marketing final for turnitin

8/7/2019 Marketing Final for turnitin

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THE FACULTY OF BUSINESS AND MANAGEMENT

MSc Business & Management

Module:Customers & Markets

Code: MBUBD4CMA

Name: Janak Vadgama

Tutors Name: Connie Nolan

Assessment Type/No: Assessment 2: Report

First Submission/

Resubmission (circle

As appropriate)

First Submission

Submission Date: 10th

January 2011

Word Count: 2530 (excluding abstracts, appendices,

direct quotes, bibliography, diagrams and illustrations)

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Policy is designed to help you in understanding what plagiarism is and how to avoid it inyour work. To this end, please read your programme handbook carefully.

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2010

Janak Vadgama

[TATA NANO: MARKETING

AUDIT REPORT 2010]


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CONTENTS

Executive summary

I. IntroductionA. Tata MotorsB. Tata Nano

II. STP of the Tata Nano in IndiaIII. Timeline: Life span of the NanoIV. Internal and external environmental analysisV. Brand ManagementVI. Recommendations to the Board

A. Improvements in marketing strategyB. Related DiversificationC. Market information network and customer relationshipD. Use of econometric tools Balanced Scorecard

VII. Conclusion

Appendices

Appendix I : Environmental factors relative to the Tata Nano

Appendix II: Environmental Analysis: Aspects directly affecting the Nano

Appendix III: Perceptual mapping

Appendix IV: Suggested MKIS System diagram

Appendix V: Balanced Scorecard

Reference List


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Tata Nano: Marketing Audit Report 2010

Executive Summary

This marketing audit report is prepared on the marketing activities of the Tata Nano from

April 2009 until December 2010 covering the entire on road period since the launch of the

car. The report is prepared on the request of the Board for recommendations to identify

reasons relating to the poor sales performance compared to the targeted expectations.

Although the Tata Nano survived the worst of the recession with steady sales and planned

marketing strategies, there has been a decline in sales recently. This has been due to negative

publicity due to safety issues and rising manufacturing costs resulting higher sales costs.

Although, the marketing for the car remains strong, this report looks at the key challenges

faced by the Tata Nano.

The report requests a number of recommendations for the Board to consider in improving the

Tata Nano marketing strategy.


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I. INTRODUCTION

A. Tata MotorsTata Motors Limited is India's largest automobile company, with consolidated revenues of

Rs. 925.2 billion in 2009-10. It is the leader in commercial vehicles in each segment, and

among the top three in passenger vehicles. Jaguar Land Rover, a business comprising the

two iconic British brands was acquired in 2008. (Tata Motors, 2011a)

B. Tata Nano

Dubbed as The Peoples Car, Nano was unveiled to the world in January 2008 and

launched in April 2009. The Nano broke new grounds in terms of cost leadership in the mini

hatchback segment.

Uniqueness is synonymous with the brands on all levels. The Nano was developed with a

dual positioning - it was positioned as an affordable and safe upgrade to four-wheelers for

existing two-wheeler customers and also as the lowest price small hatchback car in the mini

car segment to the cost conscious middle-class family (socio-economic demographic relative

to India) consumers.

II. STP of the Tata Nano in India

The Nano was conceived by Mr. Ratan Tata chairman of the TATA Group, who summed

up the market segmentation, product positioning and market segment in his historical

inauguration speech (Nano Diaries, 2008) as A safe, affordable, all weather form of

transport built to meet all safety standards, designed to meet or exceed emission norms and be

low in pollution and high in fuel efficiency, affordable for families where the father is driving

a scooter, his young kid standing in front of him, his wife sitting behind him holding a baby.

A vehicle that could be affordable and low cost enough to be within everyone's reach,


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III. Timeline: Life span of the Nano

The Nano was unveiled in 2008 amidst an unmatched global hype which was a classic case of

viral marketing as defined by E-Commerce consultant Dr. Ralph Wilson (2005) both on and

off the internet. It was launched in the Indian market on the 23rd March 2009 (BBC News,

2009).

Due to constraints in manufacturing capacity, bookings for the first 203,000 units were

started in limited window, from 11th

April 2009 to 26th

April. The first 100,000 buyers

selected by a lottery system were promised to be delivered by the end of 2009 and the

remaining 103,000 vehicles were to be delivered as soon as possible in 2010. A unique sales

strategy to avoid cancellations of bookings amidst the global effects of recession, by

providing interest on the deposits to the second lot of buyers proved extremely fruitful for

Tata Motors. The company raised almost Rs. 25 billion in advances (FT Lex,, 2009).

