Eicher Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of Eicher through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Eicher Product Strategy:
Eicher Motors is one of the leading automotive companies in India. The products from Eicher Motors can be divided into 3 categories according to the subsidiaries of the company.
a. VE Commercial Vehicles: Some of the offering under this segment are Eicher trucks and buses, Volvo Trucks, engineering components. Some of the examples of products are: EICHER PRO 1059, EICHER TERRA 16, Eicher Ambulance, Water tanker, Volvo FMX, Power-train components etc.
b. Royal Enfield: the offering under this segment are CAFÉ RACER (Continental GT bike), Cruiser bike (Thunderbird in both 350 and 500cc), Retro Street bike (Classic Squadron, Classic chrome, Classic 350 and 500). Standard street bikes (Bullet 350 and 500), Royal Enfield Himalayan.
c. Eicher polaris: This joint venture between two companies provides manufactures personal vehicle suitable for family and business. The vehicle are sold under the brand name ‘Multix’. The vehicle offered in this segment are: Multix AX+, Multix MX. This covers the product strategy in the marketing mix of Eicher.
Image: company website
This concludes the product strategy in Eicher marketing mix & strategy.
Eicher Price/Pricing Strategy:
Below is the pricing strategy in Eicher marketing mix strategy:
Eicher Motors Ltd. offers a wide variety of products and therefore the pricing strategy is generally different for each category.
Eicher Motors company follows premium pricing policy for its Royal Enfield brand. The Royal Enfield bikes are targeted to urban population and are priced high due to the style and the comfort that the bike offers. Some of the competitors of these brand are Bajaj, Honda etc but due to the robustness and style factor in Royal Enfield the company charges a premium price. In the commercial vehicle space, the competitors of Eicher motors are Tata motors, Ashok Leyland etc. They follow a competitive pricing strategy tu gain more market share and generally a truck would cost around 12 to 15 lakhs. The Volvo are priced slightly higher due to comfort and style the product offers. About the persona;ized vehicle by Eicher Motors, the company charges premium pricing policy because of the benefits that the product offers both in home and business use.
Eicher Place & Distribution Strategy:
Following is the distribution strategy in the Eicher marketing mix:
Eicher motors Ltd. is an Indian company with a global reach. Eicher Motors has got an extensive distribution strategy in its marketing mix. The famous brand of Eicher Motors ‘Royal Enfield’ is not only sold in India but also exported to more than 50 countries like USA, Japan, Middle East, UK, several European and south Asian countries etc. In India, the company has got a good distribution network with the company owning 12 stores and more than 380 dealers across all big cities in India. The company has got its own individual website from where you can request brochure for getting price details and can also place orders to buy products. Eicher motors also maintain a strong support team to provide best after sale service to its customers. The company also offers franchise to its potential buyers.
Eicher also offers competency development trainings to its dealers to improve their productivity and enhance customer satisfaction.
Eicher Promotion & Advertising Strategy:
The promotional and advertising strategy in the Eicher marketing mix is as follows:
Eicher has a strong promotional campaign and has built a strong brand loyalty among its customers. The Royal Enfield brand is known for organizing various events for bike lovers like Rider Mania which is like the annual gathering of Enfield riders across India, other event is ‘one Ride’ which promotes people to ride their bike on a particular day, organizing trip of different countries like Nepal, Bhutan etc. Eicher motors had also roped in Sushil Kumar as a brand ambassador to promote Eicher Tractors. The company is also active of social networking sites like Facebook, Youtube etc and shares trip stories of its members. Eicher Motors has also undertaken several community initiatives like GOODEARTH EDUCATION FOUNDATION to educate children specially girl child and improve the quality of education in government schools. Other social initiatives are Eicher Schools and donation to DR SHROFF CHARITABLE EYE HOSPITAL for treatment of blindness and deafness. Hence, this covers the Eicher marketing mix.
About Eicher Motors:
Eicher Motors Ltd. is a part of Eicher Group. It is an Indian company which is into manufacturing of automobiles and related components. The company manufactures motorcycles and other commercial and utility vehicles. Eicher Group is known for making India’s first indigenous tractor in the year 1959. Eicher motors Ltd. head office is at Gurgaon, India. Eicher Motors Ltd. was incorporated in the year 1982. The company’s CEO and MD is Siddhartha Lal. Eicher motors Ltd. has got three subsidiaries under it. First is the famous Royal Enfield Motors which manufactures bikes that are considered as a premium product in India. Second subsidiary is the VE Commercial Vehicles Limited (VECV), which was formed by the joint venture between Volvo Group and Eicher Motors in the year 2008 which produces trucks, buses and other related components. The third subsidiary is Eicher Polaris which was formed by the joint venture between Eicher Motors and Polaris Industries Inc.
(of US). Eicher Polaris develops personal utility vehicle and related components.
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