Tata Motors is looking to be one of the top 3 manufacturers in India as it diverts its energies towards segmented marketing with the Bolt.
With a major setback in sales over the past two to three years, Tata Motors made sure to go back to the drawing board in a bid to revive its lost momentum and has been working on new products, technologies and restructuring in-house operations to create a completely new brand ‘Tata’ fit for individual customers. While the company’s first of the many new launches the Zest has made that possible to a small extent, the company plans to bridge that gap further with the new Bolt and its very aggressive marketing strategy.
In a recent interview, ex-Maruti man Mayank Pareek, Tata Motors newly appointed President of passenger vehicles business stated his vision to become one of the top 3 auto manufacturers in India from the current 6th position. Looking at segmented marketing with the upcoming Bolt, the automaker is ensuring to reach out to the right customers and not take a ‘one size fits all approach’. With the Bolt in particular, the company is targeting younger customers with its HORIZONEXT strategy that ensures attractive design, better in-car connectivity and drivability from the new models.
Called as the Bolt Arena (check it out HERE, the brand is promoting a sporty image of the hatchback with the tagline ‘Get, Set, Bolt’ and will be displaying the upcoming hatchback at a number of malls and corporate parks across most major cities over the next two months; keeping the brand alive among the right audiences. The new segmented strategy will ensure that its other products do not take a hit in sales or are overlooked upon.
As part of the aggressive marketing strategy, Tata is also looking to engage the target audiences using social media as a dominant tool. However, the approach towards individual buyers does not stop here. While Tata’s showrooms are used to selling fleet models, it is now training the sales personnel and also recruiting folks from the service and aviation industry to meet and greet prospective customers at dealerships on an individual basis. The automaker also recently confirmed that the Zest and Bolt models will not make it into the taxi space, to keep the individual buyer sentiment high.
Looking to boost its market share in the passenger vehicle space, Tata has products planned that will enter new segments over the course of coming years. While the Kite hatchback and sedan models are planned for launch in the next fiscal, the company will launch the Nexon compact SUV in the second half of 2016. Tata has also been studying the viability of project Nano once again, which will see major revisions in the next generation. The company also wants a product portfolio equally divided between petrol and diesel.
Source – Economic Times