After the initial surge of bookings, Nano recorded a poor sales growth through 2010 as

compared to the sales target of 20,000 units a months. Changes in macro environmental

factors, inherent shortcomings in the brand positioning, technical defects and unforeseen

market trends caused the popularity of the Tata Nano to decline in the Indian market. This

fact is justified by the sales figure of 46,760 units sold in 2010 (Financial Times, 2011)

totalling the sales figure to around 71,000. According to the Society of Indian Automobile

manufacturers (SIAM, 2011), 12,292,770 new vehicles were sold in 2009-10 out of which

9,371,231 (76.23%) were two wheelers and 1,949,776 (15.86%) were passenger vehicles i.e.

only twelve Nanos out of five hundred cars sold.

The initial loss of momentum in the first year of the life cycle, has forced Tata Motors to

advance its brand management and marketing strategies to keep up with the first movers

advantage and gain market share in the growing small-car market of India and secure a

sustainable future to their dream project.

This report focuses on the macro environmental factors, current trends and internal

environment analysis to identify the on-ground challenges faced by Nano in the Indian

market.


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IV. Internal and external environment analysis

To gain a better understanding on the macro environmental factor affecting the Tata Nano in

the Indian market, PESTLE analysis, Porters five forces model and SWOT analysis have

been used. As a result of this analysis, the key competitors and key challenges for the Nano

have been identified, as per below. The full analysis is produced in Appendix II.

V. Brand management

Mzungu et al. (2010), demonstrate that brand is one of the most important intangible assets

of the organisation and Brand Management involves safeguarding of its value or equity.

Aaker (2010) suggests that Management of brand equity involves investment to create and

enhance the assets of brand equity. He further defines five categories of brand equity assets,

which create value in a variety of very different ways and suggests that it is important to be

sensitive to the ways in which strong brands create value in order to manage brand equity

effectively.

The brand management of the Tata Nano can be examined using the following five categories

of assets identified by Aaker (2010), which define its brand equity:

a. Brand Awareness how strong is the brands presence in the consumers mind?

The word Nano started to gain importance in all fields of science and development with the

idea of Nanotechnology. A common person associates the word to something that is very

small and relatively advanced. Mr. Ratan Tata quoted in his speech during the unveiling of

the car speech, We decided we'd call it Nano because it connotes high technology and small

size. So we stayed with the name (Nano Diaries, 2008). The global discussions of the

Worlds cheapest car are evident in the volume of media coverage received by the viral hype

created by a singular idea of the Worlds Cheapest Car. A source of negative publicity, that

could have been nipped in the bud if sufficient care was taken by the brand management

team. A Google search for the Worlds Cheapest Car retrieves 393,000 results relating to the

Nano. This analogy though gross in nature indicates the nature of the top of mind recall of

potential consumers. For over a year no significant efforts were taken to introduce the Pride

of owning a Nano to a consumer for whom a car is a luxury and an achievement.


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b. Perceived Quality and Brand Loyalty

In India, the middle income group is suggested to be rising. Successful, young, middle

income group consumers in India relate the ownership of a car more as a status symbol than a

mode of transport. In an article published by the Financial times, Fontanella-Khan (2010)

quotes, a marketing manager at Indian engineering group Larsen & Toubro who earns

Rs.80,000 a month and has recently acquired a small car a Skoda Fabia, who said that he

would never buy a Nano as his main car. On your first car you want something special, with

upmarket features ... something that makes the car stand out.

The incident of a newly purchased Tata Nano which burst out into flames received national

coverage (Mid-day, 2010). Low sales performance coupled with bad publicity also caused

degradation of perceived quality and negatively affected brand loyalty.

c. Brand Associations and Brand Assets

The Tata Nano is a brand owned by the Tata Sons Group. The parent company employs a

full-fledged team responsible for brand building and safeguarding the values it stands for

(Gopalkrishnan, 2007). Tata Sons is a household name in India and is ranked 57 in the Brand

Finance Top 500 Global Brands in 2008 (Arathoon, 2008)

d. Perceptual Mapping

Based on the purchase behaviour of the target market of Nano an indicative list of attributes

under cost and quality is shown in Appendix III. The attribute based perceptual maps

adopted from (Lamblin et al., 2007) indicate how the current positioning may have affected

the perception of the target market. The perceptual maps also give a reasonable justification

to the statement, Indias Peoples Car is both too expensive and not expensive enough. As

quoted by the Financial Times (2011).


