Bajaj Auto Ltd. Marketing Strategy – Marketing Strategy of Bajaj Auto Ltd.: BajajAuto engages in the manufacturing and distribution of automobiles such as commercial vehicles, motorcycles, etc. Accessories. The Company sells its products both in India and other global markets, i.e. More than 70 countries worldwide.
Bajaj Auto is the world’s third-largest motorcycle manufacturer and largest three-wheeler manufacturer. It supports various activities within the company’s delivery chain and employs more than 10000 people.
Bajaj Auto Ltd. At A Glance – Marketing Strategy of Bajaj Auto Ltd.
Company : Bajaj Group
CEO: Rajiv Bajaj
Founder: Jamnalal Bajaj
Year founded: 29 November 1945
Headquarters: Pune, Maharashtra, India
Annual Revenue: INR316.52 billion
Profit | Net income: INR42.7 billion
Number of employees : 11,822
Products & Services: Motorcycles | Scooters | Auto rickshaws
Bajaj Auto Ltd. Competitors
Competitors: TVS | Honda Motor Company | Discount Ramps | Lithia Motors | KTM | Kymco | Hero MotoCorp
Bajaj Auto Ltd. Fun Facts: Bajaj Auto Ltd. has done quite well with motorcycles,but they hit jackpot with Tricycles ,as they are the largest manufacturers of Tricycles in the world !.
Marketing Strategy of Bajaj Auto Ltd.
Bajaj Auto Ltd.’s Marketing Strategy covers various aspects of the business right from segmentation and targeting to the overall mission and vision of the company and the various parameters which the company executes to become the top brand that it has in the market. So what is the Marketing Strategy of Bajaj Auto Ltd. ? Let us discuss.
Segmentation, Targeting, Positioning – Bajaj Auto Ltd. Marketing Strategy
The Company segmented the population based on characteristics such as age, gender, income, region, size, price sensitivity, and loyalty. Bajaj Auto employs a combination of demographic as well as geographical segmentation strategies. Because the distribution of this product is very important. Demographic points such as the earnings of the individual are also important.
The company uses a targeting strategy to differentiate itself from its competitors. target customers with distinctive features is another way it competes. Pulsar is a clear example of such a model that has distinguished itself by its unique combination of design, power, and flexibility in the market.
It has been positioned as a highly-technical automobile maker. It employs a value-based positioning strategy and user benefit.
Bajaj Auto Ltd. Mission Statement
Bajaj Auto Ltd. Vision Statement
Bajaj Auto Ltd. Tagline
Competitive Advantage – Marketing Strategy of Bajaj Auto Ltd.
Subsidiaries and Joint Ventures: The Company has an operation in India, but also operates in other countries which allows it to be competitive with its rivals. PT. Bajaj Auto Indonesia is a 100% subsidiary of Bajaj Auto Ltd. These subsidiaries are involved in the primary manufacturing of KTM motorcycles.
Reputable Indian Conglomerate: It is one of 25 companies in the Bajaj Group that have been around for more than 75 years and are active in many businesses, including Electronics, Life Insurance, and Financial Services.
Established brand: The brand is loved and well-known by the People of India. Bajaj Auto Product Portfolio includes models that are well-known and widely adopted in India and other parts of the world.
BCG Matrix – Bajaj Auto Ltd. Marketing Strategy
Bajaj Auto is a strategic business unit ( SBU) that operates Bajaj Motorcycles and KTM Motorcycles.
Bajaj Intracity 3-wheeler and racing motorcycle businesses are stars in the BCG matrix. However, the KTM motorcycle business is under question due to the presence of a number of brands in the high CC/racing motorcycle segments of the BCG matrix.
Distribution Strategy – Marketing Strategy of Bajaj Auto Ltd.
The company uses a mixture of distribution channels for different business segments, such as the Bajaj Motorcycle, and commercial vehicle segments. Authorized distributors are used for sales & services, company-owned outlets for sales & servicing, DSA ( direct-selling agents), and eCommerce sites.
KTM’s motorcycle business vertical distributes its products through distributors and online sites.
Brand equity – Bajaj Auto Ltd. Marketing Strategy
Bajaj’s brand is made famous by its advertisement “Hamara Bajaj”. They are well-known in the market and have won many accolades and awards over the years, such as the 2016RS 200- Readers Choice bike of year by Auto Car & Times Now. Also, the overdrive RS 200 was awarded Viewer’s Choice bike award by CNBC and Zigwheels.
Competitive Analysis – Bajaj Auto Ltd. Marketing Strategy
With a broad product portfolio across all business verticals, the Company is able to compete with other automobiles in the market. For example, Bajaj Motorcycle has sub-brands Donmar 400 and Avenger. In KTM, it has offerings like KTM naked, and KTM Sports Tourer. KTM freeride. KTM Supersport.
Market Analysis – Marketing Strategy of Bajaj Auto Ltd.
Slow domestic growth, credit constraints, government regulations, and currency problems due to demonetization are all factors that affect the industry’s exports as well as its domestic market.
Increasing supplier and customer bargaining power, due to a wide range of options on the market and changing government regulations like recently BS3 was discontinued and BS4 is the minimum standard are driving this industry.
Customer Analysis – Bajaj Auto Ltd. Marketing Strategy
Bajaj Auto customers range from students to racers and auto drivers to travel enthusiasts.
There are two types of customers: passenger vehicle segment customers and commercial vehicles segment customers. Passenger segment customers fall within the 20-40 age range, while customers in the commercial vehicle segment include retail customers as well as B2B customers such as transporters who use it to run their own businesses.
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