Maruti Suzuki Marketing Mix: Maruti Suzuki is an affiliated company of the Japanese manufacturing company called Suzuki. The Public Ltd Company, also called Maruti, has a stake in the production of Automobiles. It was established in 1981 and is headquartered in New Delhi. In 2012, February was the month when the 10 millionth automobile of the company was sold in India.
Marketing Mix Of Maruti Suzuki
Marketing Mix Of Maruti Suzuki is brand-based. In Marketing Mix Of Maruti Suzuki, We will Learn About the four key elements of Marketing Mix: products, place, price, and Promotions. By paying attention to the following four components of the marketing mix, a business can maximize its chances of a product being recognized and bought by customers. We will be discussing Maruti Suzuki Marketing Mix. Below is the detailed Marketing Mix Of Maruti Suzuki.
Let’s talk about Maruti Suzuki Marketing Mix.
Maruti Suzuki Main Competitors
- Tata Motors
- Ford motors
Maruti Suzuki’s official website: www.marutisuzuki.com
Product in the Maruti Suzuki Marketing Mix:
Maruti Suzuki occupies 37% part of the Indian market of passenger vehicles. It produces various kinds of cars and offers its products on the market. Its diverse cars include:
- Grand Vitara
One of the main characteristics of the products from Maruti Suzuki is that these products are designed with the everyday person in mind. They are neither expensive nor come with characteristics that make them expensive. But, they are renowned for their longevity and reliability, their service, the ability to pick up, the car’s design, and the majority of things expected from an actual vehicle.
The third product of the Maruti firm is its service. Apart from its effects, Maruti can also provide services such as an on-road service via its vehicle, which operates all the time. Maruti also has an in-house call center to assist its employees and customers. Information centers for customers are now open in cities such as Bangalore, Hyderabad, and Chennai.
Another product offered by the company includes annual service contracts and service centers, which provide services for Maruti automobiles. Maruti Service centers are available all over the nation and have the most significant number of locations for service in India. This is a substantial factor in decision-making, even if you’re not in an urban area.
Place in the Maruti Suzuki Marketing Mix:
In the beginning, in the front, the company Maruti brought all its vehicles from India. This led to discontent among local car makers. In 1983, Maruti 800 was released in the Indian market, and local production was launched in December 1983. The factory located in Gurgaon was able to increase its capacity up to forty thousand units. 1987 saw Maruti ship its first shipment of almost five hundred vehicles to Hungary. In 1995, Maruti launched its second manufacturing facility that could produce 200 000 units per year.
In 1988 in 1988, the production capacity at the Gurgaon plant was expanded to 100,000 units annually. The Gurgaon plant has three integrated manufacturing plants and makes 900,000 vehicles annually. The plant also houses 150 robots. The cars manufactured by the plant are Eeco, Gypsy, Omni, Estilo, WagonR, Alto, and 800. Between 2004 and 2005, Maruti had contracts for export with more than fifty countries across the globe. In the year 2006, Maruti, as well as Suzuki, decided to build two factories to manufacture products.
The plant for manufacturing located in Manesar was established in 2007. The initial capacity was only 100,000 vehicles, which grew to 550,000 units. In March 2014, Maruti Suzuki offered dealerships to more than nine hundred thirty-three dealerships in India and six hundred and sixty-six towns and cities in the country. It operates 3000 and 13 service centers under the name of the company, which extends to more than thousand four hundred and thirty-six cities and diverse towns. Maruti also offers thirty stations for express services on thirty major highways in different cities across India.
Price in the Marketing Mix Of Maruti Suzuki:
It is possible to describe Maruti’s price policy used by Maruti as penetrative and competitive. Maruti Suzuki has a pricing policy that is based on a number of variables. It provides a fair market assessment by analyzing the most important aspect, what amount a buyer can pay for an automobile and his requirements. Researchers from the company analyze the present market trends, market competition, the price of the raw material, economic aspects that govern the market, distribution costs, advertising costs, dealers’ profits, and the business’s profits.
Since pricing is a highly personal and delicate subject, extra care must be taken to ensure that the pricing policy remains reasonable. Maruti has always emphasized quantity more than prices, which is why they continue to be successful. Despite the increasing costs, the service department is an essential source of revenue for Maruti Suzuki. The various service centers are run based on franchisees and have become revenue generators for Maruti Suzuki.
Promotions in the Maruti Suzuki Marketing Mix:
A key element Maruti does to market its product is to utilize all kinds of advertising when launching a fresh product or a variant. Its branding and the promise of service of the company do all the rest. The brand has developed over time, and consumers have come to know that the Maruti Suzuki product will be authentic. The most well-known advertising method is via advertising through the ATL and mostly television, then newspapers printed, outdoor, and print get the lead.
Maruti utilizes a distinctive marketing method to sell its products. The primary focus is on safety measures for drivers. Advertisements are broadcast on visual and print media, including newspapers, radio, television magazines, road show seminars, and workshops. The well-known actor R Madhavan has acted in advertising campaigns for the company and is the company’s spokesperson for its brand. Maruti Suzuki’s marketing method for Maruti Suzuki has been distinctive and instructive. They have continued to touch consumers’ hearts by offering products, services, and even promotional activities it has undertaken.
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