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VI. Recommendations to the Board

A. Improvements in Marketing StrategyThe marketing team concludes that Tata Nano needs to re-strategise the marketing functions

by identifying focused target markets and positioning the Nano in a growth driving segment

as opposed to the present mass marketing strategy. The marketing team suggests a strategy

option which is presented for the review of the Board based on the challenges faced by Nano.

An in-depth feasibility study would be sanctioned on approval.

i. Market Development Maintain the cost differentiation and maximise firstmover advantage

The target market as defined earlier does not support the sales targets. A micro

segmentation of the whole market based on demographics is required to identify

potential for development. Feasible geographic division of the identified markets

based on accessibility of existing dealer network will assist in market penetration.

ii. Related Diversification

Going back to the basic question of Which part of the target pool buys the most

new cars? Answering it simply People who learn to drive

Diversifying into a peripheral service of institutionalising brand owned driving

assistance fact on a national level has the potential to ensure higher brand recall

and association within the target pool. A scaled up model has the potential to

develop of the car market. The marketing team suggests the Board to look into

this option. Diversification can be attained through partnering with existing

driving schools or by starting a new subsidiary which can offer franchising

opportunities to entrepreneurs. Maximising market reach will provide a potential

customer base which can be further developed by first-hand experience of the car.

This is a long term strategy which can be formulated to ensure a newer, more

proactive brand image rather than a failed promise over a period of time. This

model can be replicated on a national level based on its performance in the chosen

test market. With analogy to the BCG growth share matrix (Lamblin et al. 2010),


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the Nano is a Dog in the companys portfolio that has the potential to be a

Star. New competition can also result in emergent strategies in the future but

establishing a firm base will provide first mover advantage which can be exploited

in the future.

iii. Marketing information network and customer relationship management

Tata Motors has an Internal marketing information system that is currently based

on the mass-market. Internal data systems combined with data collected from

dealerships helps identifying the key characteristics of actual and potential

customers. Market development strategy for Nano requires a more specialized

approach and a separate customer relationship management structure based on the

nature of the newly identified target groups. It is essential to understand the needs

of the consumer and adapt marketing methods based on their feasibility. A

graphical representation of the suggested system as a parallel to the existing MKIS

is shown in Appendix III. This MKIS system would reduce reaction times to

changes in the environment and align decisions with the brand management team

to form sustainable emergent strategies.

B.

Use of a suitable econometric tool

Nano is in its second year of its lifecycle has no critical inherent flaws. Successful

implementation of the market development strategy can ensure a profitable lifecycle for the

car and its future variants. Along with efficient implementation, it is essential for the

managers to be able to evaluate the effects of the decisions at all levels of the strategy both

organisational and financial. Some econometric evaluation is required to reassure

stakeholders of the company that the core vision and objectives are being pursued.

To avoid any further setbacks, it is essential that all levels of the organisation understand the

long term strategy and implement it collectively to ensure that departmental and individual

objectives are aligned with that of the company.


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i. The Balanced Scorecard (Kaplan and Norton, 2009)Kaplan and Norton (2007), suggest the use of the Balanced Scorecard to translate vision

and strategy of a company in a manner that all departments and individuals can be aligned in

line with the objectives of the company. Appendix V(a) a gives the four perspectives required

for using the balanced scorecard in relations with the vision of Tata Motors. The marketing

team suggests that along with the Board, the brand team, experienced personnel from

Manufacturing, sales and the distributor network should be actively involved in the

translating the strategy and vision into the key perspectives mentioned in the diagram.

Appendix V (b) represents the constituents of the Balanced Scorecard that form the on-

ground translation of the strategy implementation process. This process is cyclic in nature and

will provide a clear set of goals required for identifying key roles of all individuals involved

in the process of strategy implementation and reacting quickly to the emergent strategies,

throughout the lifecycle of the Tata Nano as shown in Appendix IV (c).


