Comparative Study of Marketing Strategies of Bajaj Automobile with Tvs Motor Company Limited in Bike Segment, in Nagpur City”

project ON Submitted to Rashtrasant Tukdoji Maharaj Nagpur “COMPARATIVE STUDY OF MARKETING STRATEGIES OF BAJAJ AUTOMOBILE WITH TVS MOTOR COMPANY LIMITED IN BIKE SEGMENT, IN NAGPUR CITY” University, Nagpur in the partial fulfillment for the Award of degree of MASTER OF BUSSINES ADMINISTRATION For the academic year (MBA) 2010-2012 Submitted By MR. MAHENDRA N. KSHIRSAGAR Under the guidance of Mrs.: MEENA RAJESH (Chaitanya Bahu-Uddeshiya Sanstha Khaparkheda) G.H.Raisoni Institute of Management & Research Nagpur INDEX SR.NO. PARTICULARS PAGE NO. 1 Introduction 2 Automobile bike segments 3 Aims & objective 4 Hypothesis 5 Limitation 6 Research methodology 7 Data analysis 8 Finding and suggestion 9 Conclusion 10 Bibliography CHAPTER -1 INTRODUCTION INTRODUCTION The topic of the study is comparative performance of marketing strategies for bajaj automobile and Hero MotoCorp Ltd on this topic my study was carried out and I was trained by sales department. By visiting various service department, which were directly related to the sales department, was quite useful my study. I had tried to put finding in the most appropriate way though the topic has some limitation. Marketing strategy 1.1 Definition The term strategy is drawn from the armed forces. It is a strategic plan that interlocks all aspects of the corporate mission designed to overpower the enemy or the competitor. An appropriate strategy is considered to be essential to face adverse situations such as cut-throat competition. Strategy may imply general or specific programmers of action outlining how the resources are deployed to attain goals in a given set of conditions. If these conditions change, the strategy also changes. Strategies give direction for the achievement of objectives necessary through the deployment of resources. The American Marketing Association defines marketing as "the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives." Marketers use an assortment of strategies to guide how, when, and where product information is presented to consumers. Their goal is to persuade consumers to buy a particular brand or product. A marketing strategy is a plan or an approach for marketing your products and services. Successful marketing strategies create a desire for a product. A marketer, therefore, needs to understand consumer likes and dislikes. In addition, marketers must know what information will convince consumers to buy their product, and whom consumers perceive as a credible source of information. Some marketing strategies use fictional characters, celebrities, or experts (such as doctors) to sell products, while other strategies use specific statements or "health claims" that state the benefits of using a Particular product or eating a particular food. A strategy is an operational tool to achieve the goals, and thus, the corporate mission. Strategies do not attempt to outline exactly how the enterprise is to accomplish its objectives. A company may view downsizing as a strategy in a competitive market to render cost-effective services. Thus, strategy provides a framework to guide thinking and action. Strategies are very much useful in organizations for guiding, planning and control. Strategy is a way of life both at the macro as well as micro levels for everyone, whether it is a nation or a company. To win over in a given complex situation, the organizations, even trans- nationals adopt strategies. They make changes, if necessary, even to their global strategies. An individual company may formulate its own strategy to bring out the desired results. The eventual success of the organization depends upon strategy formulation and implementation. The recently initiated moves such as globalization, privatization and liberalization are strategies to attain a globally competitive economy. Some marketing strategies are created for the purpose of capturing a certain segment of the market, but the majority of small business strategies are more generic in nature. Even so, it's important to understand what your strategy is trying to achieve FACTORS INFLUENCING MARKETING STRATEGY Environment Economic/dem Communicator ographic Competitor Technologic Product, place, promotion, price al/physical Publics Social/cultur Target customers Suppliers e Marketing Political/leg 4 intermediari al es MARKETING STRATEGIES AND TARGETCUSTOMERS: The results of analyzing market segments lead the marketer to consider one of the following target marketing strategies. Undifferentiated or Mass Marketing- Under this strategy the marketer attempts to appeal to one large market with a single marketing strategy. While this approach offers advantages in terms of lowering development and