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Project on Marketing Strategy of Maruti Suzuki.274views

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Published on Jan 03, 2015

College Assignment on Marketing Strategy of Maruti Suzuki.

College Assignment on Marketing Strategy of Maruti Suzuki.

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1. 1 CONTENT Sr. No. PARTICULARS Page No. 1 Introduction 2 2 History of Automobile Industry In India 3 3 Porter Five Force Model In IndianAutomobile Industry 5 4 Maruti Suzuki Ltd. 6 5 Marketing Strategy of Maruti Suzuki Ltd. 9 6 Consumer Behaviour 12 7 Marketing Mix 13 8Segmenting, Targeting, Positioning 17 9 Porter Five Force Model for Maruti Suzuki Ltd. 20 10 Three Generic Strategies 22 11 SWOT Analysis 2312 BCG Matrix 26 13 Product Life Cycle 27 14 Ratio Analysis 28 15 Conclusion 37 16 Bibliography2. 2 INTRODUCTION: The Indian automobile sector is one of its most vibrant industries. The industry accounts for 22 per cent of the country'smanufacturing gross domestic product (GDP). It comprises passenger cars, two­wheelers, three­wheelers and commercial vehicles and is currentlythe seventh­largest in the world with an average annual production of 17.5 million vehicles, of which 2.3 million are exported. The Indian automarket has the potential to dominate the global auto industry, provided a conducive environment is created for potential innovators to come up withnew pilot projects. The next few years are projected to show solid but cautious growth due to improved affordability, rising incomes and untappedmarkets. All these open up an opportunity for automobile manufactures in India. In addition, with the government's backing and a special focus onexports of small cars, multi­utility vehicles (MUVs), two and three­wheelers and auto components, the automotive sector's contribution to the GDP isexpected to double, reaching a turnover of US$ 145 billion in 2016, according to the Automotive Mission Plan (AMP) 2006­ 2016. The automobileindustry produced a total of 1,861,849 vehicles including passenger vehicles, commercial vehicles, three­wheelers and two­wheelers in April 2014 asagainst 1,687,243 in April 2013, registering a growth of 10.35 percent over the corresponding month of 2013. The growth is mostly attributed to therise in two­wheeler production. Two­wheeler sales registered growth of 11.67 percent in April 2014 over April 2013. Within this segment, scooters,motorcycles and mopeds grew by 26.08 percent, 8.06 percent and 0.23 percent respectively. In April 2014, passenger car sales stood at 1,786,899units while utility vehicles sales stood at 525,942 units, as per data from Society of Indian Mobile Manufacturers (SIAM). Export of utility vehiclesshowed an improvement of 298 percent with 41,550 units. Tractor sales in the country will grow at a compound annual growth rate (CAGR) of 8­9per cent in the next five years making India a high­potential market for international brands such as Kubota, Case New Holland, AGCO. Same DeutzFahr and John Deere, according to JD Power Asia Pacific's maiden pilot study on the Indian tractor market. The cumulative foreign direct investment(FDI) inflows into the Indian automobile industry during the period April 2000 ­May 2014 was recorded at US$ 9,885.21 million, according to datapublished by Department of Industrial Policy and Promotion (DIPP).3. 3 HISTORY OF AUTOMOBILE INDUSTRY IN INDIA: The first car on Indian roads ran in 1897. Until the 1930s, cars were imported directly,but in very small numbers. An embryonic automotive industry emerged in India in the 1940s. Hindustan was launched in 1942, long time competitor

Premier in 1944. They built GM and Fiat products respectively. Mahindra & Mahindra was established by two brothers in 1945, and began assemblyof Jeep CJ­ 3A utility vehicles. Following the independence, in 1947, the Government of India and the private sector launched efforts to create anautomotive component manufacturing industry to supply to the automobile industry. In 1953 an import substitution programme was launched, andthe import of fully built­up cars began to be impeded. However, the growth was relatively slow in the 1950s and 1960s due to nationalisation and thelicense raj which hampered the Indian private sector. Total restrictions for import of vehicles were set and after 1970 the automotive industry startedto grow, but the growth was mainly driven by tractors, commercial vehicles and scooters. Cars were still a major luxury item. In the 1970s pricecontrols were finally lifted, inserting a competitive element into the automobile market. By the 1980s, the automobile market was still dominated byHindustan and Premier, who sold superannuated products in fairly limited numbers. During the eighties, a few competitors began to arrive on thescene. To promote the auto industry the government started the Delhi Auto Expo which was had its debut showcasing in 1986. The Auto Expo of1986 was a window for technology transfers showing how the Indian Automotive Industry was absorbing new technologies and promotingindigenous research and development for adapting these technologies for the rugged Indian conditions. The nine day show was marked by then PrimeMinister Rajiv Gandhi. LIBERALISATION: Eventually multinational automakers, such as, though not limited to, Suzuki and Toyota of Japan andHyundai of South Korea, were allowed to invest in the Indian market ultimately leading to the establishment of an automotive industry in India.Maruti Suzuki was the first, and the most successful of these new entries, and in part the result of government policies to promote the automotiveindustry beginning in the 1980s. As India began to liberalise their automobile market in 1991, a number of foreign firms also initiated joint ventureswith existing Indian companies. The variety of options available to the consumer began to multiply in the nineties, whereas before there had usuallyonly been one option in each price class. By 2000, there were 12 large automotive companies in the Indian market, most of them offshoots of globalcompanies. Exports were slow to grow. Sales of small numbers of vehicles to tertiary markets and neighbouring countries began early, and in 1987Maruti Suzuki shipped 480 cars to Europe (Hungary). After some growth in the mid­nineties, exports once again began to drop as the outmodedplatforms handed down to Indian manufacturers by multinationals were not competitive.4. 