TATA Motors is one of the leading automotive industries in India. It is widely known for the production of cheap affordable cars. For instance, the TATA Nano is an example of the cheapest car in the world. However, TATA also produces some luxury cars such as the Jaguar land rover that is somehow famous (Garg, 2019). For this reason, TATA motors manufacture vehicles to satisfy the needs of its customers. Although the company is well known in some countries, the brand lacks international exposure. This is because the company has a limited marketing strategy and therefore it is not among the famous automotive companies worldwide globally.
One of the marketing objectives to be well known in the automotive industry is to grow awareness for the brand and increase the number of consumers who are loyal to them. By producing good quality products and satisfying the needs of the customers, many consumers will be able to come back the next time they want to purchase a vehicle. Similarly, the customer might also tell other people how the brand produces good vehicles increasing the number of customers who love the TATA brand.
Another objective is expanding to a new market which can be achieved by opening another branch in a new geographic area. This will increase the number of people who know about the brand. The company can also give offers and gifts when someone buys their products. For example, the company can offer the fuelling of a vehicle bought from TATA motors for a year. This will attract many individuals who do not want to miss the limited offers. TATA motors can also offer gifts to people when they purchase their vehicles.
The next objective is the growth of the market share of TATA motors which is currently at 7.07% (Grover, 2020). The comparison of a company to its competitors is done using the market share. Therefore, having a high market share can increase the number of customers who love the brand (Rana, 2019). Another objective is to diversify their products. Manufacturing different types of cars for different groups of people can ensure that most of their customers’ needs are catered for. This will increase the number of people who buy from TATA motors. By diversifying their products, they can target a new group of people which they had never considered before.
Another objective is to widen their range of technologies by staying up-to-date when new technologies are developed. Some people love using products with the latest technologies and keeping up with that may attract many customers (Grover, 2020). By building digital vehicle which has the qualities that people like in vehicles including a good design for the cars can make the people to can help in creating awareness for the brand.
First, the company has to research the best ways to market its products. This can be achieved by knowing their customers and how they can easily reach them. The company can use digital media to advertise their products and offers such as televisions and social media. Also, they can use newspapers and posters since some people read papers but do not watch television. This will enable them to reach many people.
TATA motors can also research the new technologies that many people are using and the ones that are getting many customers in the automotive industry. This can help them in manufacturing if their products to attract more customers. TATA motors can also research the problems that people face in the existing vehicles and innovation of new products to make them better. This can help solve problems experienced by different groups of people. For instance, a married couple would purchase a four-wheel car for the family or a car with a baby seat.
When setting up a new branch in another geographic area, TATA motors have to do a lot of research in places with less competition and where there have high chances of succeeding (Topno, 2019). By choosing a place where raw materials are easily available, the company will be able to cut the costs of production. The company can also choose to widen their market and skills by opening a branch in a developed country like America. This will enable the TATA motors to keep up with the latest technologies while making their brand international. By competing with the most famous automotive industries, the company will be able to upgrade its levels of production in India.
The target markets for TATA motors are families with a low income which want to purchase a car. TATA motors provide affordable cars for such families mostly in developing countries like India and China. The other target is the wealthy people who want luxury cars that are expensive for instance, the Jaguar land rover. TATA motors satisfy the needs of the customers depending on the purpose of the vehicle.
By having good marketing skills and knowing the needs of their consumers, TATA motors can be able to grow both locally and maybe globally. Producing quality up-to-date vehicles and impressing the customers can help maintain their customers. Besides, attracting more customers by innovating new vehicles can bring another group of people who are interested in their products like the youth. Lastly, marketing through social media, televisions, and new papers can also help in reaching many people.
Garg, S. (2019). Internationalization of Tata Motors: Strategic analysis using flowing stream strategy process. International Journal of Global Business and Competitiveness, 14(1), 54-70.
GROVER, P.( 2020)Analysis Of Profitability: A Comparative Study Of Maruti Suzuki, Tata
Motors, Hindustan Motors And Mahindra And Mahindra.
Rana, S. (2019). Financial Analysis of Tata motors and Maruti Suzuki. Research review international journal of multi disciplinary volume, 4, 897-900.
Topno, N. (2019). Globalization Impact on the International Business Development: The Tata Motors Case.
Please take into consideration of the Instructor’s feedback below:
Marketing objectives: increase market share, expanding into other geographic markets, improve quality, increase brand awareness, diversity of product line
Research: social media feedback, technology, current market needs not being met, materials costs
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