If bajaj wants to enter into global markets what will be the marketing strategies
Answers
Bajaj Auto is on a roll. Its sales numbers are up and about in the domestic market and exports are roaring too. And there’s more to come because Rajiv Bajaj, managing director, Bajaj Auto, has hinted at an aggressive go-to-market strategy designed to accelerate growth in the domestic market.
At the annual general meeting held in Pune on July 20, he announced that the company is eyeing growth of 50 percent in the domestic motorcycle market in H2 FY2019, introduction of the Swedish motorcycle brand Husqvarna (owned by KTM) in India next year (FY2020) and a rollout of electric vehicles including electric two-wheelers before the BS VI emission norms kick in from April 2020.
The company is also expected to make announcements updating on the new ongoing developments under its alliance with the UK’s Triumph Motorcycles in a few weeks from now.
According to some market analysts, the company’s good run in the domestic, as well as the export markets in Q1 FY2019, has provided decent cushion for it to offer substantial discounts on its motorcycle portfolio to boost sales (and its share) in the domestic market.
“Rajiv Bajaj’s statements at the AGM clearly suggest that the company is gearing up to further add more market share in the coming months. They want to aggressively focus on the commuter segment and are willing to grow their market share via new products and new brands, a slew of commercial strategies including new marketing campaigns and product discounts. While the company says it aims to expand the market across the M1 and M3 categories, it can also be understood that Bajaj Auto will pull more market share in the coming months on the back of its pricing strategies. This would obviously put rivals (Hero MotoCorp, Honda, TVS Motor Co) under severe price pressure as the margins on the entry-level motorcycles are very modest,” revealed a market analyst who tracks Bajaj Auto regularly and was present at the company AGM in Pune.