4 This was not to last. The de­licensing of the industry in 1993 opened the sluice gates a flood of international auto­makers that rushed into whatthey saw as the last remaining untapped market ­ the largest democratic market of the world. The next couple of years saw an unprecedented growthin the industry with assembly lines working overtime to meet demand. Dazzled by the potential of India's 100 million odd people, car companiesplanned ambitious capacities. However, India was a much tougher markets than they had imagined. They under estimated Maruti's strangle hold ofthe bottom end of the market and were unable to compete with it on price and sheer value for money. Today India manufactures low­priced cars formarkets across the globe. As of 18 March 2013 global brands such as Proton Holdings, Kia, Mazda, Chrysler, Dodge and Geely Holding Group areshelving plans for India due to the global economic crisis.5. 5 PORTER FIVE FORCES MODEL IN THE INDIAN AUTOMOBILE INDUSTRY: Threat from New Players: Increasing Most of the majorglobal players are present in the Indian Market; a few more are expected to enter. Financial strength assumes importance as high investments arerequired for building capacity. Access to distribution network is important. Although important for all segments, having a distribution network inrural areas is vital for two­ wheeler makers. Lower tariffs in the post­World Trade Organization era may expose Indian companies to threat ofimports (however, the threat may be mitigated by non­tariff barriers that may still exist). Market Strength of Suppliers: Low A large number ofautomotive component suppliers are present in the Indian automotive industry. Automotive players are rationalizing their vendor base to achieveconsistency in quality. Rivalry within the Industry: High There is keen competition in select segments (such as the Compact and Mid­sizesegments in passenger cars, and the motorcycle segment in two­ wheelers). New multinational players may enter the market. Market Strength ofConsumers: Increasing Increases awareness among consumers has raised expectations. Thus, the ability to innovate (technology being the enabler)is critical. Product Differentiation via new features, improved performance and after sales support is critical. Increases competitive intensity haslimited the pricing power of manufacturers. Threat from Substitutes: Low­Medium With consumer preferences changing, inter­ productsubstitution is taking place (scooters are being replaced by motorcycles, and Mini cars by Compact Mid­size cars.6. 6 MARUTI SUZUKI Maruti Udyog Limited was established in February 1981, though the actual production commenced only in 1983. It startedwith Maruti 800, based on the Suzuki Alto Kei car which at the time was the only modern car available in India. Its only competitors were HindustanAmbassador and Premier Padmini. Originally, 74% of the company was owned by the Indian government, and 26% by Suzuki of Japan. In May2007, the government of India sold its complete share to Indian financial institutions and no longer has any stake in Maruti Udyog. HISTORY:Maruti's history begins in 1970, when a private limited company named 'Maruti technical services private limited' (MTSPL) is launched onNovember 16, 1970. The stated purpose of this company was to provide technical know­how for the design, manufacture and assembly of "a whollyindigenous motor car". In June 1971, a company called 'Maruti limited' was incorporated under the Companies Act and Sanjay Gandhi became itsfirst managing director. "Maruti Limited" goes into liquidation in 1977. On 23 June 1980 Sanjay Gandhi dies when a private test plane he was flyingcrashes. A year after his death, and at the behest of Indira Gandhi, the Indian Central government salvages Maruti Limited and starts looking for anactive collaborator for a new company. Maruti Udyog Ltd is incorporated in the same year. SUZUKI’S ENTRY: In 1982, a license & Joint VentureAgreement (JVA) is signed between Maruti Udyog Ltd. and Suzuki of Japan. At first, Maruti Suzuki was mainly an importer of cars. In India's closedmarket, Maruti received the right to import 40,000 fully built­up Suzuki’s in the first two years, and even after that the early goal was to use only33% indigenous parts. This upset the local manufacturers considerably. There were also some concerns that the Indian market was too small toabsorb the comparatively large production planned by Maruti Suzuki, with the government even considering adjusting the petrol tax and lowering theexcise duty in order to boost sales. Finally, in 1983, the Maruti 800 is released. This 796 cc hatchback is based on the SS80 Suzuki Alto and is India’sfirst affordable car. Initial product plan is 40% saloons, and 60% Maruti Van. Local production commences in December 1983. In 1984 the MarutiVan, with the same three­cylinder engine as the 800, is released. Installed capacity of the plant in Gurgaon, reaches 40,000 units. In 1985 the SuzukiSJ410­based Gypsy, a 970 cc 4WD off­road vehicle, is launched. In 1986 the original 800 is replaced by an all­new model of the 796 cc hatchbackSuzuki Alto/Fronte. This is also when the 100,000th vehicle is produced by the company. In 1987 follows the company's first export to the West,when a lot of 500 cars were sent to Hungary. Maruti products had been exported to certain neighboring countries already. By 1988, the capacity ofthe Gurgaon plant is increased to 100,000 units per annum.7. 