Submission BCS
Prepare A market entry, distribution strategy and brand building plan. Market analysis of electric vehicles.
Submission Date & Time: 2021-10-19 03:57:06
Event Name: NMO S4 Sprint One
Solution Submitted By: Chhavi Sharma
Assignment Taken
Prepare A market entry, distribution strategy and brand building plan. Market analysis of electric vehicles.Case Understanding
proper case layout to understand the new product of electric vehicle in IndiaBCS Solution Summary
The solution to two of the parts are given belowSolution
Market Entry:-
Currently in year 1 we are targeting the production and sales of 625 units with the targeted customer range of 21-45 years in tier 1- tier 2 cities, we will be framing our market entry plan accordingly.
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Direct sales- Through the pre-established sales POC formed.
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Retail Partners- Partnering with the commercial spaces (Restaurants,shop owners, charging station owners) for sales facilitation
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E-commerce partners- Establishing the online sales channel in order to increase reach and induce ease of transaction through safe channels
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Partnering- With current ventures on a commission basis to gain benefit of pre-established players.
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Sales outsourcing
Distribution strategy:-
The product can be distributed and sold through multiple channels. However for initial phases we will be focussing on the following ways-
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Direct sales distribution- Manufacturing and complete assembly would take up at the factory and then would be transported through trucks to Sales POC. The manufacturing and assembly plants would be located on the outskirts of target cities
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Indirect Sales distribution- Main distribution channel will be through indirect distribution where we will be tying up with intermediaries, partners, established market players, local shop owners to increase our customer reach to leverage their networks.
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Dual distribution- it combines direct and selective distribution strategies to grow market influence and also maintain direct sales with customers.
Brand Building strategy:-
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Roll on the product teasers instead of one time launch
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Pre-launch advertising on social media platform
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Offline advertisements through the commercial spaces that we will be partnering with
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Product demonstration in commercial public spaces- such as malls to attract target market and establish presence
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With the help of the marketing research cohort, we will collaborate with existing stores to launch the product
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Extra benefits to the first 10 buyers. Lottery tickets worth 10,000 for next 25 buyers.
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Running a series of buyer testimony
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Popularising the brand name,logo and Mantra through social media tasks and engagements challenges
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Tying up with influencers for social media marketing
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Invite online and offline reviewers for exclusive pre-launch demo events
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Highlighting USPs by giving test-drive Vlogs
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Create online buzz through contests and leverage influence marketing to create more awareness and online presence â—‹
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Use both online (social media, search engine marketing) and offline (television, radio ads) channels for targeted ads to promote the product
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Running referral-discount system for first 50 units.
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Joint marketing
Market Assessment -
India's automobile sector is the world's fifth largest, with plans to become the third largest by 2030. Reliance on traditional modes of fuel-intensive mobility to cater to a large domestic market would not be sustainable. In order to solve this, federal authorities are designing a Shared, Connected, and Electric mobility alternative, with an ambitious goal of achieving 100 percent electrification by 2030.
According to an independent analysis conducted by CEEW Centre for Energy Finance (CEEW-CEF), India's electric vehicle market will be worth US$206 billion by 2030 if the country meets its ambitious 2030 objective. This would necessitate a total investment in car production and charging infrastructure of about US$180 billion.According to another report from the India Energy Storage Alliance (IESA), the Indian EV market will develop at a CAGR of 36% until 2026. During the same time period, the EV battery market is expected to develop at a CAGR of 30%.
Following is the analysis of External factors that might affect the Electric vehicle market in India;-
â— Political:â—‹ Under NEMMP 2020, the FAME scheme had been launched
â—‹ The government has slashed tax rates and increased subsidy under FAME phase II by 50% in Jun’21â—‹ 13 states have notified EV policies: purchase incentive, old 2-wheeler scrap incentive, allowed insurance companies to give 5 years battery warranty
â—‹ 100% FDI in automobile sector through automatic route
â—‹ The government is dedicated to achieving the emission reduction target
â— Economical:â—‹ The upfront cost of EVs are coming down by 50% to 65% and bringing them at par with internal combustion engine vehicles
â—‹ Rising fuel prices
â—‹ The expected increase in disposable income post COVID-19
â— Social:
â—‹ Status symbol
â—‹ People looking to jump on a new trend
â— Technological:â—‹ New technological interventions such as detachable lithium-ion are driving uptake
â—‹ High-quality components available with credible suppliers
â—‹ Availability of skillful labor
â—‹ The government focused on making India the manufacturing hub of EVs
â—‹ Setting up of Public Charging Stations ("PCS") shall be a de-licensed activity
â— Environmental:
â—‹ Strong focus on cutting down carbon emission
â—‹ Sustainable supply chain
â—‹ Reduce dependency on crude oil and its consumption
â— Legal:
â— Only 18+ will be allowed to use the scooter even though it's easily operable by teens less than 18 years old
â— Stringent laws in the automobile sector concern safety and security of the passengers, environmental laws, patents, and labor laws in manufacturing plants.
Conclusion
the solution is given aboveAttached File Details
Comments
Article Type: Business Case Scenario, Case Study Solution Submission
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