Bajaj Auto Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of Bajaj Auto through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Bajaj Auto Product Strategy:
Bajaj Auto is a leading two wheeler manufacturer from India. Bajaj Auto produces a variety of two and three wheelers for India and international markets. Around 35% of its sales are accounted to exports. And 47% of these are made to Africa. Boxer is the largest selling model in Africa. Bajaj Auto’s line of scooters included Bajaj sapphire, Bajaj Wave dtsi, Bajaj Kristal dtsi. Motorcycles include CT 100, Bajaj Pulsar, Bajaj Dominar, Bajaj Avenger, Bajaj Discover, Bajaj Platina, Ninja and the Bajaj V. All these products form the product strategy for Bajaj Auto in two wheelers. For intra urban commutes Bajaj Auto also showcased the Re60 which was based on an auto rickshaw. The soon to be launched Bajaj Auto cute, a very small car for local movement within cities along with the locally produced KTM line up including Rc 390, Rc 200, Duke 200 and Duke 390 complete its product line up for India.
Image: company website
This concludes the product strategy in Bajaj Auto marketing mix & strategy.
Bajaj Auto Price/Pricing Strategy:
Below is the pricing strategy in Bajaj Auto marketing mix strategy:
Bajaj Auto has got an extremely competitive pricing strategy in its marketing mix. Key to capturing of market share and ensuring brand loyalty is the right pricing of products.
Bajaj Auto as an automotive giant in India is armed to the tooth with this knowledge and realizes that low cost of purchase as well as overall low cost of ownership are key elements to the above philosophy. Bajaj Auto also ensures that service costs of all its two wheelers are low and affordable. Pricing of essential spares such as disk brake pads, drum shoes, fork oil, air filter, headlight and taillight assembly as well as consumables such as engine oil and air filter are priced very competitively.
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Bajaj Auto Place & Distribution Strategy:
Following is the distribution strategy in the Bajaj Auto marketing mix:
Bajaj Auto has a strong presence spread across India, with its dealerships and manufacturing plants. With several manufacturing plants based in Pune, Chakan, Waluj, Pantnagar and Mumbai Bajaj Auto has a production capacity of more than 4 million two wheelers. Its “ahead’, the oldest plant is now the R and D centre for future product development and in-house technological research. With operations in more than 50 countries Bajaj Auto has truly made its presence felt when it comes to distribution, sale and service of two wheelers. In the financial year 2012-2013, it sold close to 3.76 million two wheelers of which approximately 33% were exported. Locally too Bajaj Auto leads the way with the manufacture and sale of three wheelers. Bajaj two wheelers are known for their low cost of ownership and low spare parts cost as well as easy availability of spares.
With very efficient penetration of spare part dealers even in rural areas, Bajaj Auto caters to the demands of customers located in even the remotest of places in the country.
Bajaj Auto Promotion & Advertising Strategy:
The promotional and advertising strategy in the Bajaj Auto marketing mix is as follows:
Bajaj Auto realized the need to reach out to target audiences through the correct use of promotional activities and advertising campaigns. Bajaj Auto uses print, TV, online, billboards etc as a part of its promotion strategy. Utilizing the changing customer preferences as a clue for not just new product development s but also newer ways of promotions Bajaj Auto constantly revises its promotional strategies. Moving on from the definitely male to the distinctly ahead taglines Bajaj Auto has come a long way when it comes to promotions. For the Bajaj V, patriotism as a tool was utilized to pull the heart strings of nationalistic Indians. Since it is made out of the metal of the now defunct and decommissioned naval warship, INS Vikrant, Bajaj V garnered a lot of positive response from not just the target buyers but also advertising critics. Currently the hotly advertised ‘free the cute’ campaign on social media networks is making headlines as it is being seen as the cheapest, most efficient ultimate mobility solution for urban transportation needs. Hence, this covers the marketing mix of Bajaj Auto.
About Bajaj Auto:
Founded by Jamnalal Bajaj in 1940 in Rajasthan, Bajaj Auto is wholly owned by the Bajaj Group. Bajaj Auto is a two and three wheeler manufacturer in India. In terms of volumes, it is the 6th largest in the world while being the 2nd largest in India. With Rs 640 billion worth of market capitalization it is the 23rd largest (publicly traded) company in India (by market value). At 1416 rank by Forbes Global 2000 list. Bajaj Auto is also the world’s largest three wheeler manufacturer.
Bajaj Auto started it operations by importing 2 and 3 wheelers in India and in 1960 became a public limited company. Its first plant was in Aurangabad and by 1986 it had produced its 10 millionth two wheeler.
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