7 MARKET LIBERALISATION: In 1989 the Maruti 1000 is presented after having been shown earlier. This 970 cc, three­box is India’s firstcontemporary sedan. By 1991 65 percent of the components, for all vehicles produced, are indigenised. Meanwhile, the liberalisation of the Indianeconomy opens new opportunities but also brings more competition to the segments in which Maruti operates. In 1992 Suzuki increases its stake inMaruti to 50 percent, making the company a 50­50 JV with the Government of India the other stake holder. A flow of new models begin in the earlynineties. In 1993 the Zen, a modern 993 cc, hatchback which is later exported globally as the Suzuki Alto. In 1994 the 1298 cc Esteem appears, amore luxurious redesigned Maruti 1000. This and other Marutis begin appearing in a plethora of different equipment levels, to better suit India'sincreasingly discerning consumers. A Zen Automatic arrives in 1996, as does the Gypsy King, a 1.3 liter version of the compact off­roader, and aminibus version of the Omni (the Omni E). In 1994 Maruti Suzuki produces its 1 millionth vehicle since the commencement of production, being thefirst company in India to do so. This is still not enough in a booming market and the next year Maruti's second plant is opened, with annual capacityreaching 200,000 units. Maruti also launches a 24­hour emergency on­road vehicle service, the first of its kind in the country. In 1996 the UnitedFront government is formed, with Murasoli Maran new Industries Minister. On 27 August the following year the government nominates Mr. S.S.L.N.Bhaskarudu as the Managing Director, as the then current Managing director R.C. Bhargava, was completing his tenure. This creates a conflict withSuzuki, discussed closer in the Joint venture related issues section. In 1998 the new Maruti 800 is released, the first change in design since 1986. Thisis simply a facelift of the existing model, to ensure steady sales. Also, the two millionth vehicle is produced. Other news included the Zen D, a 1527cc diesel hatchback and Maruti's first diesel vehicle. The Omni van and microbus is also redesigned. The next year the Omni bus arrives in a high

roof version, the Omni XL. The 1.6 liter Maruti Baleno three­box saloon, advertised as the 'Maruti Suzuki Baleno', also appears. This is Maruti'sbiggest car yet. Finally, in what is a very busy year, the Wagon R is launched. In 2000 Maruti becomes the first car company in India to launch a CallCenter for internal and customer services. The new Alto model is also released, somewhat larger and more modern than the 800. The estate BalenoAltura is also shown, while IDTR (Institute of Driving Training and Research) is launched jointly with the Delhi government to promote safe drivinghabits. In 2001 Maruti True Value, selling and buying used Maruti Suzukis, is launched in Bangalore and Delhi, later in Mumbai and elsewhere. InOctober of the same year the Maruti Versa sees the day, a bigger engined and more luxurious microbus than the Omni. It never catches on in themarket and is discontinued by late 2009, only to be replaced by a cheaper, stripped­down version called Eeco. Customer information centers are alsolaunched in Hyderabad, Bangalore and Chennai. In 2002 the Esteem Diesel appears, as does Maruti Insurance. Two new subsidiaries are also started:Maruti Insurance Distributor Services and Maruti Insurance Brokers Limited. Suzuki Motor Corporation increases its stake in Maruti to 54.2 percent.8. 8 In 2003 the new Suzuki Grand Vitara XL­7 appears, while the Zen and the Wagon R are upgraded and redesigned. The four millionth Marutivehicle is built and they enter into a partnership with the State Bank of India. Maruti Udyog Ltd is listed on BSE and NSE after a public issue, whichis oversubscribed tenfold. In 2004 the Alto became India's new bestselling car, overtaking the Maruti 800 which had been number one for nearly twodecades. The five­ seater Versa 5­seater, a new variant, is created while the Esteem undergoes cosmetic changes and is re­launched with a price cut.Maruti Udyog closed the financial year 2003­04 with an annual sale of 472,122 units, the highest ever since the company began operations 20 yearsearlier, and the fiftieth lakh (5 millionth) car rolls out in April, 2005, with overall sales growing by 15.8%. The 1.3 L Suzuki Swift five­doorhatchback also appears. 2004­05 marked another record year (487,402 domestic sales) and exports reached 48,899 cars to about fifty differentcountries. The United Kingdom took the lion's share, with 10,623 deliveries. In 2006 Suzuki and Maruti set up another joint venture, "Maruti SuzukiAutomobiles India", to build two new manufacturing plants, one for vehicles and one for engines. Cleaner cars were also introduced, with severalnew models meeting the new "Bharat Stage III" standards. In February 2012, Maruti Suzuki sold its ten millionth vehicle in India. For the Month ofJuly 2014, it has a Market share of >45 %. In August 2014, CCI imposed a fine of around 2,545 crore on 14 auto companies for indulging in anti­competitive trade agreements. CCI has directed these companies to put in place an effective system for purchasing spare parts. Among the companiesfined, Maruti Suzuki was slapped a fine of 471.14 Cr. On 3 September 2014, the Delhi High Court has stayed the Competition Commission of India’spenalty on Maruti Suzuki.9. 9 MARKETING STRATEGY OF MARUTI SUZIKI LTD: In earlier days when the market was dominated by only few brands like Ambassador& Premier Padmini, Maruti Suzuki India Limited entered the Indian market with different strategy. The strategy of the company was to offer acompact, modern and fuel efficient car. Maruti released its first Maruti 800 car on 14 December 1983 to fulfill the dreams of Indian customers andbecame the market leader. Since 1983 till date Maruti Suzuki gradually offered several choices to the consumer. Due to aggressive competitors todayMaruti Suzuki believes in Innovative Marketing Strategies. With the changing needs, wants & requirements of customers and markets, Maruti Suzukiis altering their Brand Positioning, Advertising and Distribution strategy. BRAND POSITIONING STRATEGY: Brand Positioning is the most vitalconcept in a brand‘s strategy. Brand Positioning is also linked with managing a brand‘s meaning. Today several brand of cars are positioningthemselves on the features like