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Conclusions

The main conclusions from this audit are:

y The mis-representation of the most affordable car to the cheapest car has meantthat some of the Indian domestic markets do not want to be associated with it. Tata

Motors did not do enough to set this image right in the early stages of promotion and

this has damaged sales, despite its high value branding.

y Tata has invested heavily in international markets in other products and high cost carsi.e. Jaguar, but delayed the launch of the car in international markets, despite

worldwide interest in the product. This may have resulted in waning of interest and

other manufacturers, time to catch up with Tata and pose real threat.

y

Negative national and world wide media attention on the cars safety when the cars

caught fire further damaged the brand.

y Although Tatas marketing strategy helped keep customers during the worst of therecession, rising costs have meant that the car is now more expensive to buy, resulting

in a loss of sales.

y The original market was the Indian middle class two wheeler users, but the companynow needs to diversify and consider other markets as proposed by the marketing team.

y Indias roads 11infrastructure remains a major issue, however, the car has provedperfect in road tests for in-town driving in UK and Europe and Tata Nano needs to

capitalise on that.

y Smaller electric cars are also a direct threat to the Nano

The Appendixes provide in-depth information on the analysis used in this report.

The recommendations of the board would be actioned immediately

________________


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Appendix I : Environmental factors relative to the Tata Nano

A. PESTLE Analysis

Political

- Government Farm loan waiver- Inconsistent Infrastructure development- Consistent growth and political stability in Gujarat

Economic

- Rapid economic growth around 9% (Bajaj, 2010)- Unequal economic growth:- High industrial growth (Tata Motors, 2011 c)- Stable inflation forecasted for 2010-2011- Increase in prices of basic commodities

Social

- Changing perception of middle class demographic segment- Wide margin between middle and lower income groups- Move toward status symbols (Bajaj, 2010)

Technological

- Increased awareness on safety measures- Higher investment in fuel efficient technologies

Environmental

- Predictable weather pattern and seasonal monsoons- Good monsoon in 2010 favouring increase in GDP (Tata Motors, 2011 c)- Increasing carbon footprint and pressures from developed nations


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B. SWOTStrengths

- Brand Image of TATA Motors- First Mover advantage- High brand recall- High quality standards lower rate of breakdowns- Test drives offered in smaller outlets in smaller cities. (Bajaj, 2010)

Weaknesses

- Safety concerns with relation to car fires (Fonentella-Khan, 2010)- Failure to attract target segment Too expensive and yet not expensive enough (

Financial Times, 2011)

- Cheap Car Image- Competition with motorcycles- Production setback due to West Bengal land acquisition issue (Pilling, 2010)- Running costs more than 2-wheelers ( Financial Times, 2011)- Increase in base price (Tata Motors, 2011b)- Many consumers in the target group do not have the access or means to learn how to

drive a car or obtain a four wheeler license. Situations of more basic issues like

parking (i.e. where 4-6 people of a family like in a 1 room house, where will they

park their cars safely)

Opportunities

- Appointment of Forester as Chief executive of Tata motors- Dedicated manufacturing plant in Gujarat- Vendor Park for suppliers of components to Nano in the manufacturing plant premises

(Leahy, 2010)

- Capacity constraints faced by Maruti Suzuki The market segment leader- Passenger car market forecasted to grow around 12.36% in 2011 (SIAM, 2010)- Long waiting periods for competition (Bhattacharya, 2010)


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Threats

- Infrastructural progress Suitable to 2 wheelers- New market entrants like VW, Ford, GM Nissan in mini car segment (Doval, 2010)- Maruti to boost manufacturing capacity over three years (Bhattacharya, 2010)


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C. Porters 5 ForcesA competitive forces framework helps create the starting point of strategic analysis of the

mini car segment in the Indian new cars market

1. Threat of Entry:a. Tata motors has successfully places a cap on the small car, low cost segment

with the Nano priced lower than 2,00,000 which is the lowest in the world

increasing the barriers of entry into this market

b. Setup of the new manufacturing plant dedicated to the Nano is ready andoperations giving first mover advantage in the market

c. Business model can be adapted to changing environment faster than newentrants lowering the threat of entry

d. Tata motors is the largest automobile manufacturer in India and has a verystrong supply and distribution network at its disposal

e. Parental backing of the Tata Group ensures sufficient support in case ofretaliation

f. The Nano is highly differentiated based on cost which gives it a better edge inbeing competitive

2. Threat of substitutes:a. This is one of the single most challenging threat to Nano as it is competing in

between two major market segments Motorcycle and Automobile.

b. Public transport used car industry also pose a big threat to Nanoc. Even though the Nano costs twice that of a medium end motorcycle, the

maintenance costs are almost four times making it an unviable option.

