used. Thus, these models will help in minimising gasoline usage and will ensure fuel efficiency. The scooter can be charged by plugging in the standard wall socket.

The design for the scooter has been kept futuristic. It has a youthful unisex design and will be manufactured in 3 major colours – Matte Black, Silver and Blue. The variants will differ slightly in design but the major body design is kept sleek and lightweight for comfortable travel. The conventional hybrids - CHX will have two variants of 107cc and 124cc and the downright hybrid - DHX will be sold in another of two variants of 98cc and 110cc.

Place

The product will not only be sold in the retail outlets, but online, through our website as well. Through our website, the customers could place a request for a test drive or even specifically, the purchase of the product. The company has planned to set up its retail outlets in significant metropolitan cities. The first store will be launched on 1st January 2018, in Bangalore and 2 different cities at the same time in Pune and Mumbai. As we aim to target the youth, we have chosen these cities mainly because these cities have the highest ranked universities in the country. The population of these three cities contributes to the maximum youth percentage of the country as many students move in to these cities to pursue their higher education. The stores will be situated close to the universities as setting up the retail outlet in such locations will help the company attract the attention of many potential young buyers. The outlets will display our very own first and single model of the scooter, for the shopper to have a premium visual and physical experience with the vehicle. The company will also have its service centres set up in the same cities. The company will hire highly qualified professional salesmen, who would have the skills and knowledge to educate the clients about the benefits of our product. These specialists would have to convince the customer to purchase the scooter by explaining even the smallest of details to them. Additionally, technicians would be sent to the customer's home or workplace, when needed, in order to keep the customer satisfied with our service.

Price

The company offers a wide range of hybrid scooters to choose from, still following a competitive price strategy across all segments with zero compromise on quality. The company will try to come up with penetrating pricing wherein it can capture a larger market share contributing lesser to initial profits but greater profit maximization through expensive service. India is a very big market for the company as compared to other countries because there are no hybrid scooters currently but buyers are highly price sensitive. The company is entering into a market which is already established with players like Hero, Bajaj, Yamaha etc. and constitute of the major chunk. The scooters will be coming up with different price segments for the economy and premium buyers. Since the technology used is complicated, the price of these scooters will be slightly higher than the regular petrol run scooters. But the company assures the value for money of these scooters. The conventional hybrid models will cost little less than the downright hybrids models. Since the company is focusing majorly on youth, most of the models are under economy range only. The CHX models will lie in the range of Rs. 60,000 – Rs. 75,000 depending on the variant. The DHX model will be costing from Rs. 73000 to Rs. 85000. The prices are comparatively less than the prices that are offered by our competitors thus ensuring us an advantage.

Promotion

ϖ Initially, we have planned to launch the product in the three main universities of Bangalore, Pune and Mumbai which are Christ, Narsee Monjee and Symbiosis. Through this launch, we will be able to seek the attention of the maximum number of students in our target group.

ϖ Also, the next most important promotional activity will be advertising our product on Instagram, Facebook and YouTube as the youth is very active on social media.

ϖ We will post videos of the product on our official website that will showcase in detail, the design and technology of the product.

ϖ We will also install Bill Boards and paste posters in areas near the universities and hostels, to attract the attention of the students.

ϖ Sponsor relevant college fests/programs

ϖ Placing print adverts in newspapers and student magazines.

ϖ Contact students in our target areas by calling them up and informing them of the product

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