10-06-2017, 07:13 AM
comparative study of honda and tata
Comparative Study of Marketing Strategies of Two Automobile Companies A marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage.
It s a written plan which combines product development, promotion, distribution, and pricing approach, identifies the firm's marketing goals, and explains how they will be achieved within a stated timeframe. Marketing strategy determines the choice of target market segment, positioning, marketing mix, and allocation of resources. It is most effective when it is an integral component of firm strategy, defining how the organization will successfully engage customers, prospects, and competitors in the market arena. Marketing strategies serve as the fundamental underpinning of marketing plans designed to fill market needs and reach marketing objectives. Marketing strategies are dynamic and interactive. It may differ depending on the unique situation of the individual business. On the Canvas of Indian Economy, Auto Industry occupies a prominent place. Automobile sector is one of the cores of Indian Industry. Continuous economic liberalisation over the years by the Government of India has resulted in making India as one of the prime business destination for many global automotive players. One of the largest industries in India, automotive industry has been witnessing impressive growth during the last two decades. Indian automobile industry has a mix of large domestic private players such as Tata, Mahindra, Bajaj, Ashok Leyland and major international players including GM, Ford, Toyota, Honda, Hyundai, etc. To remain in this competitive market on has to come up different ideas and strategies. Various Marketing Strategies enables a firm to expand business activities for market reputation, to satisfy human wants, to lead to specialisation and efficient performance of production function climaxing in economic stability. After liberalization automobile Industry is growing at very high rate and many new companies have also entered into market. With offering variety of cars in all segments for everyone. So it is important to know which company is providing us good quality cars at fair prices and providing better after sales services, and how they are trying to reach customers. The most obvious objective marketers have for promotional activities is to convince customers to make a decision that benefits the marketer (of course the marketer believes the decision will also benefit the customer). For most for-profit marketers this means getting customers to buy an organization s product and, in most cases, to remain a loyal long-term customer. However, marketers must understand that getting customers to commit to a decision, such as a purchase decision, is only achievable when a customer is ready to make the decision.