Market segmentation can be defined in terms of the STP acronym, meaning Segment, Target and Position. Segment Segmentation involves the initial splitting up of consumers into persons of like needs/wants/tastes. Geographical (e.g. country, region, city, town, etc.) Psychographic (i.e. personality traits or character traits which influence consumer behaviour) Demographic (e.g. age, gender, socio-economic class, etc.) Behavioural (e.g. brand loyalty, usage rate, etc.) Why they brought these vista – need a compact car in economy range.
is the process of distinguishing a product or offering from others, to make it more attractive to a particular target market. This involves differentiating it from competitors' products as well as one's own product offerings.
Positioning concerns how to position a product in the minds of consumers. A firm often performs this by producing a perceptual map, which denotes products produced in its industry according to how consumers perceive their price and quality. From a product's placing on the map, a firm would tailor its marketing communications to suit meld with the product's perception among consumers.
Strong Domestic Player : Largest Automobile manufacturere Steady Revenue Growth CAGR 27.1%
TATA Indica Vista - Marketing Analysis Mahima(FPM10011) Mukesh(PGP25139) Siva(PGP25140) Rajan(PGP25149) Ravi (PGP25150) Sahil(PGP25151) Samir (PGP25152)
Facial expressions and body language of salesperson
Note down the conversation (verbatim) that happens between salesperson and customer. (Use a camera or recorder to capture the conversation in a way that it does not interfere with the normal conversation)
Note body language and expressions used by customer and dealer.
Facial expressions and body language of salesperson
Note down the conversation (verbatim) that happens between service person/mechanic and customer. (Use a camera or recorder to capture the conversation in a way that it does not interfere with the normal conversation)
Note body language and expressions used by customer and service person/mechanic.
People in age group 50-60 years hold high regards for Tata brand which is one of the reasons they intend to purchase Tata Motors cars.
People recall big newspaper advertisements for cars. Recall value for television advertisements, that are not associated with a celebrity or with a catchy concept such as “Josh” for Ford Ikon, is abysmally low.
Customers in the age group 30-40 years use information on internet through their children who are old enough to browse internet and access information. Hence attempts should be made by the company to attract or influence this teen segment as well.
As opposed to the widespread notion that customers prefer their first car to be compact and subsequently they move onto bigger cars might not hold true always. Customers display the propensity to purchase compact cars even after buying a higher segment car probably owing to more comfort, recommendation by friends or for usage by other family members.
Customers perceive Tata Indica as a Taxi and attempt to juxtapose the same to Tata Indica Vista. Attempts should be made to free Tata Indica Vista from this image as this might inhibit consumers to purchase Tata Indica Vista.
The assumption that young people are more technological savvy as compared to older people might not be true. Older people (50-60 years) were found to be very knowledgeable. One of the reasons might be their experience with owning cars.
Insights from salesforce head’s inputs
Vista Dealers are very confident on the Test Drive of the car. They observed a very high conversion ratio in case of Tata Indica Vista (Test Drivers : Purchasers)
A big number of customers who actually went for buying Indica end up buying Indica Vista as they were getting much more features and added advantages at an incremental price.
In many cases people becomes confused due to the different variants of Indica Vista. The role of salesperson becomes very important to guide them as advertisements provide limited information.
Due to increased fuel price, nowadays mileage has become the most important criterion for a significant customer base.
Availability of finance influences the customers’ decision in many cases. For example, customers who have come to buy Indica having fixed cash in hand, end up buying Indica Vista after getting financial facilities. Introduction of attractive financing packages at final stages of negotiation can result into a sale.
Customers perceive that Tata is only into diesel and not in petrol anymore. This perception leads t lower sale of petrol variants.
Petrol variants are more suitable for customers who drive infrequently. Diesel variants are preferred by customers who drive on a regular or daily basis.
Tata Indica Vista sells more in states like Punjab, where people are relatively taller owing to more leg space in the car.
People in age group 50-60 years sit at the back during test drive. This is because they look for comfort in the car. This may also be attributed to that most if the time they will not be driving the car due to availability of a driver.
The customer came to know about the car variant they are test driving inside the car. This gap in the knowledge leads to an expectation which may or may not be commensurate with the test drive experience. This poses a risk which can be mitigated by informing the customer about the particular variant they would be test driving.