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The Mahindra Group is a $ 4.5 billion * conglomerate is a leading manufacturer of multi-utility vehicles with significant presence in key sectors like farm equipments, infrastructures, information technology and financial services. The Group has leading presence in many key sectors:1)Automotive (Mahindra& Mahindra LTD.)
3) Mahindra trade and Financial Services (Mahindra Inter trade Mahindra &Mahindra Financial Services Ltd
4) Mahindra Systems and Automotive Technologies (Mahindra Engineering Services, Mahindra Ugine ) 5) Information Technology (Tech Mahindra, Bristlecone) and Infrastructure Development (Mahindra GESCO, Club Mahindra Holidays, Mahindra World City).
Product line A group of products within a product class that are closely related because they : Perform a similar function Are sold to the same customer groups Are marketed through the same outlets or channels Fall within given price ranges
Product development- two types New products range from new-to-the-world products that create an entirely new market at one end, to minor improvements or revisions of existing product at the other.
Yes ,SCORPIO is a new product development. As before the launch of Scorpio, Mahindra & Mahindra image was a big barrier. It only covers semi-urban and rural markets in India. In 1990s the company was experiencing loss of share.
India enjoys a distinct cost advantage with respect to auto-ancillary manufacturing capabilities.(Indian labor cost is only around 8-9% of sales) MUV as a % of the overall passenger car market was just 16% in 2001. Consumers want to consume premium imagery at prices affordable to them.
Untapped niche: Mahindra was lacking in products that catered to the modern urban consumer needs. The market was moving from traditional multi utility ,non-luxurious vehicles to luxurious vehicles.
To achieve these purposes, the company started the product development process termed IDAMIntegrated Design And Manufacturing.
The company Mahindra &Mahindra launched the new vehicle successfully in 2002 under the brand name..
SCORPIO
Urban
market was showing more potential for vehicle sales and UVs were gaining higher acceptability in urban areas International UVs were entering the market and competition was getting tougher The market was moving from traditional multi utility , non luxurious vehicles to luxurious vehicle .
customer preferred big size as its stands for status . Consumer seeks latest technology Customer wants the sheer thrill and passion of driving an SUV but at affordable price
Mahindra (in late 1990s) a leader in UV segment was losing their market share . Global player were entering in the market and aggressively launching products Mahindra share of business was largely from semi urban and rural market of India
Mahindra sales come from institutional sales army , police , military groups They had wide product port folio but was lacking in product that catered to modern urban consumer needs The market where Mahindra was strong were stagnating ..
Mahindra image..
Mahindra image was a big barrier there brand were not seen as modern and technological advance . there image was uncomfortable , rough , not easy to drive ,
to create a new segment and retain market domination . To differentiate offering that is to provide an excellent value proposition to customer . To optimize project cost .
There was no SUV in the country that the masses could buy . So based on consumer research Mahindra found to make SUVs a mass concept in India seen as comfortable , easy to drive , and imaginary comparable to international brand.
So to make Mahindra and Mahindra known world wide for the quality , durability , and reliability , of its product and services and to dominate in the niche UV market they decided to launch scorpio .
POSTIONING OF SCORPIO
Scorpio as a powerful vehicle with a sporty look among the premium car consumers Luxury of car , thrill of SUV Make good quality vehicles Create to drive Proud to own
VALUE BENEFITS
SCORPIO EVENTS
2004:Scorpio Slx
2005:Scorpio Crde
2007:VLX
2007:LX
2008:Scorpio automatic
2011 SCORPIO LX 44
Positive but unfavorable brand Image . Negative parameters * Uncomfortable and rough. * Not easy to drive and * Rural imagery.
STRATEGIES ADOPTED
Proper market research ADOPTED UNIQUE PROCESS i.e. IDAM Strong positioning Competitive price advantage .
MARUTI SUZUKI
Both Mahindra & Mahindra and Maruti Suzuki have positive brand image but unfavorable to cater luxury segment. Like Project Scorpio Maruti Suzuki can stretch upward by introducing new product line i.e. SUVs. Innovation in terms of technology . Educating customer about novel concept of their SUVs by choosing right media mix and promotion activities.
CURRENT STATUS