Mahindra
Group acquired 70% share of SsangYong Motor in 2011 to as a vision to
fill its premium product portfolio. Now Mahindra is having full range of
SUV products from Low Budget to Mid high and premium segment.
SsangYong, will help to establish Mahindra group in overseas markets,
with SsangYong’s existing network and product awareness. It also give
way to enter into mid high and premium segment of Indian SUV market. New
Product of Tata-Land Rover will position exactly as same as SsangYong
product range.
ACG has been doing continue research even before SsangYong became a part of the Mahindra Group. This product is having excellent features, Reliability, Superior Quality, Comfort and safety features along with sound technology. The overall company performance have improved. In almost all markets they have shown impressive sales growth. Financial results have also improved.
Mahindra
is known for its aggressive marketing but for SsangYong it is lagging
for in brand awareness. Currently there is only one product - Rexton in
the market. To be more competitive and better ROI of its promotional
investment, Mahindra need to launch few more model.
Word
of mouth is a very effective brand communication but due to “SsangYong”
name, it is difficult to pronounce correctly. Mahindra need to Re-think
about it. In our survey we have covered even high qualified, Business
man, Sports people etc. but most of them are having difficulty to
pronounce this name correctly. It is having several long term negative
impact on its overall performance.
As
per our study, Rexton is an excellent product which would be game
changer in this segment. But in Brand awareness it is not well known in
the market. People are having some doubts on its spare and maintenance
cost and re sale value. They are having full confidence on wide Mahindra
Network support.
Competitor Product Position
Rexton’s
price position is very impressive and is a product having good value
for money. The brand need to shift from C to D-B position.
Its competitive product position is also appropriate compared to peer group products.
Still it needs to give good promotion to make it brand recall in a short span of time.
Overview of SsangYong:
Product Portfolio and Market Trend
It looks like a win-win situation of Mahindra and SsangYong but there are several challenges ahead for the Mahindra Group.
Global Product Portfolio of SsangYong:
Growth Markets for SsangYong
SsangYong
had been performing well in China and South Africa where they had
achieved consistent year on year growths and at the same time Argentina
and Eastern Europe has been encouraging.
Among
the above China could be SsangYong's strategically important market
considering the size and acceptance in the market. Russia the other
potential market on the cards has been sluggish due to political
troubles. Brazil's economy is set for revival would be another positive
market for the Brand's success in the coming years.
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Source: Autobei
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