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Ford Figo
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  • 1. Internal Assignment on Ford Figo Group 3
  • 2.  Price of the car Customer Income Tastes and preferences Competitors Expectations Advertising
  • 3.  First B-segment compact car Designed keeping in mind the aspirations and needs of the young and ambitious Indian professional. For the middle-income group people.
  • 4.  On Road price is Rs. 4,30,000. Received more than 10,000 orders in less than one month Announced 1% hikeConclusion:This price rise is not a major one in magnitude but may impact sales of the Figo to a small percentage; hence the demand would not decrease with same factor as the increase in price.
  • 5.  The percentage change in quantity demanded caused by a 1 percent change in income. Preferred by service group and middle income group.Conclusion:The income and purchasing power of people is increasing, hence, demand will increase.
  • 6. Competitors (substitutes) of Ford Figo:- Maruti Ritz :- Price: Rs. 4,71,000 Chevrolet Beat:- Price: Rs. 4,55,000 Volkswagen Polo:- Price: Rs. 5,28,000 Nissan Micra :- Price: Rs. 5,59,000Conclusion: An increase of price of any of the substitutes will increase the demand for Figo. The price rise of Figo by 1% is not a major one in magnitude but may impact sales of the Figo to a small percentage, but since the Ford Figo is not the only car with the increased prices, its not a major disadvantage as well
  • 7. 1. Income Effect Cost Price – Rs 3.7L to 5.6L GDP Growth - 7.5% 12th 5-year plan estimated growth rate – 9% Segmentation  Upper Middle Class  Lower High Class
  • 8. 2. Technology Increasing fuel prices Alternative fuels  Hydrogen fuel cells  Electric power  Solar power Not-so significant effect on Ford Figo as the emergence of such technologies will only have an immediate impact on low cost segments where Tata Nano and Maruti Alto operates
  • 9. 3. Government Policies Tax on knocked-down products  Ford Figo will not have any impact as it has its full fledged production facility operating out of India base  Such a policy will affect only ultra premium sedan segment FDI  FDI at automobile sector – 100%  Impossible for any further increase  Increased bureaucratic delays, corruption and lack of significant reform
  • 10. 4. Interest Rates Consecutive hikes in interest rates Interest rates on auto loans go up Figo has two options :  Pass on the effect to the end consumers  Bear the brunt by itself which will help to have a lead though the margins would slightly fall but only for a shorter period of time
  • 11.  Figo– a relatively new product Quantitative analysis not so apt Stress on qualitative analysis– expert opinion & market analysis Competitor plans– an indicator of broad future trends
  • 12.  Assumption– past trend will hold good for future as well Need strong database Equation of sales is arrived at by minimizing the sum squared deviations The projections for Ford Figo’s sales for the next two years exhibited in the attached excel.
  • 13.  Tie up with banks for easy procurement of loans Competitive market price Service network Complementary services and goodies Diesel variants Faster delivery to customers
  • 14.  Abhishek Rajan (103) Avishek Singh (113) Maithilee Deshmukh (123) Nimisha Agrawal (133) Rajesh Dharmarajan (143) Swapnil Wagh (153)