Blackbook Project on Luxury Car Segment

8/13/2019 Blackbook Project on Luxury Car Segment

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A

PROJECT REPORT ON

THE LUXURY CAR SEGMENT

Submitted By:-

A !"ee# Ti#$ %

TYBMS &Seme'te" ()

P"*+e,t Guide:-

M" M*i L .d $ %%

Ye " *! 'ubmi''i*#

/011-/01/

JA2 H2N3 COLLEGE

BASANTS2NG 2NST2TUTE O4 SC2ENCE 5

J6 T6 LAL7AN2 COLLEGE O4 COMMERCE

/8-/9 B ,.b y Re,% m ti*# A R* d C;u",;< te Mumb i = 900 0/0

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Ce"ti!i, te

I, ____________________________________________________ Herebycertify that Aafreen Tinwala of Jai Hind College of T.Y.B.M.S.(Semester V) has com lete! the ro"ect o# THE LUXURY CARSEGMENT the $ca!emic year 2011-2012 . The i#formatio#s%bmitte! is tr%e a#! origi# all to the best of my o'le!ge.

Sig#at%re of g%i!eSig#at%re of

College ri#ci al

Sig#at%re of co%rse

Sig#at%re of


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coor!i#ator

e ter#al e ami#er

3e,% " ti*#

I !eclare that the ro"ect e#title! THE LUXURY CAR SEGMENT %#!erthe g%i!a#ce of Mr M!i" La#dawalla s%bmitte! i# artial f%lfilme#t of

the re*%ireme#t for the a'ar! of the !egree of $a%&el!r' !fMana(e)en* '*+die' to M+),ai Uni er'i*./ M+),ai/ is my origi#al'or& + carrie! o%t !%ri#g The year 2011-2012 / a#! #ot s%bmitte! forthe a'ar! of a#y other !egree, !i loma, fello'shi or other similar or

ri e to a#y other i#stit%te, orga#i atio# or %#i-ersity by a#y other erso# .

Signature of the Student

Aafreen Tinwala


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A%#n!wled(e)en*

I# re aratio# of this re ort by me, I feel great leas%re beca%se it gi-es

me e te#si-e ractical o'le!ge i# my career. I get i!ea abo%t The/% %ry Mar&et by this ro"ect.

I am tha#&f%l to Mr. Moi /a&!a'alla for his -al%able i#s iratio# a#!g%i!a#ce ro-i!e! me thro%gho%t the co%rse of this ro"ect.

His atie#ce a#! critically go#e thro%gh the s%b"ect matter. I 'o%l! li&e tota&e o ort%#ity to e ress my gratit%!e to'ar!s all of them 'ho ha-eco#trib%te! !irectly or i#!irectly i# my ro"ect 'or&.

$t last I 'o%l! li&e to e te#! my !ee se#se of gratit%!e to my frie#!s,colleag%es a#! each i#!i-i!%al 'ho !irectly or i#!irectly hel me !%ri#gthe ro"ect 'or&.

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EXECUTIVE SUMMARY

The luxury car market in India has registered a fair am unt f gr !th in the last fe! yearsand is gr !ing at the rate f "#$ %er year& A luxury car is a luxuri usly styledaut m 'ile !hich is designed t gi(e satisfacti n and c mf rt t i ts !ner& Aluxury car ty%ically has carrying ca%acity f ) %assengers& The luxury cars in the Indianmarket are (ery ex%ensi(e* !ith %rice tags that start fr m Rs& "+ lakh& ,ence*luxury cars can nly 'e aff rded 'y the %e %le !h 'el ng t the high inc me gr u% andthere are a l t f such takers in the Indian aut m 'ile market& Alm st e(ery sect r is eyingIndia as a % tential in(esting hu'* and aut m 'ile sect r is n exce%ti n& -esides 'eing still ade(el %ing c untry* it sh uldn.t 'e a sur%rising fact that Indian ranks ! rld num'er / interms f the num'er f milli naires& This era f de(el %ment in India has 'een at its 'est*des%ite recessi n* str ng fundamentals f Indian ec n my ha(e managed t % st a decent012 gr !th last year&

Increase in dis% sa'le inc me f the %e %le has led t a different lifestyle& 3 !* the mindsetf Indian c nsumer is a l t different& 2re(i usly* Indian c nsumers used t check the %ricesf e(erything they ' ught& 3 !* the c nsumer l ks at the ex%erience f the c m%any during

the 'uying %r cess& M re than %rice* 4uality matters& This %aradigm shift has als changedthe !ay c m%anies l k at India& Sl !ly and steadily the luxury car market !hich !as in a(ery nascent c nditi n in India* is n ! c unting n 'ig re(enues fr m the c untry.scust mers&

5f late* there had 'een a stee% increase in the luxury car market& Year "++6 rec rded a!h %%ing "#$ gr !th in the luxury car market& It ! uld 'e ne!s f r many f us that Indiaranks num'er 7 in ex% rting aut m 'ile c m% nents& The 0erman machines !hich ha(efame all (er the ! rld use c m% nents !hich are im% rted fr m India&3e! entrants likeV lks!agen are g ing t heat u% the c m%etiti n e(en m re& Currently the fight is in 'et!een-M8 and Merc& 1es%ite 'eing a late entrant in the Market* -M8 has 'een successful inca%turing a c nsidera'le am unt f market share& -ut* this fight 'et!een 9ust t! c m%aniesis n t g ing t stay f r l ng as ne! %layers are entering the Indian market&

This increased demand f r luxury cars* is n t s mething that s%urt all f a sudden& Thegradual de(el %ment f the Indian ec n my and the increased dis% sa'le inc me has


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influenced %e %le t make a status sym' l !ith res%ect t their cars& :uxury sedans area(aila'le fr m the %rice range f Rs& "+ lakhs ; /+ lakhs !hich are m stly %referred 'y thefirst time 'uyers in this segment& The achie(ers* !h ada%t t the latest ha%%ening and like t

'e d minant* are al!ays


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3

C ntents

1. Intr ducti n===============================>1.1. 0r !th f luxury aut m 'ile sect r&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&1. . 5'9ecti(es f study==========================&?

1. . Sc %e f study============================61.0. Research meth d l gy========================&&&7+1. . Research limitati ns==========================

7". The three c m%eting luxury car 'rands in India================&&&&7/

.1. -M8 (s& Mercedes -en@=======================&&&7

. . :atest and fastestB Audi=======================&&&&&7). ,ist ry f the / luxury car 'rands======================&7?