Price, Comfort dimensions, Safety, Mileage etc. Currently Maruti Suzuki followed a very effective multi­segmentation strategy to grab the different segments of the market with different versions of its brands. About brand positioning Mayank Pareek saysthat, Maruti Suzuki believe in research and before launching a product the Maruti team does an extensive research on the needs of the customer.Maruti try to understand the customer‘s demography and psychology to position a brand. Also the company follows the suggestions made by existingcustomers. PROMOTIONAL STRATEGY: Every company is it a big or small needs an innovative promotional strategy because promotionalcampaigns tend to have a huge effect on the reception of the product. Maruti Suzuki India Ltd has a formidable line­up of vehicles in its stable andhas been quite aggressive about promoting each of its automobile brands. With an intention to face with cutthroat competition and due to decliningmarket shares, in 2000 Maruti Suzuki cut the prices of few models like Wagon R, Omni and Maruti 800 because Maruti knew very well that theIndian consumer is very sensitive about price & this price cut will definitely beneficial for company. In Jan 2002 to attract the customers, Marutidecided that some of its corporate assets in Delhi including Maruti‘s manufacturing plant and children‘s park should be promoted. With an intentionto promote road safety and efficient driving the company held ‘carnivals’ periodically at IDTR. In 2003, to attract the customers Maruti Suzukilaunched attractive campaign like ―Change Your Life‖. The company also offered vehicle insurance for One rupee only. In this campaign thecustomers were asked to write down the chassis and engine number of their vehicles on the entry form and had to answer the question. In this contestthe winners were chosen by a draw of lots and were entitled to gifts worth Rs.50 million. In 2004, Maruti introduced the ‘2599’ offer under which bypaying an EMI of Rs. 2599 for seven years after a down payment of Rs.40000, a consumer could buy a Maruti 800. In 2004 Maruti introduced the‘Teacher Plus’ scheme, in a tie up with SBI. In this scheme the bank offered reduced rates of interest for teachers who were interested in buying anew car.10. 10 Rural India is a fast emerging as a focus area in the country‘s economy. Maruti knew that there is a great potential in rural markets & in ruralmarkets, the endorsements of opinion makers takes precedence over an informed objective Judgment. Considering this fact, Maruti Suzuki launcheda panchayat scheme for such opinion makers which covers the village Sarpanch, doctors and teachers in government instititutions, rural bank officerswhere in an extra discount is given to make a sell. As a part of customer engaging strategy and to attract the potential customers Maruti organizedvarious melas wherein local flavor is added by organizing traditional social activities like Gramin Mahotsava are conducted round the year. As a partof promotional approach Maruti Suzuki promoted Swift & other brands through sponsoring various live programmes (Dancing shows) like DanceIndia Dance. ADVERTISING STRATEGY: Advertising is one aspect of brand building. Whenever Maruti launched any brand, it supported thatbrand with an ad campaign. Maruti‘s advertising campaigns included TVCs, Radio and Print ads, Point of Sale, Mobile promotions, onlinemarketing, Outdoor promotions. Maruti‘s advertising strategy focused both on building up its corporate image and promoting its cars. Maruti‘scampaigns emphasized different aspects of its cars, including fuel efficiency, looks, space, etc. In the late 1990s, Maruti‘s advertising campaignswere handled by Lowe India (later known as Lowe Lintas & Partners, India) and Rediffusion DY&R. While advertising related to Esteem, Zen andBaleno were handled by Lowe India and the ad campaign of Maruti 800, Gypsy, Omni and Wagon­R were handled by Rediffusion. With an intentionto promote the all brands effectively, in 2000 Maruti decided to appoint Capital Advertising. In 2003, Maruti Suzuki came up with an innovativeadvertising that became popular for its simplicity and clear message. In this ad one child plays with his toy car & when the father asked him, hereplies, ‘Kya karoon papa petrol khatam hi nahi hota’. This ad depicted the fuel efficiency of Maruti Suzuki. DISTRIBUTION STRATEGY:Distribution is an important marketing mix. In earlier days the consumers used to book for a car and wait for more than a year to actually buy it. Alsothe concept of Show rooms was non­ existent. Even worse thing was the state of the after sales service. With an objective to change this scenario &to offer better service to customers, Maruti took initiative. To gain competitive advantage, Maruti Suzuki developed a unique distribution network.Presently the company has a sales network of 802 centers in 555 towns and cities, and provides service support to customers at 2740 workshops inover 1335 towns and cities. The basic objective behind establishing the vast distribution network was to reach the customers even in remote areas anddeliver the products of the company. The company has formed the Dealer territories and the concept of competition amongst these dealers has beenbrought about. Periodically corporate image campaigns in all dealership are carried out. In 2003, to increase the competition the companyimplemented a strategy for its dealers to increase their profitability levels. Special awards were sometimes given by company for sales of specialcategories. Maruti Suzuki had given an opportunity to dealers to make more profits from various avenues like used11. 11 car finance and insurance services. In 2001, Maruti started an initiative known as ‗Non Stop Maruti Express Highway‘. As a part of thisinitiative Maruti developed 255 customer service outlets along with 21 highway routes by 2001­02. Also with an intention to provide fast service inless time Maruti had offered Express Service Facility. In the year 2008, Maruti had near about 2,500 rural dealer sales executives, among the total15,000 dealer sales executives.

