Marketing Strategy of TVS Motors analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on TVS Motors marketing mix, help the brand succeed in the market. Let us start the TVS Motors Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in TVS Motors marketing strategy can be explained as follows:
TVS caters to a wide range of automotive categories which include mopeds (XL, Super XL, Super Heavy Duty, XL 100, XL 100 Comfort), Scooters (TVS Scooty pep, Scooty zest 110, Wego 110, Jupiter), Motorcycles (Sport, Start city +110, Victor 2016 Phoenix 125, TVS Apache RTR 160, 180, 200 and 200 4V) and 3 wheelers (King), which all come under the product strategy in the marketing mix of TVS Motors. TVS has earnt a reputation of producing very innovative solutions for its product lineup. It has innovated such products as TVS 50, India’s first two seater moped, Scooty, India’s first scooterette, TVS Champ, India’s first Digital Ignition, Apache, India’s first bike to feature Anti Lock Braking System, Jive, first bike in India without a clutch, Wego, first scooter featuring Body balance technology, Victor, first indegeniously developed Indian bike.
So catering to mass markets as well as young working professionals, smart independent women and sports oriented youngsters, TVS has a wide range of products.
Image: company website
TVS Motors Price/Pricing Strategy:
Below is the pricing strategy in TVS Motors marketing strategy:
TVS motors is one of the largest selling motorcycle brands in India. Strictly keeping in mind the sentiments and value of Indians, TVS prices its products competitively, undercutting the competition in case of Scooters, scooterettes, and entry level motorcycles.
Traditionally TVS has been known for its value pricing for its spare parts too, many of which are used in its own products. Since buyers of these segments have constantly changing needs, TVS uses survival strategy to remain competitive. Thus, mostly the pricing strategy in the marketing mix of TVS Motors is based on competition. The hotly contested Rs50000 to Rs80000 segment sees a lot of entrants each year but TVS continues to be profitable and drives home good sales because of its pricing strategies. Through new tie ups with financial institutions and launch of updated variants, TVS is able to attract customers without raising its product prices.
Following is the distribution strategy in the TVS Motors marketing mix:
TVS motorcycles have a strong distribution network. Boasting of an extensive dealer network exceeding 2000 in most states of India, TVS has presence which is bested only by competitors like Hero MotoCorp and Bajaj. With manufacturing plants in Hosur, Nalagarh, Mysore, Karawang, Indonesia. With a strong focus on rural markets, TVS as a brand is etched in the memories of those living in outskirts and rural areas and not just cities and tier 1 towns. The wide dealership network is the place strategy in the marketing mix of TVS Motors, Licensed showrooms apart from authorized dealerships also stock and sell TVS vehicles, sometimes paired with finance and loan schemes.
Service camps are also organized in the hinterland for even better rural penetration and reach.
TVS Motors Promotion & Advertising Strategy:
The promotional and advertising strategy in the TVS Motors marketing strategy is as follows:
TVS has been able to strengthen its brand in India with extensive marketing. It has clearly understood its segmentation and positioning and directs its promotional activities to specific target audiences. A multi faceted strategy of communications with a strong online presence helps it to gain leverage as far as back of the mind recall is concerned. Good media relations, and carefully targeted advertising campaigns as a part of the promotional strategy in the marketing mix of TVS, further help build the brand to grow. Comprehensive brochures, ATL advertising, standees, direct emailers etc all help boost TVS sales. Hence, all these points summarize the marketing mix of TVS Motors.
About TVS Motors:
India’s third largest largest two wheeler manufacturer, and the second largest exporter with exports to over 60 countries, TVS Motor Company is a member of the TVS group. TVS motors had a revenue of Rs 11500+ crore in 2015-16. It began originally as a transportation company of trucks and busses and made inroads into the automotive manufacturing, finance, insurance, tyres and component manufacturer in 1955.
For the purpose of technology transfer, design assistance and manufacture of two wheelers specifically for India it entered into a partnership with Suzuki (TVS-Suzuki) to launch such successful products as Suzuki Shaolin, Suzuki Shogun and Suzuki Samurai. This partnership ended in 2001 after which the company changed its name to TVS Motors.
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