Shashank Srivastava, CGM - Marketing, Maruti Suzuki
Brand Maruti has grown amidst a clutter of brands in the Indian passenger car market. What according to you, has made Maruti such a valuable brand?
Maruti Suzuki has been able to retain and even grow its market share, despite intense competition. Our products met customer requirements providing “good” value, which was supported by a great brand image and an extensive distribution network. The competition in the industry really began in 1996 with Daewoo, and intensified with the entry of Tata Motors and Hyundai. The nature of the market and consumer requirements have changed dramatically and we have been able to identify these trends correctly. The company has always been there for its consumers. It has earned their trust and loyalty, thus making it one of the most valuable brands in India today.
The Indian consumers today is younger and more demanding. How are you handling this situation?
Right pointed out. As India has progressed economically, naturally the consumer preferences have evolved both demographically and psychographically. The Indian consumer today is younger and more demanding. He is expecting not only value for money and reliability, but also recognition and aspiration from the product. Maruti Suzuki has been carefully building its image with these changes in mind. This is even reflected in our product line-up, such as the Swift, the Dzire, the SX4, the Ritz, the A-star et al, and also the nature of our communication. But there is still a long way to go! Technology is changing rapidly and competition will grow. We cannot be complacent.
As compared to the past, has the company’s approach towards pushing sales changed?
There was little competition in the past. There was always some mismatch between demand and supply. However, with time we built our network and our brand became the most trustworthy in the industry. Today, we have our own marketing and sales staff and conduct research on customer trends. We also invest heavily in advertising.
Brand Maruti has grown amidst a clutter of brands in the Indian passenger car market. What according to you, has made Maruti such a valuable brand?
Maruti Suzuki has been able to retain and even grow its market share, despite intense competition. Our products met customer requirements providing “good” value, which was supported by a great brand image and an extensive distribution network. The competition in the industry really began in 1996 with Daewoo, and intensified with the entry of Tata Motors and Hyundai. The nature of the market and consumer requirements have changed dramatically and we have been able to identify these trends correctly. The company has always been there for its consumers. It has earned their trust and loyalty, thus making it one of the most valuable brands in India today.
The Indian consumers today is younger and more demanding. How are you handling this situation?
Right pointed out. As India has progressed economically, naturally the consumer preferences have evolved both demographically and psychographically. The Indian consumer today is younger and more demanding. He is expecting not only value for money and reliability, but also recognition and aspiration from the product. Maruti Suzuki has been carefully building its image with these changes in mind. This is even reflected in our product line-up, such as the Swift, the Dzire, the SX4, the Ritz, the A-star et al, and also the nature of our communication. But there is still a long way to go! Technology is changing rapidly and competition will grow. We cannot be complacent.
As compared to the past, has the company’s approach towards pushing sales changed?
There was little competition in the past. There was always some mismatch between demand and supply. However, with time we built our network and our brand became the most trustworthy in the industry. Today, we have our own marketing and sales staff and conduct research on customer trends. We also invest heavily in advertising.
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Source : IIPM Editorial, 2011.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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