.1. -M8===============================&&7?

. . Mercedes -en@============================76

. . Audi===============================&&&&"+0. Re(ie! fliterature===========================&&&&"70.1. -rand %ers nality==========================&&&&"70. . Creati n f 'rand

%ers nality======================&&""0. . -rand %ers nality f

cars=======================&&&&&"/. :uxury car

segment===========================&&&&&"#.1. Characteristics===========================&&&&&&"

#2. :uxury cars inIndia============================&")2.1. -M8===============================&&&&"

)2. . Mercedes

-en@============================&"?2. . Audi================================&&/

73. C nsumer 'eha(i ur

trends=========================&//3.1. C gniti n t

em ti n========================&&&&&&&&//3. . S%lurge f r s%ecial===========================

//3. . Its mine c nce%t============================

//3.0. % trends===============================

//3. . M (ing f r!ard============================

/#4. 1ata analysis and

inter%retati n=======================&&&/>4.1. 2rimary

data============================&&&&&&/>4. . Sec ndary


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C,A2TER 7 I3TR51UCTI53

7&70r !th f the luxury aut m 'ile sect r

India* the ! rldDs sec ndBfastest gr !ing aut market* is in t %Bgear gr !th& The c untry is ah t destinati n f r aut m 'ile manufacturers due t its r 'ust ec n mic gr !th* fa( ura'ledem gra%hics* higher dis% sa'le inc me* changing lifestyle and % siti(e industrial ec Bsystem& India is ex%ected t 'ec me the third 'iggest aut maker in the ! rld !ithin nextdecade&

The various reasons for the growth of luxury cars in India are:

The ec n my is r is ing in the c unt ry !hich has g i(en the %e %le m redi s% sa' le inc me !hich they are s%ending in 'uying luxury cars&

Vari us l an schemes ha(e 'een launched 'y the aut m 'ile manufacturers and thefinancial instituti ns& This has made it (ery easy f r the %e %le t 'uy luxury cars and this has

' sted the luxury car market in India&

8i th the IT ' m in the c unt ry many y ungsters a re earning h igh %ay %ac ka ge s !hich ena'le them t 'uy luxury cars& And this ha(e further gi(en ' st t themarket f luxury car in India&

T h e g ( e r n me n t h a ( e f r m u l a te d m a n y % l i c e s s u c h a s t h e r e l a x a t i nf e < u i t y regulati ns and the reducti n f im% rt tariffs %ertaining t the aut m 'ile

industry& These ha(e hel%ed t reduce the %rices f the luxury cars* !hich in turnha (e led t the gr !th f the luxury car market in India&

The various automobile companies manufacturing luxury cars for India are:

-M8 manufacturers the -M8 #/+i and -M8 >)+li m dels

R lls R yce manufactures the R lls R yce 2hant m V 7" m del

2 rsche manufactures the 677 Carrera* 677 Carrera S* and Cayman S m dels

1aimler Chrysler manufactures the Mercedes -en@ C and E class m dels

-entley manufactures the -entley Range and -entley C ntinental m dels

:uxury car market in India has gr !n (er the last fe! years& That it c ntinues t gr ! m reeff rts must 'e made 'y the Indian aut m 'ile industry and the g (ernment f India& And

nly then the luxury car market in India !ill 'e a'le t reach its heights&

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7&"5'9ecti(es f study

The research '9ecti(e is a statement* in a %recise termin l gy as % ssi'le f !hatinf rmati n is needed& The research '9ecti(es sh uld 'e framed s that 'taining theinf rmati n !ill ensure that the research %ur% se is satisfied& In India* the sky is 'right f r the

luxury car makers& & The Indian c nsumers. inclinati n f r !ning a luxury car sh ts u% thedemand f r such cars f r the %ast fe! m nths& Many car c m%anies are n ! intr ducing carsin the luxury car segment t attract ne! cust mers&

The various objectives of the studies are as follows:

T determine the sc %e f luxury cars in India&

0r !th %% rtunities f luxury cars in India&

T identify and analy@e the fact rs influencing the %urchase f cars

T determine the dem gra%hic (aria'les f the cust mers f different 'rands f cars

&

1.1 Sc %e f study

1efining the sc %e f the research r research ' undaries ensures the desired %recisi n r accuracy f the result &It is aimed t study the luxury car market and its sc %e

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in India& The main f cus f the %r 9ect is t study the gr !th f cars like -M8*MERCE1ES -E3F and AU1I& It als leads t identify and understand the sc %e andgr !th %% rtunities f luxury car 'rands in India

3 !adays* car has 'ec me a necessity and f rms a %art f life& Theref re* there is asignificant sc %e t examine the %erce%ti n and %urchase 'eha(i ur f the c nsumers f cars&Gn !ledge f the 'uying 'eha(i ur f the different market segments hel%s a seller t selecttheir target segment and e( l(e marketing strategies t increase the sales& The sc %e f thisresearch has a (ery g d future&

1. Research meth d l gy

A research %r cess c nsists f stages r ste%s that guide the %r 9ect fr m its c nce%ti n

thr ugh the final analysis* rec mmendati ns and ultimate acti ns& The research %r cess %r (ides a systematic %lanned a%%r ach t the research %r 9ects and ensures that all as%ect f

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the research %r 9ects is c nsistent !ith each ther& This cha%ter aims t understand theresearch meth d l gy esta'lishing a frame! rk f e(aluati n and re(aluati n f %rimary andsec ndary research& The techni


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) Sec ndary dataB Sec ndary data is 'eing c llected 'y thr ugh internet* (ari us!e'sites&

S me articles n the research t %ic !ere als taken int c nsiderati n& There are t!ty%es f sec ndary data internal and external sec ndary data& A sec ndary s urce f

data used c nsists f ' ks and !e'sites&7& &/ Making sam%ling %lan

It is a descri%ti n f the characteristics f that gr u% f %e %le fr m !h m a c urse isintended& It attem%ts t descri'e them as they are rather than as the descri'er ! uld like themt 'e& Als called the audience the audience t 'e ser(ed 'y ur %r 9ects includes keydem gra%hic inf rmati n ie age* sex*etcJ& The target % %ulati n is the % %ulati n I !ant tmake c nclusi ns a' ut&

7& &/&a Sam%le si@e

This in( l(es figuring ut h ! many sam%les ne need . The sam%le si@e in this research is+&

7& &/& ' Area f sam%ling

The area of sam li#g of this research 'as M%mbai , I#!ia.