3. Power of buyersa. With the availability of funds and loans, switching costs in the mini segment

are relatively low but buyers have the option to invest in a motorcycle instead

of a car

4. Power of suppliersa. In the manufacturing industry, power of suppliers is relatively high but where

a consolidated business of manufacturing and selling is concerned it

diminishes exponentially


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5. Competitive rivalrya. Due to the nature of the positioning of the Nano, Competitive rivalry increases

two-fold as compared to its nearest competitors on either side

b. Exit barriers are very high as the corporate image of the whole Tata group canbe affected along with a high cost factor attached to exit


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Appendix II: Environmental Analysis: Aspects directly affecting the Nano

Concept Appendix Key Analysis

PESTLE

(Factors

affecting the

Nano)

I a

1. Infrastructure development (roadways) in India isinconsistent and slow. Bad roads and high fuel prices may

lead to consumers buying motorcycles instead of cheap

cars.

2. Target segment is divided across a large span of microsegments as defined by Brassington and Pettitt (2005)

whose requirements have not been met in the macro-

segmentation strategy.

3. Positive economic development and growth of the sectoris forecasted for the Indian market, and shows limited

scope for experiment.

4. Technological and Environmental development isexpected to be rapid and the Nano would need to be

adaptable to change within resource threshold limits.

Five Forces I b

1. The adopted positioning of the Nano as a peoples car ispositioned hazardously between two distinct product

groups i.e. motorcycles and mini cars.

2. Stiff competition from market leaders in both segments ofthe market along with substitutes like public transport.

3. Undifferentiated approach towards targeting, as definedby Brassington and Pettitt (2005).

4. Inherent strength to repair damage due to corporatebacking financial, marketing expertise and

manufacturing capacity of the TATA group as a edge over

competition.


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SWOT

AnalysisI c

1. Brand communication worldwide of an affordable familycar has been completely misinterpreted as a cheap car.

2. Due to increase in commodity costs, actual price of thebasic version is not what was promised Rs. 100,000

(1300) but a minimum 35% more causing loss in brand

loyalty.

3. Tarnished brand image with regards to quality, due toreported incidents of fire in over 5 cars.

4. Competition with two-wheelers where end costs toconsumer taxes, maintenance costs, switching costs,

parking and storage are not comparable to that of a car.

5. Negligence of basic problems of the ideal customer need for a car, pride of owning a car, liabilities post

purchase.

6. The Nano is too cheap and too expensive at the sametime due to the large gap between the higher middle

income and lower middle groups.

7. Marketing action to maximise opportunities is tepid.8. Red sea strategy of competition as defined by Johnson et

al. (2008).

9. Key strategic areas for marketing not accurately defined tomaximise first mover advantage.


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Appendi erceptual apping

Mi l i group Cost and Qualit Attri ut s can be gi en based on t e purchase

behaviour as:

Sr. Qualit Attributes Cost Attributes

1 How safe is the vehicle to drive ? How much does the vehicle cost?

2 Does the itimprove my socialimage? Am I getting value forthe money I am

paying?

3 Does this car provide what I need? What are the maintenance costs?

4 Is it fuel efficient? What are my liabilities ifit gets damaged?

5 Does it have a resale value?

6 Do I trustthe brand ?

7 Whatis the life ofthe vehicle?

III a. PerceptualMap of Tata Nano as compared to Cars in the same segment

High

L

Tata Nano

Maruti 800

Hyundai Santro

Ford


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III b. PerceptualMap of Tata Nano as compared to Motorcycles in the same segment

Hero Honda

Bajaj

High

Low

Tata Nano

Yamaha


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Appendi IV: Suggested MKIS System diagram

Adapted from Kotler (2003)


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Appendi V: Balanced Scorecard Kaplan Norton, D. (2007)

A. Translating Vision and Strategies


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B. Managing Strategy


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C. Indi idual Scorecards


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