12. 12 CONSUMER BEHAVIOUR: For any company it is important to know about the needs and requirements of their customers. It has been foundthat the most searched car in India is Maruti Suzuki and it sells more than half the cars in India. Maruti Suzuki also enjoys 70 percent repeat buyerwhich in tune with its claim of being consumer friendly. There are several aspects that consumer look at with varying degree: 1. Price: People lookfor affordable price. They have their budget that they can spend on a car. For middle class and lower middle class Indian price is a very importantfactor. Maruti has been successful in catering to their needs. 2. Mileage: Consumers look at mileage. In this scenario of rising petrol prices mileagebecomes a very important characteristic. Fuel efficiency of car is demanded by all categories of buyers. 3. Brand Recognition and Association:Consumer likes to be associated with an established brands. It gives them a sense of security. 4. Durability and Warranty: A car is not purchased veryoften. Customers look for durability. 5. Appearance and Style: Car is status symbol for many customers. It’s a form of portraying their class andcurrent financial condition. These customers give a lot of importance on the appearance and style. Relatively young customers look more for stylethan old ones. 6. Reliability and Trust: A brand should be associated with trust and reliability, only then will it be positioned in the minds of thepeople for a longer time and can succeed in the market. 7. Availability: With the explosion of choices, products should be easily available otherwiseprospective customers will shift to the competitors. Ease of availability can also bring competitors customers to our brand if they fail in this category.8. Resale Value: People like to change cars after certain number of years which depends on several parameters. New car purchase is oftenaccompanied by exchange of old car. Hence a high resale value is what customers look for and Maruti provides this.13. 13 MARKETING MIX The basic elements of marketing mix of a company are the 4 P’s (Product, Price, Place and Promotion). The 4 P’s ofmarketing helps in determining the various marketing strategies adopted by the company. PRODUCT: Maruti Suzuki has divided its product line intofive segments as per the following table. Product Line Products A1 (Mini) 800 A2 (Compact/Hatchback) Alto, Swift, Ritz, Celerio A3 (Mid­size)Swift DZire, SX4 Utility Vehicle Gypsy, Grand Vitara Multi­Purpose Vehicle Omni, Eeco The cars have also been divided into its various variantsdepending on the type of fuel used. Some cars have been rolled out for use with both petrol and diesel. With rising prices of petrol, there is a sharpdemand for diesel­run vehicles. Also, Maruti Suzuki has two of its cars with CNG fitting too. These are vehicles that run on CNG. Examples of CNGrun cars are Alto 800, Eeco, Wagon R, Celerio, Ertiga and SX4. By the year 2015, Maruti Suzuki is planning to launch an electric car by the nameSwift Hybrid, which will be a hatchback car. PRICE: The prices of the cars of Maruti Suzuki have generally been set to target the lower middle classand middle class families in India. Their pricing strategy is based on their continuing vision of “Putting India on Four Wheels”. Their prices are sodesigned as to enable people to upgrade from 2­wheelers to 4­wheelers and already 4­wheeler owners to upgrade to a better 4­wheeler offered by thecompany. In 2007, though the company changed its price strategy as it was being labeled as low­price small car manufacturer. They launched plansof a new car in the premium car segment, Maruti Suzuki Kizashi, to remove this label attached to the company’s reputation.14. 14 The following chart shows the various products and their price range of the cars of Maruti Suzuki Ltd. in India PLACE: This is one part of themarketing mix where Maruti Suzuki has an advantage over all of its competitors due to their presence in the country for the longest time as comparedto its rivals. They enjoy a well distributed and an extensive network of car sale outlets, exclusive showrooms, authorized service stations, true valueoutlets. Maruti Suzuki has two state­of­the­art manufacturing facilities setup in Gurgaon and Manesar to the south of Delhi. The combined capacityfor the two plants is 1.2 million vehicles on an annual basis. Some numbers showing the extensive network for Maruti Suzuki are: Showrooms andCar Sale Outlets ­ 933 covering 668 cities. Authorised Service Stations – 1845 covering 1395 cities. Dealership Outlets – 1101 True ValueOutlets – 353 covering 208 cities. Express Service Stations on Highways ­ 3015. 