7& &/&c Sam%ling techni


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C,A2TER " T,E T,REE C5M2ETI30 :UXURYCAR -RA31S I3 I31IA

Ma9 r luxury cars in IndiaB MercedesB-en@* -M8 and Audi %ut t gether ha(e ar und?#$market share&

Hig "

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The 0erman car 'rand MercedesB-en@ had first m (er ad(antage as it had started%erati ns in India in 766# and there !as n direct c m%etiti n in this categ ry& S * it

r e ma i ne d K 3u me r U n . l ux ur y c a r ' ra n d i n I n di a f r m r e t h an ade ca de & -u t* ma rk et dynamics ha(e changed signif icantly after the entry f-M8 in "++) f ll !ed 'y Audi in"++>&The (erall market share f luxury cars has

'een re rgani@ed due t the ne! entrants& This has res ul te d in ne ! e< ua ti n s 'e ingf rged am ngst the (ari us %layers* dri(en %rimari ly 'y a ra%idly s!ellingmilli naireBclu' ha(ing di(ersified ch ices and %references& In "++)* -M8 had 6$ marketshare !hich has n ! gr !n t "$* cata%ulting -M8 as the num'er ne luxury

'rand in terms f sales& Audi !hich started its %erati ns in "++> has had the fastest gr !thBrate am ngst the three and has n ! ca%tured "+$ f the luxury car market& S * the Indianl u x u r y c a r m a r k e t i s f a ( u r a ' l e f r n e ! e n t r a n t s ! h a r e c a % a ' l e fgra ' ' i ng the unta%%ed %% rtuni ties 'y f l l !ing the cus t merB r ienteda%%r ach and ha(ing a'ility t induce demand 'y inn (ati n at each le(el f marketing

mix& T get a dee%er understanding f the scenari !e need t de(el % int the c m%etiti(estrategies f these three 'rands&

"&7 -M8 and MercedesB-en@

MercedesB-en@ India :imited !as esta'lished in 3 (em'er 766 as a 9 in (enture 'et!een1aimlerB-en@ A0 and erst!hile Telc %resently* Tata M t rsJ& It has tra(erseda l ng 9 u r n e y s t a r t i n g ! i t h t h e l a u n c h f n e f t h e m s t s u c c e s s f u l

m d e l s ! r l d ! i d e ; t h e MercedesB-en@ E Class 87" J in March 766#&MercedesIndia* n ! kn !n as 1aimlerChrysler India 2ri(ate : td&* has a s tateB fBtheBar tfullyBe


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' th f cus n s% rtier features and ne! launches t enc urage y ung 'uyers& 1ecrease in thea(erage age f luxury car 'uyers is a fa( ura'le c nditi n f r this kind f selling strategy&In the Indian scenari * !here >#$ f %assenger cars and )+$ f luxury cars are %urchasedthr ugh financing* financial su%%lementary su%% rt is critical t success f thecar makers& Taking this int acc unt* -M8 0r u% is %lanning t intr duce -M8

Hin anc ia l Ser(i ces India* !hich !ill %r (ide ser(ices t -M8 cust mers* %r (idingfinancing facilities t fleetB !ners and c mmercialBfinancing t their dealers&1isc unting lder m dels is an ther successful strategy a%%lied 'y the c m%any&It is als %lanning t launch K2reB5!ned Car Sales 2r gram. in "+7+& -M8.s #Byear c (erage after salesJ is an ther attracti(e fact r c m%ared t the "Byear!arrant y %r ( ided 'y Me rcedesB -en@& In the Indian scenari * the luxury cars aregenerally chauffeurBdri(en& This trend has 'een !ellBim'i'ed 'y -M8 as it has f cusedm re n 'ackBseat facilities during designing and marketing& The c m%anyhas ' e e n f c u s i n g n s m e t h e r t e c h n l g i e s l i k e I n t e g r a l A c t i ( e BSt ee ri ng * 2 a r k 1 is t an c e C ntr l 21CJ and ,eadBu% 1is%lay X#J f r %r (idingenhanced features f r c mf rt in the Indian dri(ing c nditi ns&-M8 has 'een acting (ery

s!iftly in identifying its dealershi% l cati ns s as t achie(e maximum sales ( lume aligned&-M8 !ith 7# dealershi% l cati ns t! l cati ns in 1elhi and Mum'aiJ c m%etes !ithMercedesB-en@ ha(ing /" dealershi% l cati ns 'ecause it has strategically ex%anded itsdealershi% net! rk t higher demand luxury car markets& In next %hase -M8 is %lanningt target emerging tier 7 and " cities like Lai%ur and :uckn ! t c m%ete !ithMercedes !h se "#B/+$ sales re(enue c mes fr m tier " cities&

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"&" :atest and HastestB Audi A0

Audi India started %erating in "++> 'y esta'lishing its !n sales c m%any in Mum'ai& Thec m%any started %r ducti n f Audi A in 3 (em'er "++>* f ll !ed 'y Audi A) in "++? inits Auranga'ad %lant& Rest f the m dels B Audi A?* Audi 4# and 4>* Audi TT

and su%er s%eed r ac ing ca r Aud i R? a re im% r ted a s C-Us& Aud i i n (e s t edsignificantly in 'rand 'uilding* marketing the %r duct


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C,A2TER / ,IST5RY 5H T,E / :UXURY CAR-RA31S -M8* MERCE1ES -E3F* and AU1IJ

/&7 -M8

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Alth ugh -M8s current fame and re%utati n as ne f the greatest aut m 'ile

manufacturers can 'e m stly linked t m dels %r duced in the last t! decades* the hist ry fthe mar


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The M erce desB -en@ l g i s ne f t h e m s t f am us ' r ands in t her! rld&The -en@ l g is a sim%listic threeB% inted star that re%resents i t s d mi n a t i n f t h ela nd * th e se a* an d th e ai r& Th e fa m us th re eB % inted star !as designed 'y0 ttlie' 1aimler t sh ! the a'ility f his m t rs f r lan d* ai r and seaBusa ge& It !asfi rs t seen n a 1a imler in76+6* and !as c m'ined !ith the -en@ laurel !reath in 76") tsignify the uni n f the t! firms& MercedesB -en@ is the ! rld.s ldest aut m 'ilemanufacturer&

