Mahindra a very well known brand in india for utility vehicles(tractor,auto,van,trucks,lorrys) is now a premium car segment brand internationally.Its not so easy to sell a premium car brand to global customers which is a trade mark for utility vehicles which are mostly used by poor man in india.Here is how it made.
Mahindra had a small big plans initially.It is "small big" because it wants to broaden the company with small cars and make it big. As a part of strategy it moved from utility vehicles to luxury vehicle segment.Initially came up with small cars Mahindra verito and Logan.But people couldn't accept because Mahindra brand is known for auto-rickshaws and trucks.If someone says to his neighbor that i bought a mahindra car , the neighbor says "oh that tractor and truck company".It din't work.
But one should not forget that Mahindra is a trust worthy,dependable,value for money brand in rural india .Mahindra just has to gain the trust of urban market as Mahindra brand name is very weak in urban India.BUT HOW?
Answer lies in its problem i.e Mahindra is a weak , not familiar brand in urban India.So they have to work from foundation i.e build a Brand image for Mahindra.Q is HOW ? again."ITS SIMPLE" ALWAYS REMEMBER "WHEN YOUR BRAND IS NOT FAMILIAR OR WEAK IN A PARTICULAR MARKET-A PRODUCT BUILDS AND GIVES AN IMAGE TO YOUR BRAND "-ONCE BRAND IMAGE IS BUILT, THE REST IS DONE BY YOUR BRAND NAME".
So MAHINDRA worked from scrap-It followed ENDORSEMENT STRATEGY-introduced a product BOLERO a multi purpose vehicle priced at upper class level without much importance to Brand Mahindra.Bolero product did quite well ,as Bolero is doing well Mahindra came with one more product Scorpio.Scorpio is a value for money at a upper class level and a well performing vehicle.SCORPIO and BOLERO were endorsing Mahindra brand.The variants of SCORPIO and BOLERO were gave much emphasis to Mahindra brand.These 2 products build an Image for Mahindra.
Now Mahindra has a Brand image.It can carry the products on its own.It beacame a strong brand in urban market.Now the problem is that the next products should be sold only on the name of brand rather than the product name,Q is HOW?
For this Mahindra followed a ALPHA NUMERO STRATEGY-it means the product name will not carry a name ,instead it contains a alphabets and numbers like MAHINDRA XUV 500.If some one asks you which vehicle is that ,you can't say XUV 500 because people wont get it easily.SO u say ITS MAHINDRA XUV .Thats the advantage of alpha numero starategy.It adds credit to your Brand Mahindra rather than product name i.e XUV 500.Its opposite to ENDORSEMENT STRATEGY-where u say its a SCORPIO instead of Mahindra SCORPIO.
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| MAHINDRA TRACTOR |
But one should not forget that Mahindra is a trust worthy,dependable,value for money brand in rural india .Mahindra just has to gain the trust of urban market as Mahindra brand name is very weak in urban India.BUT HOW?
Answer lies in its problem i.e Mahindra is a weak , not familiar brand in urban India.So they have to work from foundation i.e build a Brand image for Mahindra.Q is HOW ? again."ITS SIMPLE" ALWAYS REMEMBER "WHEN YOUR BRAND IS NOT FAMILIAR OR WEAK IN A PARTICULAR MARKET-A PRODUCT BUILDS AND GIVES AN IMAGE TO YOUR BRAND "-ONCE BRAND IMAGE IS BUILT, THE REST IS DONE BY YOUR BRAND NAME".
So MAHINDRA worked from scrap-It followed ENDORSEMENT STRATEGY-introduced a product BOLERO a multi purpose vehicle priced at upper class level without much importance to Brand Mahindra.Bolero product did quite well ,as Bolero is doing well Mahindra came with one more product Scorpio.Scorpio is a value for money at a upper class level and a well performing vehicle.SCORPIO and BOLERO were endorsing Mahindra brand.The variants of SCORPIO and BOLERO were gave much emphasis to Mahindra brand.These 2 products build an Image for Mahindra.
Now Mahindra has a Brand image.It can carry the products on its own.It beacame a strong brand in urban market.Now the problem is that the next products should be sold only on the name of brand rather than the product name,Q is HOW?
For this Mahindra followed a ALPHA NUMERO STRATEGY-it means the product name will not carry a name ,instead it contains a alphabets and numbers like MAHINDRA XUV 500.If some one asks you which vehicle is that ,you can't say XUV 500 because people wont get it easily.SO u say ITS MAHINDRA XUV .Thats the advantage of alpha numero starategy.It adds credit to your Brand Mahindra rather than product name i.e XUV 500.Its opposite to ENDORSEMENT STRATEGY-where u say its a SCORPIO instead of Mahindra SCORPIO.
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| MAHINDRA XUV 500 |
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| SCORPIO |
very informative ! keep writing more !" all the best "
ReplyDeletethanks for ur inspiration:)
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