15 The True Value Outlets were started with a view to retain the customers under exchange programs enabling the customers to upgrade theirexisting car models. Later these outlets were converted to be a different vertical business unit of Maruti Suzuki Ltd. to capture the market for preowned cars in India based on the high resale value of Maruti Suzuki cars giving up to 70 percent return on resale. PROMOTION: The company hasfor most of its years of operation targeted the Indian middle class families as their main consumers. That’s why their promotional strategy has alwaysbeen to create an emotional connect with the audience. Maruti Suzuki Ltd. has used various media of promotion. TV ­ There has been a lot ofadvertisements through this media as most of the target audience connects to Maruti Suzuki through its emotional TV commercials company toucheseveryone irrespective of their demographics, age, occupation etc. There is always an advantage when an connection is made with the audiencethrough audio­visual means as it is supposed to leave an ever lasting impact on the consumers. Print Media – The Company has also usednewspaper, magazines to promote its product to the consumers. Radio – The Company also uses radio as an important media for advertising itsproduct line. It sponsors certain shows on air, events for all radio listeners etc. Apart from this, Maruti Suzuki Ltd. has also partnered with certain TVshows like “India’s Got Talent” and also provides sponsorships to certain famous events to make its presence felt. The company is also involved incertain CSR activities mostly around its manufacturing units to make people grow with the company. This all helps in creating a visibility andgoodwill for the company for the non­existing customers and hence, increasing the sales. There are strategic alliances that Maruti Suzuki Ltd. hasentered into with many banks, insurance firms to provide its customers with financing and insurance products for making the process of purchase ofcar easier for them. Maruti Suzuki also provides its customers with a “Auto Card”. This is a loyalty program introduced by the company to retain thecustomers and to increase the company’s brand loyalty. Under this program, every new customer gets initial brownie points equal to 100 points onpurchase of a car. Afterwards, on every purchase of Rs. 100 for any Maruti Suzuki product (including car­servicing), customers earn 3 points.Moreover, they can earn 3000 points when they upgrade from one Maruti Suzuki car to another Maruti Suzuki car. On referrals they can earn up to1000 points if the referral gets converted into a sale.16. 16 The Company also conducts mega camps where they provide AC and pollution checks, complimentary car wash to its customers to improvecustomer relations. Maruti Suzuki Ltd. also has an extensive CRM program to manage its relationships with customers. Apart from all this, thecompany also has various seasonal campaigns to target the audience like festival times to capture the celebration mood of people and convert it intosales. Festivals like Navratri, Diwali etc. are times when huge discounts or other gifts are offered by the company.17. 17 SEGMENTING, TARGETING AND POSITIONING: SEGMENTING: Based on the economic strata the Indian automobile consumersegment is divided in five categories: Economy (priced less than 3 lakhs) Mid Range (priced between 3­5 lakhs) Luxury (priced between 5­10lakhs) Premium (priced between 10­20 lakhs) Super Premium (priced above 20 lakhs) The economic segment caters to the need of the rural andthe semi urban population, whereas the mid range segment takes care to the needs of all three i.e. rural, semi urban and the urban population. Theluxury segment takes care of the semi urban and the urban population and as there are no cars of Maruti in the super premium segment so the needsof the affluent class is not fulfilled. TARGETING: Maruti is segmented also on the basis of income groups present in the country i.e. the peoplehaving an income of 3 lakhs per annum consider cars of economy range which are Alto and Omni. People falling in the income range of 3­5 lakhs perannum consider the mid range segment of Maruti cars which include A­Star, Swift and Ritz. The people with an income more than 5 lakhs per annummainly consider cars in luxury and premium segment of Maruti cars such as SX4, Swift Dzire etc. Maruti faces stiff competition from ChevroletBeat, Tata Indica, Fiat Punto and Hyundai I10 in the automobile sector. Maruti provides all the basic features which are required in a car by acustomer so it is clearly the market leader in the Indian automobile sector.18. 18 The following table shows us the comparison between the market share of Maruti Suzuki Ltd. compared with other automobile companies inIndia. Jan ­ June '14 Jan ­ June '13 Maruti Suzuki 46.27% 43.83% Hyundai 16.92% 15.60% Mahindra 9.28% 10.76% Honda Cars 7.29% 4.02%Toyota 4.94% 5.98% Tata Motors 4.86% 5.75% Ford 3.25% 2.45% Chevrolet 2.70% 3.71% Others Combined (Skoda, VW, Renault, Nissan, Fiat)4.49% 7.91%19. 19 POSITIONING: There are various taglines associated with different Maruti cars which signifies the uniqueness of each car on its own, like thetagline for Alto was “Let’s Go In An Alto”, for Swift it was “You Are The Fuel” and for SX4 it was “Men Are Back”. These taglines completelyassociate all these cars. REPOSITIONING: Since the demand of the Indian consumer has risen and also a stiff competition faced by Maruti in the carsegment has forced Maruti to reposition some of its product and also to discontinue some products which were not making profits. Omni has been