The c m%any.s f unders* 0 ttlie' 1aimler and Carl -en@* c ntinued t make aut m ti(ehist ry f ll !ing their in(enti n f the aut m 'ile in 7??)& As an aut m ti(e %i neer*1aimler and its em%l yees are c mmitted t excellence and act res% nsi'ly t !ards s cietyand the en(ir nment* t sha%e the future f safe and sustaina'le m 'ility !ithgr und'reaking techn l gies and highB


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/&/ AU1I

The Audi 'adge the DH ur RingsD is the em'lem f ne f the ldest car manufacturers in0ermany& It sym' lises the 76/" merger f the f ur inde%endent m t rB(ehiclemanufacturers Audi* 1G8* , rch and 8anderer& T gether !ith the 3SU 'rand* !hich

9 ined in 76)6* these c m%anies are the r ts f the %resentBday AU1I A0& After the !ar theAudi name B !hich is :atin f r ,earN B disa%%eared* 'ut !as re(i(ed in 76)#* using the f urrings as a l g & Als * the name is s rt f a %un n Dh erchD* 0erman f r DhearD* name fne fthe f unders& The c m%any itself is m re than a century ld& The f ur rings in the l g ha(en thing t d !ith the 5lym%ic rings&

C,A2TER REVIE8 5H :ITERATURE

&7 -rand 2ers nality

A 'rand is Oa set f ex%ectati n and ass ciati n e( ked fr m a c m%any r %r duct& A 'randis h ! y ur key c nstituentsB cust mers* em%l yees* shareh lders etc& ex%erience !hat y u

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'randB its %rice high r l !* dd r e(enJ* retail st re l cati n imaginary ass ciati nJ*and %r duct f rm s lidQli


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differentiating n the em ti nal %ayB ff a %articular car m delQ'rand %r (ides t thecust mer& This* f c urse* (aries fr m the segment t segment and als n h ! l ng a

%articular m del has 'een in the market& H r ins ta nc e* !hi le ad (e rt ising f r ent ry le(e lr smaller cars tends t f cus m re n the rati nal r functi nal 'enefits f the

(ehicle s* the diff erentia ti n s is increas ingly n the em ti nal 'enefits !hen it c mest high end cars&O0enerally* it has 'een seen as ne m (e u% the (alue chain* thedifferentiati n is m re n the em ti nal %ayB ff& 2e %le 'uy car as an extensi n ftheir %ers nality rather than 9ust features& A car* in India* hel%s 'uild u% sh ! ff* s cialesteem (alue& The ad(ertising ! uld al s (a ry ac c r di ng t t he s e gm en t !h ic h

ne is targeting*P he says& H r instance* the Che(r let 5%tra ad !hich de%icts ay ung hus'and dri(ing his !ife t see the m n n the ccasi n f Gar(achauthJ sh !san 5%tra c nsumer as s me ne !h 'elie(es in family (alues and indulging l (es

nes&O8e find that ty%ically %r file f an 5%tra c nsumer is s me ne !h is in the age gr u%f /#B #years and has a chauffeur& ,e 'uys a car n t nly f r himself 'ut als f r the family

and tries t make u%* f r n t 'eing a'le t s%end en ugh time* 'y indulging l (e nes*P % intsutdated& The % siti ning g es !ell !ith the c m%anies catch lines f Of r as%ecial 9 urney called lifeP& ,igh end car maker Sk da aut t * thr ugh itsad(ertising* attem%ts t c nnect !ith its c nsumer n em ti nal le(el& OCar isthe extensi n f the %ers nality and ur ad(ertising sh !s the c nsumer t 'ey uthful* imageBc nsci us and e(en 'it a mach & The cam%aign 9 intly made 'ySk da.s marketing de%artment and ad agency I- 8 n t nly c mmunicates the


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C,A2TER # :UXURY CAR SE0ME3T

:uxury (ehic le is a marketing term f r a (ehicle that %r (ides luxuryB %leasant anddecent desira'le features 'ey nd strict necessity at increased ex%ense& The term suggest a(ehicle !ith greater e


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8hile a high %rice is the m st fre 'uilt their first -M8 car christened -M8 /Q7#& H r the greater %art fthe %ast century& -M8 Car hassled the ! rld in creating cars f r the rich& Exce%ti nal
http://en.wikipedia.org/wiki/Anti-lock_braking_systemhttp://en.wikipedia.org/wiki/Anti-lock_braking_systemhttp://en.wikipedia.org/wiki/Anti-lock_braking_systemhttp://en.wikipedia.org/wiki/Electronic_stability_controlhttp://en.wikipedia.org/wiki/DVDhttp://en.wikipedia.org/wiki/Smart_carhttp://en.wikipedia.org/wiki/BMWhttp://en.wikipedia.org/wiki/Jaguar_Carshttp://www.infibeam.com/Cars/search?condition=New&make=BMWhttp://en.wikipedia.org/wiki/Anti-lock_braking_systemhttp://en.wikipedia.org/wiki/Electronic_stability_controlhttp://en.wikipedia.org/wiki/Electronic_stability_controlhttp://en.wikipedia.org/wiki/DVDhttp://en.wikipedia.org/wiki/Smart_carhttp://en.wikipedia.org/wiki/BMWhttp://en.wikipedia.org/wiki/Jaguar_Carshttp://www.infibeam.com/Cars/search?condition=New&make=BMWhttp://www.infibeam.com/Cars/search?condition=New&make=BMW


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design c nce%t and elegance has al!ays 'een a %art f the -M8 cars& -M8 Cars in India %utinn (ati n* intelligence and techn l gy t ensure the safety and dri(ing c mf rt f its %r ud

!ners& -M8 India c m%etes !ith its ri(als 'y exhi'iting % !erfully %erf rming (ehiclesand ha(ing a slight edge (er the thers&

BMW !"# $!%%I&' I& T() %*+*", !" #)'M)&T

)&7&7 -M8 / SERIES

The smallest f the -M8s in India* the / Series is a highly c m%etent entryBle(el luxurysedan& As is the case !ith all cars fr m the -a(arian mar


