Marketing Strategies adopted by automobile industry taking TVS Motors for comparison.

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Marketing Strategies of TVS Motors                                                                1071913907

TABLE OF CONTENTS

  • Executive Summary
  • Theoretical Framework
  • Objective of the Study
  • Limitation of the Study
  • Company Profile
  • Milestones of the Company
  • The Major Products
  • Research Methodology
  • Group Companies
  • Company at Present and in Future
  • Marketing Strategies adopted by TVS
  • Conclusion
  • Bibliography

EXECUTIVE SUMMARY

Ever since man evolved into social animal he felt the need for “Transportation.” As he formed a civilization he felt the need for “Better Transportation.” Today on the threshold of exploring the universe he feels the need for “Best Transportation.”

Truly the modern world relies on transport which can be airways, roadways, railways and on water. Bicycle was the most important part of road transportation in early days and as the scenario changed bicycle was transformed into a fast, stylish and trendy mode of transport known as Motorcycle, now-a-days known as Motorbike.

The topic of the project is “Marketing Strategies adopted by automobile industry taking TVS Motors for comparison.” TVS Motor Company is one of the leading bike manufacturers in India. For the study, secondary data is collected from business newspaper, magazines, company brochures, journals and the Internet. The major conclusion from this study was that TVS has to improve itself to gain the first position in the market as it is doing well to maintain its third position in the market.

In terms of competition, TVS has nick-to-nick competition with Hero Honda and Bajaj. TVS has a lot of work to do if it has to take lead and remain the leading manufacturer in India. This report incorporates sincere efforts to submit the best possible dossier on the topic assigned because no study can be perfect. There are bound to be limitations that I faced and within which I had to work.

THEOROTICAL FRAMEWORK

MARKET

In , a market is a natural social structure developed by any economic or economically-oriented, human interaction to facilitate the exchange of rights, services or product . Markets enable peoples' services, firms and products to be evaluated and . There are two roles in markets,  and . The definition implies that at least three actors are needed for a market to exist; at least one actor, on the one side of the market, who is aware of at least two actors on the other side whose offers can be evaluated in relation to each other. A market allows buyers and sellers to discover  and carry out a voluntary exchange of  or . This is commonly done through . These trades may be handled a variety of ways, but in small market environments, buyers and sellers typically deal in , and goods. In everyday usage, the word "market" may also refer to the  where goods are traded, or in other words, the marketplace.

MARKET STRATEGY

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.

Types of strategies

Every marketing strategy is unique, but can be reduced into a generic marketing strategy. There are a number of ways of categorizing these generic strategies. A brief description of the most common categorizing schemes is presented below:

  • Strategies based on  - 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:
  • Leader
  • Challenger
  • Follower
  •  - 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.
  • Cost leadership
  • Product differentiation
  • 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
  • Close followers
  • Late followers
  • 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 gives four answers:
  • Horizontal integration
  • Vertical integration
  • Diversification
  • Intensification

A more detailed scheme uses the categories:

  • Prospector
  • Analyzer
  • Defender
  • Reactor
  •  - This scheme draws parallels between marketing strategies and military strategies

OBJECTIVE OF THE STUDY

  1. The objective of the study is to analyze the customer buying behavior of the respondents in motorbikes of different brands.
  2. To study the future prospects of TVS Motorbikes
  3. To provide a fair picture of technology used by TVS Motors
  4. To study the sales trend of TVS Motors
  5. To analyze the quality of after sales services being provided by TVS Motors

LIMITATION OF THE STUDY

  1. Time Constraint – As the time was less so only the secondary data could be collected for the study

  1. Personal bias – Since the study required the comprehensive analysis, so there would be chances of personal bias.

                                     

COMPANY PROFILE

TVS MOTOR COMPANY (“inspiration in motion ")

COMPANY FLASHBACK

TVS Motor Company Ltd. was established in 1911byT.V.SundaramIyengar in India. The TVS group of companies is mainly situated in Padi, Tamil Nadu, in the outskirts of Chennai (formerly Madras).

TVS Motor Company Limited is the flagship company of TVS Group, the USD 2.2 billion group. The Group is the third largest two-wheeler manufacturer in India and globally among the top ten, with an annual turnover of over USD 650 million.

Currently, the group has more than 30 companies and employees over 40,000 people worldwide. With steady growth, expansion and diversification, it commands a strong presence in the manufacturing of two-wheelers, auto components and computer peripherals. They also have vibrant businesses in the distribution of heavy commercial vehicles (HCV) passenger cars, finance and insurance.

1980 is the red letter year for TVS when India's first two-seater moped rolled out that redefined the realm of personal transportation. In 1982, the company entered into a technical collaboration with Suzuki Motor Corporation of Japan which helped the fledgling joint venture gain from the expertise of a global two-wheeler giant like Suzuki. In 2000, the TVS group and Suzuki Motor Corporation parted ways from their joint venture with the former buying out the 25.97 per cent stake of the Japanese company for Rs 9 crore.

Globally, TVS Motor Company is the first two-wheeler manufacturer to be honored with the hallmark of Japanese Quality - The Deming Prize for Total Quality Management. It is the only automotive manufacturer in India to get the prestigious  Prize. One of its subsidiaries Sundaram Clayton was the first company in India to receive the Deming followed by Sundaram Brake Linings also getting the Deming Prize. This prize is "given to organizations or divisions of organizations that have achieved distinctive performance improvement through the application of TQM in a designated year."Sundaram Clayton went on to be awarded the .

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MILESTONES OF THE COMPANY

THE MAJOR PRODUCTS

MOTORCYCLES

  • TVS Star Sport
  • TVS Fiero F2
  • TVS Centra
  • TVS Victor (110 cc)
  • TVS Victor GLX (125 cc)
  • TVS Victor EDGE (125 cc)
  • TVS Flame (125 cc,ccvti technology)
  •  (150 cc,13.7 Ps @8500rpm)
  • TVS Apache RTR 160 EFI (Electronic Fuel Injection)

SCOOTERS

  • Spectra Dx ...

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