given a major facelift in terms of interiors and exteriors and the new version called Omni Cargo was launched in the market for the people whowanted a car to travel and also carry the cargo carried by them. Wagon­ R was perceived as dull boxy car when it was lunched. Then furthermodifications were made in engine to increase performance and a facelift in the form of sporty looking grills on the roof. Now it’s of the mostsuccessful models in Maruti. The production of Zen was stopped as the demand for a product which involved recent technology was required. Hencethe new Zen Estillo was launched into the market. The most important result of the research of Maruti Suzuki was the innovation of the K­ Seriesengines. The company’s next generation, K­ Series engines employ a plethora of state­of­the­art technologies to deliver on all these fronts. Theseengines were said to be leaner, meaner and thinner than the rest of the engines used by the other companies. These engines were more fuel efficientand swifter than the engines which Maruti Suzuki earlier used. PHASING OUT OF CERTAIN MODELS: Maruti Suzuki’s first sedan Esteem(formerly called Maruti 1000) was phased out slowly due to availability of other cars with better features at the same price from its competitorsstable. It was soon replaced by Swift Dzire to gain back the lost market share. The production of Baleno was stopped in 2011 to make way for a newmodel as part of the company’s strategy to bring new models to the market.20. 20 PORTER’S FIVE FORCE MODEL FOR MARUTI SUZUKI LTD.: Michael Porter identified five forces that determined the long runattractiveness of a business. The following is the analysis of Porter’s five forces in context of Maruti Suzuki Ltd.21. 21 THREAT OF NEW ENTRANTS: INCREASING Although most of the major global players are present in the Indian market, few more areexpected to enter due to the welcoming government policies. THREAT OF SUBSTITUTE: LOW TO MEDIUM Maruti Suzuki faces threat fromconsumers shifting to hybrid or electric cars. Currently, the electric car market in India is dominated by sole player Reva Electric Car Company.However brands like Tata Motors, Chevrolet and Nissan are also planning to launch their electric car in the future. BARGAINING POWER OFSUPPLIER: LOW Automakers are the key to the supply chain of the automotive industry. Maruti Suzuki has manufacturing units where engines aremanufactured and parts supplied by first tier suppliers and second tier suppliers are assembled. There are a large number of automobile componentssuppliers whose switching cost are very high. Thus reducing the bargaining power of the suppliers. COMPETITIVE RIVALRY: HIGH Competitionin certain segments is very high e.g. small and mid car segment. Brands like Hyundai, Chevrolet, Tata and Skoda have given huge competition toMaruti Suzuki. In the recent past Volkswagon, Honda, Ford have also given competition to the premium car segment. BARGAINING POWER OFCONSUMERS: HIGH Increase in consumer awareness and increasing competition has forced Maruti to either reduce the prices of its cars or provideextra services to the consumers at the same rate22. 22 THREE GENERIC STRATEGIES: To cope up with the five competitive forces there are Three Generic Strategies Maruti Suzuki Ltd. hasapplied. 1. To Achieve Cost Leadership: To realize economies of scale capital investment in state­ of­the­art equipment plant is required. MarutiSuzuki has set up two such manufacturing facilities in India. Gurgaon Facility (300 acres) housing the ‘K’ engine plant Manesar Facility (600acres) 2. Differentiation: Maruti has created a difference in the market by providing the consumers with quality fuel efficient cars at affordable prices.It has also differentiated itself from other companies by providing excellent after sale service at various service centers across the country. 3. Focus:Focus is the moderator between cost leadership and differentiation. Cost Focus: Maruti has tried to offer a low price product to a small andspecialized group of buyers. This has helped Maruti to cut down prices just hours before Tata introduced Indica. Differentiation Focus: Maruti hasa niche of premium products available at a premium price. Maruti Kizashi and Maruti Vitara provides the possibility to charge a premium price forsuperior quality. COST LEADERSHIP DIFFERENTIATION FOCUS23. 23 SWOT ANALYSIS: STRENGTHS: 1. Bigger name in the market 2. Established distribution and after sales network 3. Understanding of theIndian market 4. Ability to design product with differentiating features 5. Brand image 6. Experience and know­how in technology 7. Trust of people8. Maruti Suzuki is the market leader for more than a decade24. 24 9. Has a great dealership chain in the market 10. Better after sale service 11. Low maintenance cost of vehicle WEAKNESS: 1. Lack ofexperience in foreign market 2. Comparatively new to electric or hybrid cars 3. People resistant to upper segment models 4. Heavy import tariff onfully built imported models 5. Exports are low 6. Lesser diesel models in the market compared to others 7. Global image not big OPPURTUNITIES:1. Increased purchasing power of Indian middle class family 2. Government subsidies 3. Tax benefits 4. Prospective buyers from two wheelersegment 5. Great opportunities to global with success of Swift and SX4 6. Introduction of more diesel models 7. Opportunity to grow bigger byentering into bigger car markets 8. Already a market leader which provides the opportunity to be at the top of the market in every stage of industry.25. 