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)&" Mercedes -en@

M e r c e d e s - e n@ c a r s f f i c i a l l y c a m e t I n d i a i n 7 6 6 i n c l l a ' r a t i n !ith Telc &Traditi nally* Mercedes-en@ cars ha(e c nsistently catered t !ealthy* rich*and su%erBrich c nsumers& The manufacturerDs name kee%s n changing* 'utMercedesB-en@ cars remain MercedesB-en@* f r the MercedesB-en@ name has agreater 'rand relati nshi% !ith ! rld c nsumers than their manufacturer.s currentc r% rate name B 1aimlerB-en@* 1aimlerBChrysler* r 1aimler A0 0 2 %ular Mercedes -en@sedan car %rices range 'et!een ar und ru%ees t!entyBnine lakhs t MercedesB-en@es at a 'ita' (e ne cr re thirty lakhs ru%ees&

Mercedes Ben1 presence in India

3


28/54

MercedesB-en@ has 'een ass ciated !ith India f r m re than #+ years& 2resently* MercedesB-en@ India.s engagement in India c (ers se(eral d mains

aJ : cal %r ducti n f MercedesB-en@ cars 'J Making a(aila'le im% rted MercedesB-en@ carscJ C mmercial Vehicle %erati nsdJ 0l 'al s urcing f aut c m% nents

#ocial Involvement of Mercedes2Ben1MercedesB-en@ is als in( l(ed !ith s cialB riented %r grams acr ss India like

a) -i fuel fr m Latr %ha. 'J R ad safety %r 9ect f r childrencJ Aut m ti(e educati n* etc&dJ Ca%ti(e aut m ti(e techn l gy research and de(el %ment

MercedesB-en@ India has 'een delighting cust mers !ith str ng 'rands and a !ide range f %r ducts e


29/54

)&"&" 2ricing f Mercedes -en@

Variants 2rice range

C "++ C0I Elegance Rs& "?*/+*+++

C "++ C0I A(antgarde Rs& "6*#/*+++

C "++ C0I Elegance -lue EHHICIE3CY Rs& "?*#?*+++

C "++ C0I A(antgarde

-:ueEHHICIE3CY

Rs& "6*>6*6>+

C "#+ C1I Elegance Rs& /"*+/*#++

C "#+ C1I A(antgarde Rs& /"*?7*#++

C "#+ C1I Elegance -:ueEHHICIE3CY Rs& /"*+/*+++

C "#+ C1I A(antgarde Rs& /"*/+*+++

5


30/54

-:ueEHHICIE3CY

)&/ Audi

The fam us DH ur RingsD B f Audi are sym' li@ed n its 'adge& It has ruled Eur %ean r ads

since 76/"* th ugh Audi 'egan manufacturing in 7?66& The f ur rings f the

Audi ' adge sym' li@e f ur %i neer car manufac turers f 0ermany Audi*

1G8* , rch and 8ander er& Audi A0 came fr m amalgamating these c m%anies in

76/"& Audi cars sym' li@e status and %r es ti ge f r Au di c ns um er s ! rl d! id e*

a n d f r A u d i c n s u m e r s * Audi Cars ar e m re ! rksB fBart than sim%le su%er

efficient machines& An Audi car is a statement f !h By uBare& Audi are regarded as

6
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31/54

a sym' l f class* elegance and luxury& Audi India 'egan % e r a t i n s i n " + +> a s a

d i ( i s i n f V l k s ! ag e n 0 r u % S a l e s I n d i a 2 ( t & : t d & ' a s e d i n Mum'ai&

Audi cars n ! in India are fully im% rted r assem'led at the Auranga'ad %lant f Sk da

Aut & Audi India is %r 9ecting its cars t the Indian elite as the 'est luxury cars

t match their status& Audi cars are starting t fire the fancy f the rich Indian c nsumer and

the u%%er middle class ! i t h the i r cur ren t ran ge f Aud i A * Audi A)* Aud i

A ?* a nd A ud i 4 > s ed an c ar s& Audi India is ex%anding the net! rk f Audi

dealershi%s acr ss Indian metr s& 2 %ular Audi m dels range in nBr ad %rice fr m 'el !

ru%ees thirtyBt! lakhs t a 'it a' (e ru%ees neBCr re&

)&/&7 Audi A

The "+7" Audi A ranks / ut f "7 U%scale Midsi@e Cars& This ranking is 'ased n ur

analysis f "6 %u'lished re(ie!s and test dri(es f the Audi A & 8ith its shar% interi r and

exteri r styling* a(aila'le allB!heel dri(e and g d fuel ec n my* the "+7" Audi A is a

(ia'le alternati(e t m re c stly ri(als& Hre


32/54

)&/&" 2ricing f Audi

Variants 2rices

Audi A 7&? THSI Rs "6*>7* ++

3e! Audi A "&+ T1I multitr nic Rs "6*++*+++

Audi A "&+ THSI Rs /7*))* ++

3e! Audi A /&" HSI ti%tr nic 4uattr Rs /)*++*+++

Audi A /&+ T1I 4uattr Rs />*>"*+++

C,A2TER > C53SUMER -E,AVI5UR TRE31S


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In the %ast* %restige !as due t real financial distance& At heart* luxury is a' ut exclusi(ity&

T day* gi(en the rise in %urchasing % !er* luxury c nsum%ti n is n l nger reser(ed f r the

fe!& This is a time in hist ry !hen the affluent masses are n l nger at a financial distance

fr m luxury& -ut %restige and exclusi(ity has t 'e dri(en 'y distance ; exce%t this distance

is n l nger financial* 'ut intellectual and cultural& A 'etter !ay t l k at the trends that

exist in this market is t segregate them int categ ries* namely the marketing mix trends

%r duct* %rice* %lace* %r m ti nJ and c nsumer 'eha(i ur trends&

>&7 C gniti n t em ti n

The Indian c nsumer* t day* is influenced m re 'y the affecti(e c m% nents than

'y the c gni ti (e elem en ts& In th e cas e f Merced es -e n@ * the c m%an yc mmunicates the s tr ng relat i nshi% f the car ! i th s tatus* sn ' (alue andimage& In the case f Audi* the c m%any c mmunicates sleek design and s n&, !e(er* it is n l nger necessarily true that cust mers !ill take the c gniti(e r ute !hile

%urchasing a luxury car& Cust mers may (ie! Mercedes -en@* Audi and -M8 as %arity carse&/ OIts mineP c nce%t

H r a c nsumer !h ch ses his h use and his ! rk%lace* the car !hich is %r 'a'ly hism st %ri@ed % ssessi nJ !ill n t remain s mething he can.t ch se f r l ng& The futuretrends ! uld !itness cust mi@ed luxury cars entering the Indian market&

