MARKETING STRATEGY OF ELECTRIC BICYCLE

Assignment Taken

MARKETING

Case Understanding

from the case we can see there is a huge scope for renewable energy and automobile sector is taking steps in this direction but India is in starting phase and there is a huge scope in this sector specially in two-wheeler, three-wheeler, and commercial vehicles. Government target for 30% adoption of electric vehicles by 2030 so we can develop a product and launch in this growing market and generate revenue

BCS Solution Summary

To resolve the problem we have developed a product which is electric Bicycle which can be used by most of the population as it is effective, affordable and easy to use. we can target a huge audience which is college and school going, Daily wage worker and people who need to travel within the city. There is no potential competition in this market. So there is huge scope of success and the project can be completed in low budget and return on investment will be great. the bicycle is ecofriendly and acceptable by government. This sector have a great potential for success.

Solution

MARKET ENTRY: BICYCLE

THE TOTAL MARKET OF BICYCLE IN INDIA IS APPROXIMATELY DEMAND GROWTH OF 20 PER CENT THIS FISCAL WITH SALES LIKELY TO TOUCH 1.45 CRORE UNITS COMPARED WITH 1.2 CRORE, AN AS A NEW PLAYER IN ELECTRICAL SEGMENT WE ARE VERY POSITIVE OF CHANGING SCENERIO THAT THE MARKET WILL GOING TO CHANGE TO ELECTRICAL VEHICLE AND MORE DEMAND OF ELECTRIC VEHICLE IS GOING TO BOOM, AND THAT’S WHAT GIVES US AN VISION TO FOCOUS ON ELECTRICAL BICYCLE.

BUSINESS GOAL FOR EXPANSION:

OUR COMPANY IS FOCUSED TO GET 100 BICYCLE MANUFACTURE AND SOLD INITIALLY IN FIRST YEAR AND WILL USE THE MONEY THAT WE WILL GET AFTER SALE IN FUTURE PLANNING TO CAPTURE MORE MARKET.

TARGETED LEVEL OF SALE FOR FIRST YEAR IS 100 BICYCLE(ELECTRIC VEHICLE)

TARGET CUSTOMER IS DOOR TO DOOR SHIPERS, STUDENTS, LOW WAGE WORKERS ETC.(ELECTRICAL)

SIZE OF THE MARKET IS APPROXIMATELY 1.45 CRORES AND WE ARE HOPING THAT IN INITIAL YEAR WE WILL CAPTURE THE MARKET OF APPROXIMATELY 2000 BICYCLES OUR MODE OF ENTRY IS GOING TO BE FIRST CREATING DEMAND THEN WORK ON SUPPLY

IT WILL GOING TO COST US APPROXIMATELY 60 LAKHS IN INITIAL YEAR.

 MARKETING STRATEGY

WE CREATE CAMPIAGN IN WHICH WE WILL INTRODUCE OUR ELECTRIC BICYCLE AND ALSO WE WILL AWARE PEOPLE ABOUT BENEFITS OF USING THIS ELECTRIC BICYCLE.

1. STUDENTS

THE MARKETING STRATEGY WHICH WOULD BE USED FOR STUDENT, AS WE ALL KNOW THAT FOR STUDENTS IT WOULD BE EXPENSIVE AND ALSO TIME TAKING TO USE PUBLIC TRANSPORTATION AND THOSE WHO USE BIKE FOR THEM PETROL IS EXPENSIVE, SO FOR STUDENTS WE WILL GIVE THEM 1000RS DISCOUNT SO THEY CAN PURCHASE IT.

 

1. FOR LOW WAGES WORKERS

THOSE WHO EARN LESS MONEY BUT MORE OF THE MONEY THEY SPEND ON THE TRANSPORTATION FOR THEM IT COULD BE CHEAPER THAN PUBLIC TRANSPORT. BY THIS THEY COULD SAVE MORE MONEY AND ALSO THERE WILL BE NOT ANY TIME ISSUE .

 

1. DOOR TO DOOR SHIPMENT

AS THEY ARE RUNNING IN THE CITIES IN RUSH SO MIGHT BE THEY WOULD SUFFER PETROL ISSUES, FOR THEM IT WILL BE MORE CONVICIENT TO USE ELECTRIC BICYCLE. IF THEY CHARGE ONCE IN A DAY THEN IT WILL RUN 70KM SO THERE WILL BE NO CHANCE TO GET STUCK ANYWHERE. ZOMATO DELIVERY, URBANCLAP, PLUMBER ETC. PEOPLE WILL USE IT.

DISTRIBUTION STRATEGY:

DEMAND & SUPPLY

FIRST CREATING DEMAND AND THEN WORK ON SUPPLY,

IN INITIAL YEAR OUR DISTRIBUTION IS GOING TO BE ZERO LEVEL OF DISTRIBUTION I.E FROM MANUFACTURING UNIT TO BUYER,

FIRST ORDER THEN MANUFACTURE THEN DIRECT DISTRIBUTION TO THE BUYERS

IT WILL SAVE US FROM VARIOUS COST LIKE WAITING COST AND MIDDLE-MEN COST.

 

BRAND BUILDING PLAN:

WE ARE CUSTOMER CENTRIC ORGANISATION AND ONLY FOCOUSES ON PROVIDING BEST PRODUCT AND SERVICES EXPERIENCE TO OUR BUYERS THAT WILL CREATE FOLLOWING THINGS I.E,

WORD OF MOUTH

BEST SERVICES BEFORE SALES AND AFTER SALES

CUSTOMER CARE

INTEGRATED DIGITAL MARKETING

ENVIRONMENT FRIENDLY

COMBINATION OF ABOVE ARE GOING TO BE OUR BRAND BUILDING PLAN.

 

 

UNIQUE SELLING PROPOSITION THAT WILL GOING TO HELP TO INCREASE OUR  ELECTIC BICYCLE

WE ARE GOING TO PROVIDE VARIOUS USP’S RELATED TO OUR PRODUCT LET SEE,

BEST BEFORE/AFTER SALE SERVICES I.E PURE CUSTOMER CENTRIC

BEST BATTERY BACKUP IN COMPETITIVE RANGE

LOW PRICE VEHICLE IN COMPETITIVE PRICE

LUCRATIVE EMI OPTIONS FOR ALL TARGET MARKET

PREMIUM AND BASIC VERSION OF VEHICLE IS MADE ACCORDING TO REQUIREMENT

SO ABOVE ALL ARE GOING TO BE OUR USP’S FOR ENTERING INTO MARKET AND TO INCREASE THE SALES OF OUR COMPANY IN A COMPETITIVE MARKET.

Conclusion

we need a product which is affordable and acceptable so If we introduce this electric bicycle, then it will be very much effective for the environment. As we all are watching that in todays scenario because of pollution our cities are polluting very much. If people go for bike and public transport then it will be hectic , time taking and cost taking. For all these in mind we are making this electric bicycle. we can capture a huge market in this area and become a market leader

Attached File Details