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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