>& 2 Trends

>& &7 2r duct


34/54

Each f the c m%anies started ff in India !ith nly 7B" cars& Audi started !ith A * -M8

!ith -M8 / series and Mercedes !ith C""+ and 1"#+& Mercedes started its %erati n in

India in 766) and then sl !ly -M8 and Audi came in& The cars !ere im% rted as

c m%letely 'uilt units& And the indigenisati n !as initially (ery less t the tune f " t /

$&At %resent the range f cars !hich a c m%any %r (ides in India is alm st e& & 2r m ti n

0


35/54

Hr m !hat used t 'e a minimal le(el f %resence in Indian Aut Ex% s* luxury

aut m 'ile c m%anies are increasingly m (ing t !ards melding !ith the sua(e

c nsumers

a) Studi -M8 in the c r% rate heart f 3ati nal Ca%ital Regi n !ith a %ur% se f

ca%turing share f heart

b) 2artici%ati n in fashi n !eeks and %h t exhi'its e&g& BAudi 87" 4uattr

%resented in :akme India Hashi n 8eek

c) 2r duct %lacement in - lly! d m (ies* !ith the recent -M8 %lacement in OR ck

5nNP

!) Ass ciati n !ith lifestyle s% rts e&g&; Audi rgani@ing the Audi 4uattr cu% in India*

ass ciating !ith g lf and m t rs% rts&

> M (ing f r!ard

Alth ugh the gr !th in the luxury aut m 'ile segment is c m%ared t the recent Chinese

markets* the f rces sha%ing the de(el %ment are B% int frame! rk f r seamlessly ca%turing India.s gr !ing fascinati n !ith

luxury c nsum%ti n

a) Res%ect C nnect !ith luxury c nsumers as a selecti(e target& :uxury 'rands need

t res%ect this % int f difference in all interacti ns 'et!een the 'rand and the

c nsumer&

b) Segment Ackn !ledge luxury c nsumer su'sets& :uxury 'rands need t identify*differentiate and %ri riti@e the m st %r fita'le su'sets f r targeted strategies&

c) Insight Identify !hat is im% rtant t the defined target& M ti(ati ns c uld 'e 'ased

n %ers nal and n nB%ers nal fact rs&

!) C nnect Assess !hich 'rand interacti ns really matter& H r exam%le* friends and

family are an im% rtant influence n luxury c nsum%ti n in India&

e) Ex%erience Esta'lish em ti nal c nnecti(ity& 1ee% and meaningful relati nshi%s

need t 'e de(el %ed in rder t !in the Ks ul. f the luxury c nsumer&


36/54

f) Indianness Em'race and cele'rate the KIndianness. 'rand& India has a (ery % !erful

and uni


37/54

3*)#TI &&!I")

47J 8hich age gr u% is m st interested in 'uying luxury cars

Ta'le 7&7

Age 3 f res% ndents

7?B" )

"#B/ 7

/#B 77

#B# >

## and m re "

T tal +

Analysis

Acc rding t the res% ndents* Age gr u% f "#B/ is m st interested in

'uyin g :uxur y cars that is ar und / $ f ll !ed 'y Age 0r u% f /#B &

4"J 1 es %urchase f :uxury is car directly related t inc me le(el

Ta'le "&7

Ans!ers 3 f res% ndents

Yes />

3 /

Analysis

The result !as t tally ske!ed t ne side and res% ndents agree that 2urchase f

:uxury cars is t tally related t the Inc me le(el f an Indi(idual !hich is 6"$&

4/J Rank the f ll !ing %arameters n y ur %urchase %reference

3


38/54

Ta'le /&7

Ans!ers 3 f res% ndents

2rice 7+

4uality 7#

A(aila'ility >

In( l(ement #

Rec mmendati n /

T tal +

Analysis

M st f the res% ndents %refer


39/54

5ur assum%ti n is c rrect* a' ut >/$ f the res% ndents 'elie(e in thesu%eri r "$ f the res% ndents are f the (ie! that ser(ice J 8hat is the fact r the effect m st !hile %urchasing a car

Chart >&7

AnalysisThe gra%h indicates that ma9 rly %e %le tend t see as 'rand f the car as the ma9 r fact rthata f f e c t s t h e ' u y i n g d e c i s i n f a c u s t m e r a n d t h e r f a c t r s t ha t a r e t t a k e n i n t c nsiderati ns are engine % !er* sha%e* l ks* etc&

4?J 8hat are the fact rs that influence the ccu%ati ns in 'uying decisi n

Ta'le ?&7

Ty%es f 9 ' 3 f res% ndents 2ercentage

2r fessi nals " ?$

0 (ernment em%l yees ) 7"$

3ri.s 77 ""$

-usinessman 6 7?$

5


40/54

T tal #+ 7++$

Analysis

Hr m the a' (e chart it can 'e f und that the ?$ cust mers are %r fessi nals* ""$

!ere 3RIKs&

46J 8hat is the %urchasing %attern f luxury cars

Chart 6&7

Analysis

Hr m the a' (e chart it can 'e f und that ??$ f the cust mers ha(e n %re(i us

ex%erience !ith 'uying luxury cars&

47+J 8hat are the s urces f inf rmati n t get t kn ! a' ut the luxury cars

Ta'le 7+&7

S5URCES 35& 5H RES2531E3TS 2ERCE3TA0E

Tele(isi n "" $

3e!s%a%er / )$

2ers nnel s urces ) 7"$

2r duct dem s " $

sales re%resentati(es # 7+$

Ex%erienced users 7" " $

06


41/54

T5TA: #+ 7++$

Analysis

Hr m the a' (e chart it can 'e f und that $ !ere influenced 'y the TV ad(ertisement& "

$ influenced 'y ex%erienced users* 7"$ !ere influenced 'y 2ers nal s urces and 7+$ !ere

influenced 'y sales re%resentati(es& 3e!s %a%er and %r duct dem s !ere influenced 'y )$

and $ res%ecti(ely .

