A Marketing Analysis of Auto Industry in India - MBA Marketing

 A Marketing Analysis of Auto Industry in India - MBA Marketing


Abstract

Auto industry is one of the world's largest markets. Automobiles have become a necessity for everyone in today's society. India's automobile industry has enormous potential, but it is currently experiencing a major slowdown. We'll explore the reasons for the slowdown in the automotive industry in this paper. Analysis of the changing automotive industry and how it affects consumer purchasing behavior is provided. Various automobile companies in India are analyzed in terms of sales. Automobile companies should adopt new trends in order to capture the market and increase sales in the future.

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Introduction

Leonardo da Vinci's "Self-Propelled Car" was first designed in 1478, and today, no one can imagine a world without it. The history of the automobile reveals the changes it brought to the world. It is Asia's 7th largest passenger vehicle market and the world's tenth largest by volume. According to SIAM, passenger vehicles accounted for 15.07 percent of the domestic market in 2011-12. Cars were not invented in a day or by just one person. 

A global achievement can be seen in the automobile's past. In addition to household purchases, automobiles are the second most popular optional purchase made by a consumer, and the automobile industry's prosperity is closely tied to the economy's overall growth, not to disposable incomes and consumer confidence. Because there was no automobile manufacturer in India 80 years ago, the Indian Automobile Market was nothing. In India, there were a few imported vehicles. An automobile industry was established in India after independence.

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Conclusion

The above study shows that vehicle demand is also influenced by factors such as convenience and financing costs, vehicle density, market demographics, and earning potential. As a result, there is a huge market for automobiles that has yet to be tapped through technological advancements. Clearly, a slowdown presents marketers with an opportunity for new developments. When they conduct research, they have the potential to come up with new ideas. Automobile companies will have to design vehicles that will entice customers to purchase them. Consequently, companies should view the slowdown period as an opportunity to innovate. Customer satisfaction and sales growth may result as a result.

For More Details About  A Marketing Analysis of Auto Industry in India - MBA Marketing
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