production costs, since only one product is marketed, there are few markets in which all customers seek the same benefits. While this approach was very popular in the early days of marketing (e.g., Ford Model-T), few companies now view this as a feasible strategy. Differentiated or Segmentation Marketing–Marketers choosing this strategy try to appeal to multiple smaller markets with a unique marketing strategy for each market. The underlying concept is that bigger markets can be divided into many sub-markets and an organization chooses different marketing strategies to reach each sub-market it targets. Most large consumer products firms follow this strategy as they offer multiple products (e.g., running shoes, basketball shoes) within a larger product category (e.g., footwear). Concentrated or Niche Marketing–This strategy combines mass and segmentation marketing by using a single marketing strategy to appeal tone or more very small markets. It is primarily used by smaller marketers who have identified small sub-segments of a larger segment that are not served well by larger firms that follow a segmentation marketing approach. In these situations a smaller company can do quite well marketing a single product to a narrowly defined target market. Customized or Micro-Marketing - This newest target marketing strategy attempts to appeal to targeted customers with individualized marketing programs. For micro-marketing segmentation to be effective the marketer must, to some degree, allow customers to “build-Their- Own” products. This approach requires extensive technical capability for marketers to reach individual customers and allow customers to interact with the marketer. The Internet has been the catalyst for this target marketing strategy. As more companies learn to utilize the Internet micro-marketing is expected to flourish. TYPES OF MARKETING STRATEGIES: Marketing strategies may differ depending on the unique situation of the individual business. However there are a number of ways of categorizing some generic strategies. A brief description of the most common categorizing schemes is presented below: Strategies based on market- In this scheme, firms are classified based on their market share or dominance of an industry. Typically there are three types of market dominance strategies: O Leader O Challenger O Follower Porter generic strategies- strategy on the dimensions of strategic Scope and strategic strength. Strategic scope refers to the market Penetration while strategic strength refers to the firm’s sustainable competitive advantage. O Product differentiation O Market segmentation Innovation strategies - This deals with the firm's rate of the new product development and business model innovation. It asks whether the company is on the cutting edge of technology and business innovation. There are three types: Pioneers O Close followers O Late follower Growth strategies -In this scheme we ask the question, “How should the firm grow? There are a number of different ways of answering that question, but the most common give four answers: O Horizontal integration O Vertical integration O Diversification O Intensification CHAPTER -2 TWO-WHEELER SECTOR Indian auto industry Introduction to Indian Two-wheeler Sector: The Indian automotive industry consists of five segments: commercial vehicles; multi-utility vehicles & passenger cars; two-wheelers; three-wheelers; and tractors. With 7,822,963 units sold in the domestic market and 753,591 units exported during the first nine months of FY2007, the industry (excluding tractors) marked a growth of 43% over the corresponding previous. The two-wheeler sales have witnessed a spectacular growth trend since the mid nineties. India is the second largest producer and manufacturer of two-wheelers in the world. Indian two- wheeler industry has got spectacular growth in the last few years. Indian two-wheeler industry had a small beginning in the early 50's. The Automobile Products of India (API) started manufacturing scooters in the country. Bikes are a major segment of Indian two wheeler industry, the other two being scooters and mopeds. Indian companies are among the largest two-wheeler manufacturers in the world. Hero Honda and Bajaj Auto are two of the Indian companies that top the list of world companies manufacturing two-wheelers. The two-wheeler market was opened to foreign companies in the mid 1980s. The openness of Indian market to foreign companies leads to the arrival of new models of two-wheelers into India. Easy availability of loans from the banks, relatively low rate of interest and the discount of prices offered by the dealers and manufacturers lead to the increasing demand for two- wheeler vehicles in India. This lead to the strong growth

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