477J 8hat are the general fact rs that influence a cust mer %urchase decisi n

Chart 77&7

!nalysis:

The a' (e ta'le sh !s that m st f the cust mers rates c mf rt as the m st im% rtant fact r

f r %urchasing a car* then c mes mileage* style and %rice res%ecti(ely& C l ur is n t ha(ing

that much influence n 'uying decisi n&

47"J 8hat are the cust mers %ini n n style f r %urchasing a luxury car

Chart 7"&7

01


42/54

Analysis Hr m the a' (e ta'le !e can see that* / $ cust mers !ere highly influenced and )

$ !ere influenced 'y the style f the luxury cars !hile making their %urchase

decisi n& The rest "$ !ere n t influenced 'y the style&

47/J 8hat is the cust mers %ini n a' ut c mf rt

hart 5-05

Analysis

0


43/54

The a' (e chart sh !s that >+ $ cust mers !ere highly influenced and /+$ !ere

influenced 'y the c mf rt and c n(enience !hile making %urchase decisi n&

47 J 8hat is cust mer.s %ini n a' ut %rice

Chart 7 &7

Analysis

The chart a' (e sh !s that ? $ cust mers !ere influenced and "$ !ere highly

influenced 'y the %rice& The remaining 7+$ !ere n t influenced 'y the %rice&

47#J 8hat is cust mer %ini n a' ut %rice f luxury cars

Chart 7#&7

0


44/54

Analysis

Hr m the a' (e ta'le !e can see that ?"$ cust mers !ere influenced and 7 $ !ere highly

influenced 'y the %r duct features f luxury cars& $ !as n t influenced 'y the %r duct

features&

47)J 8hat is cust mer %ini n a' ut techn l gy !hile %urchasing a luxury car

Ta'le 7)&7

:e(el f influence 3 f res% ndents 2ercentage

,ighly influenced 7 "?$

Influenced // ))$

3 t influenced / )$

T tal #+ 7++$

Chart 7)&7

00


45/54

Analysis

The a' (e ta'le sh !s that 7 $ cust mers !ere highly influenced and //$ cust mers

highly influenced 'y the techn l gy& Remaining /$ !as n t influenced 'y the techn l gy&

47>J 8hat is cust mer.s %ini n a' ut 'rand image f luxury cars

Chart 7>&7

Analysis

0


46/54

The chart a' (e sh !s that )"$ f cust mers !ere influenced 'y the 'rand image !hile makingtheir 'uying decisi n !hereas /?$ res% ndents !ere n t influenced 'y the 'rand image&

47?J 8hat is the %ur% se f cust mers 'uying decisi n

Chart 7?&7

Analysis

The chart sh !s that 6)$ cust mers using their car f r %ers nal %ur% ses& The remaining

$ !ere using it f r fficial %ur% ses&

476J 8hat is the %ini n f cust mer a' ut after sales ser(ice

Ta'le 76&7

:EVE: 5H I3H:UE3CE 35 5H RES2531E3TS 2ERCE3TA0E

,ighly influenced 7) /"$

Influenced 7/ ")$

3eutral 7 "?$

:ess influenced ) 7"$

02


47/54

3 t influenced 7 "$

T tal #+ 7++$

Analysis

This sh !s that /"$ cust mers are highly influenced !ith the after sales ser(ice f thec m%anies !here as there is a mere "$ cust mers !h aren.t satisfied !ith the after sales

?&" Sec ndary data c llecti n

03


48/54

Sec ndary data is data c llected 'y s me ne ther than the user& C mm n s urces fsec ndary data include censuses* sur(eys* rgani@ati nal rec rds and data c llected thr ugh& India added "/*+++ milli naires fr m"++) t "++>* taking t tal figure t ar und 7"/*+++ milli naires !ealth as measured in US1 l l a r s Mer r i l l : ynch Ca% 0emin i Re% r t J& , ! e (e r* du r ing r eces s i n*t h e c u n t r y n t i c e d a decline f /7&)$ in num'er f milli naires& -ut % stBrecessi nrec (ery !as much faster c m%ared t ther ec n mies& These num'ers are ex%ectedt gr ! u% t 7* +*+++ 'y the year "+7+& This r 'ust gr ! th in the num'er

f milli naires in the c untry* 'eing ne f the highest gl 'ally* %a(es the !ayf r further gr !th f the luxury car market&

0ra%h ?&"&7

0ra%h ?&"&"

In the %ast fe! years this gr !th f luxury car sa les i s dri (en ma9 r ly 'yincreased !ealthBcreati n !ithin a(erage Indian % %ulati n and the desire f indi(iduals t

9 in the milli naireBc l u ' ' y f l a u n t i n g t h e i r ! e a l t h & 0 r ! t h f I n d i a nec n m y ha s 'e en fa st er th an t he r emerging ec n mies during recent times&

04
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49/54

0l 'ally* India had the highest gr !thBrate ""&>$J f milli naire % %ulati n during the year"++>& India added "/*+++ milli naires fr m "++) t "++>* taking t tal figure t ar und7"/*+++ milli naires !ealth as measured in US 1 llars M e r r i l l : y nc h C a % 0 e m i n iRe% rt J& , ! e (e r* dur ing rec ess i n * the c u nt r y n t ice d a decline f /7&)$in num'er f milli naires& -ut % stBrecessi n rec (ery !as much faster c m%ared t ther

ec n mies& These num'ers are ex%ected t gr ! u% t 7* +*+++ 'y the year "+7+&This r 'ust gr !th in the num'er f milli naires in the c untry* 'eing ne f thehighest gl 'ally* %a(es the !ay f r further gr !th f the luxury car market& Inadditi n* the a(erage age f an Indian milli naire has c me d !n t /#B + years fr m theearlier a(erage f #+ years& An increasing num'er f y ung entre%reneurs and %r fessi nalsfr m (ari us fields are 'uying luxury cars and this affluent segment has 'een ' sting sales( lumes& If !e l k int city!ise !ealth distri'uti n* the n rthern regi n inIndia c m%rising f cities like 1elhi* Chan diga rh* :udhi ana* Shiml a* and LalandharJc m%ri ses higher density f milli naire % %ulati n than rest f the %arts& This regi ntheref re has the highest luxury car sales& After this c me* 0reater Mum'ai* Ahmeda'ad*2une* and Chennai&

T he se c i t ie s h a( e a l ux ur y c ar s al es % at te rn ! hi ch i s s t i l l h ig he rc m % a r e t r e s t f t he c untry& The hist rical regi nal sales data f luxury cars s ld inIndia* sh !s that /"B/#$ f the t tal are s ld in 1elhi regi n nly& This is % ssi'lydue t the %sy ch l g ica l %re fer enc e shi ft am ng the 3 rth Indian % %ulati n t sh !

