Business is an accumulation of concept, ideas, the perception of different people to form a unique trade. ACG Decoding the success factors in the Indian market. Each business venture or concept will vary from brand to brand. Each and every business trade is unique in its own way designed and based on its own structured plans and strategies. There are some universal lessons that are applicable to just about all kinds of business ventures these common factors can be seen in most of the business trades. Normally companies which are in the developing/entry level stage try to learn and grasp ideas from the successful business brand case study. If the developing or new brand can accumulate data and learn from those companies who have already done big mistakes in the market and have already paid a high price for their mistake, it could be a smart and easy method for the upcoming brands to strategize ideas and plans for brand development. This method of learning lessons from others mistakes and failed strategies can help the companies save a good amount of money and time. The lessons or information that a strategizing team cannot learn from one unsuccessful case study is more valuable and informative than a hundred successful case studies.
The Indian Automobile Industry has witnessed few cases of developing, successful and failed business ventures which is now part of the history. It could never part of history if these brands did not make big mistakes.MAN and GM are two of the most major brands who had to stop their sales and close their shops in India even after having a big market size and a tremendous growth prospect. They were not able to compete with other Brands and meet the requirements of the Indian Customers expectations. Many other OEMs are also struggling in the current Indian market and they are not able to reach the 2-digit market share. These companies are leading players in the automobile sector in many other developed and developing countries. They have a very strong and innovative research and development section, highly qualified and tactical management even with these advantages they failed to develop appropriate strategies to improve the market share in the current Indian market.
MAN is a highly reputed brand Munich based highly acknowledged automotive brand across the world. They have the world’s best engineering technology development sector. The performance of the Commercial Vehicle plays a very vital role for Heavy Duty Truck segment. MAN was in the same segment. GM an American company. They are good in the field of branding & marketing their products as well. They also have an innovative and improvised method for maintaining their Brand in the market. These two factors play an important role in the customer's mind to purchase the car. Even with their improvised technology and brand name they could not become successful because of various reasons. The one-line and straight answer for their failure in the Indian market are that they could not win customer trust regarding the brand to buy MAN and GM vehicles.
We have identified the reason why these renowned brands could not win customer trust. We found the answer to their failure.
We have done a detailed study under the following parameters: External and Internal factors
- Improve acceptance of brand among customers
- Is it the Brand failure or product failure or both
- Poor and ineffective marketing strategies
- Weak and ineffective business planning
- Wrong forecast of market data and trends
- Doing an analysis of the wrong segment
- Wrong interpretation of segments
- Failed to provide “value for money” to the customers
- Failure to do detailed competitor analysis
- Poor management of plans and technology
- Poor Human resource policies
- Product viability issue
- Wrong pricing of the product
- Supply Chain Management
- Poor and improper after Sales support
- Not able to connect with the customer
- The poor brand management team and ineffective marketing
- Improper allocation of budget for advertising the brand products
BharatBenz also has to improve its strategy to win the customer confidence in the current Indian market. Fiat and Hino are another examples of this series. The other new payer like KIA and MG Motor can take the advantage of this situation, do a detailed study and improve their business strategies. There is no chance for mistakes in this highly competitive market.
In our report, we have suggested many key solutions to be successful in the developing and improving Indian market.
Every business has its own ups and downs to be successful in the completion one has to be smart, innovative and a step above your competitor. There is a big and wide open Indian market for the brands to capture the market share. The brands will have to innovate and be smart with effective plans to gain trust and be in the minds of the Indian customer. It is not an impossible task but a very difficult one at least. We can it easy and simple with our expertise.
Image by Jiafeng Wang