ff their !ealth& 1elhi is f ll !ed in this list 'y Mum'ai* and 2un9a' state* !here :udhianaand Lalandhar are at the t % t! sl ts& 1elhi als ha%%ens t 'e the 'iggest market f rMercedesB-en@* Mum'a i ranks sec nd f l l !ed 'y the s ta tes f 0u9arat*Garnataka* Tamil 3adu and 2un9a'& This ge gra%hically distri'uted % %ulati nc uld 'e clustered int classes n the 'asis f (eral l 'eha(i ural %atterns

'ser(ed in luxury 'rand c nsumers&

05


50/54

C,A2TER 6 C53C:USI53

The ad(ancing demand f luxury cars acr ss the gl 'e re%resents a %r mising

tr end t the gr !th f the aut m 'ile industry& The rising demand f luxury cars in India isa sign f %e %le getting richer day 'y day as !ell as their desires are als increasing

and ther e i s als i ncrease in the s%ending % !e r f the cust mer !hich sh !s that

ec n my f India is als de(el %ing at a fast rate& There has 'een a "++ $ gr !th in the

aut m 'ile industry in India es%ecially in the luxury segment and the s% rts car segment& 1ue

t !hich Eur %ean luxury car makers are intr ducing m st f their s% rts cars m dels in

India due t the rising demand and interest f the %e %le&

Increase in dis% sa'le inc me f the %e %le has led t a different lifestyle& 3 !* the mindsetf Indian c nsumer is a l t different& 2re(i usly* Indian c nsumers used t check the %ricesf e(erything they ' ught& 3 !* the c nsumer l ks at the ex%erience f the c m%any during

the 'uying %r cess& M re than %rice* 4uality matters& This %aradigm shift has als changedthe !ay c m%anies l k at India& Sl !ly and steadily the luxury car market !hich !as in a(ery nascent c nditi n in India* is n ! c unting n 'ig re(enues fr m the c untry.scust mers& 5f late* there had 'een a stee% increase in the luxury car market& Year "++6rec rded a !h %%ing "#$ gr !th in the luxury car market& It ! uld 'e ne!s f r many f usthat India ranks num'er 7 in ex% rting aut m 'ile c m% nents& The 0erman machines !hichha(e fame all (er the ! rld use c m% nents !hich are im% rted fr m India& 3e! entrantslike V lks!agen are g ing t heat u% the c m%etiti n e(en m re& Currently the fight is in

'et!een -M8 and Merc& 1es%ite 'eing a late entrant in the Market* -M8 has 'eensuccessful in ca%turing a c nsidera'le am unt f market share& -ut* this fight 'et!een 9ustt! c m%anies is n t g ing t stay f r l ng as ne! %layers are entering the Indian market&

6


51/54

C,A2TER 7+ -I-:I50RA2,Y

7+&7 -i'li gra%hy ' ks

7& Marketing management ; 2hili% G tler* Tenth Editi n* 2rentice ,all India

"& Meth d l gy f research in s cial sciences ; 1r& 5&R& Grishnas!ami 1r& M&

Ranganatham* Hirst Editi n* ,imalaya 2u'lishing , use&

/& C nsumer -eha(i rB :e n 0& Schiffman and :eslie :a@ar Ganuk* 3inth Editi n*

2ears n Educati n&

& C nsumer -eha(i rB ,a!kins* -est and C ney* Eighth Editi n* Tata Mc0ra!B,ill&

#& 5(erdri(eB 5ct 'er "+77 editi n %g n * 6?B7++&

)& Aut carB Se%tem'er "+77 editi n %g n 7/?B7 7&

7+&" 8e'sites

1. 0athered inf rmati n related t the gr !th f luxury car segment in India fr m!!!&!iki%edia&c m &

. !!!&'m!&c mQindia &

. !!!&mercedes&c m Q India&

0. !!!&audi&c mQindia &

7+&/ Annexure

A set f


52/54

b) "#B/

c) /#B

!) A' (e ##

4"J Rank the f ll !ing %arameters n y ur %urchase %reference

a) 2rice

b) 4uality

c) A(aila'ility

!) In( l(ement

e) Rec mmendati n

4/J 1 es %urchase f :uxury is car directly related t inc me le(el

a) Yesb) 3

4 J 8hy d es ne %ers n %urchase a :uxury -rand

a) 4uality

b) Hlaunt (aluec) Interested in art!) Exclusi(ity

4#J 8hat


53/54

a) Engine % !er b) Sha%ec) Accelerati n time!) : kse) -rand

4?J 8hat is the %urchasing %attern f luxury cars

a) Yesb) 3

46J 8hat are the s urces f inf rmati n

a) Tele(isi n 'J 3e!s%a%er cJ 2ers nnel s urcesdJ 2r duct dem seJ Sales re%resentati(esfJ Ex%erienced users

47+J 8hat are the general fact rs influencing %urchase decisi n f the cust mers

a) Style 'J C mf rtcJ Mileage!) 2rice C l ur

477J 8hat is the cust mer.s %ini n n style f r %urchasing luxury cars

aJ ,ighly influenced 'J Influencedc) :ess influenced

47"J 8hat are cust mer.s %ini ns a' ut c mf rt f r %urchasing luxury cars

aJ ,ighly influenced 'J InfluencedcJ 3 t influenced

47/J 8hat are cust mer.s %ini ns a' ut %rice f r luxury cars

aJ ,ighly influenced


54/54

'J Influencedc) 3 t influenced

47 J 8hat are cust mer %ini ns a' ut %r duct features f r luxury carsaJ ,ighly influenced

'J InfluencedcJ 3 t influenced

47#J 8hat are cust mer.s %ini ns a' ut techn l gy f r luxury cars

aJ ,ighly influenced 'J InfluencedcJ 3 t influenced

47)J 8hat are cust mer.s %ini ns a' ut 'rand image f r luxury cars

aJ Yes 'J 3

47>J 8hat is the %ur% se f 'uying decisi n f cust mers f r luxury cars

aJ 5fficial 'J 2ers nal

47?J 8hat is the %ini n f cust mers a' ut after sales ser(ice f r luxury cars

a) ,ighly influencedb) Influencedc) 3eutral!) :ess influenced

e) 3 t influenced

Documents

Blackbook Project on Luxury Car Segment