25 THREATS: 1. Foreign companies entering market, so a bigger threat from MNCs 2. Competition from second hand cars 3. Threats fromChinese manufacturers 4. Threat to market share as many big names are entering the industry 5. Lower number of diesel models 6. Lower costcompetitors like Tata Nano26. 26 BCG MATRIX: The BCG (Boston Consulting Group) model is a well known portfolio management tool used in product life cycle theory.BCG matrix is often used to prioritize which product within the company’s product mix gets more funding and attention. The Stars is the scenariowhere there is the optimum situation of high growth and high share, this method requires an increased investment due to the continuous growth.Maruti Suzuki Zen and Swift are in this scenario. The Cash Cow cycle deals with low growth and high share. This scenario requires a low investmentand growth is also slow. Wagon R and Alto are under this scenario. The Dogs method is the situation where the growth is low and the market share islow, this is one of the worst situations. In this situation if the products are not delivering the cash then it is best to liquidate. Omni and Versa belongto this segment. The last part of the cycle is the Question Mark which is high market growth but low shares. In this situation there is a high demandbut low returns. It is best to try and increase market share or get it to deliver cash. SX4 and A Star belong to this scenario.27. 27 PRODUCT LIFE CYCLE: INTRODUCTION STAGE: For cars like Alto K10 and Kizashi market share is slight but marketing costs are highGROWTH STAGE: Swift Dzire, Zen Estillo and SX4 are characterized by rapid growth in sales and profit MATURITY STAGE: In case of Alto,Wagon R and Swift competition is intense and any significant move is likely to be copied by competitors. DECLINE STAGE: Market for Omni andGypsy is shrinking, thus reducing the overall profit.28. 28 RATIO ANALYSIS: MEANING:­ Absolute figures expressed in financial statements by themselves are meaningfulness. These figures oftendo not convey much meaning unless expressed in relation to other figures. Thus, it can be say that the relationship between two figures, expressed inarithmetical terms is called a ratio. TYPES OF RATIOS:­ Proportion or Pure Ratio or Simple ratio. Rate or so many Times. Percentage Fraction. OBJECTS AND ADVANTAGES OR USES OF RATIO ANALYSIS:­ Ratios are worked out to analyze the following aspects of businessorganization­ Solvency­ 1. Long term 2. Short term 3. Immediate Stability Profitability Operational efficiency Credit standing Structural analysis Effective utilization of resources Leverage or external financing LIMITATION OF RATIO ANALYSIS:­ Falseaccounting data gives false ratios Comparisons not possible of different firms adopt different accounting policies. Ratio analysis becomes lesseffective due to price level change29. 29 Ratios may be misleading in the absence of absolute data. Limited use of a single Ratio. Window­Dressing Lack of properstandards. Ratio alone are not adequate for proper conclusions Effect of personal ability and bias of the analyst. CLASSIFICATION OFRATIOS:­ BASED ON FINANCIAL STATEMENT:­ Accounting ratios express the relationship between figures taken from financial statements.Figures may be taken from Balance Sheet, P& P A/C, or both. One­way of classification of ratios is based upon the sources from which are taken. 1]Balance sheet ratio: If the ratios are based on the figures of balance sheet, they are called Balance Sheet Ratios. E.g. Ratio of current assets to currentliabilities or Debt to equity ratio. While calculating these ratios, there is no need to refer to the Revenue statement. These ratios study the relationshipbetween the assets & the liabilities, of the concern. These ratios help to judge the liquidity, solvency & capital structure of the concern. Balance sheetratios are Current ratio, Liquid ratio, and Proprietary ratio, Capital gearing ratio, Debt equity ratio, and Stock working capital ratio. 2] Revenue ratio:Ratio based on the figures from the revenue statement is called revenue statement ratios. These ratios study the relationship between the profitability& the sales of the concern. Revenue ratios are Gross profit ratio, Operating ratio, Expense ratio, Net profit ratio, Net operating profit ratio, Stock

turnover ratio.30. 30 3] Composite ratio: These ratios indicate the relationship between two items, of which one is found in the balance sheet & other in revenuestatement. There are two types of composite ratios­ a) Some composite ratios study the relationship between the profits & the investments of theconcern. E.g. return on capital employed, return on proprietors fund, return on equity capital etc. b) Other composite ratios e.g. debtors turnoverratios, creditors turnover ratios, dividend payout ratios, & debt service ratios. BASED ON FUNCTION:­ Accounting ratios can also be classifiedaccording to their functions in to liquidity ratios, leverage ratios, activity ratios, profitability ratios & turnover ratios. 1] Liquidity ratios: It shows therelationship between the current assets & current liabilities of the concern e.g. liquid ratios & current ratios. 2] Leverage ratios: It shows therelationship between proprietors funds & debts used in financing the assets of the concern e.g. capital gearing ratios, debt equity ratios, & Proprietaryratios. 3] Activity ratios: It shows relationship between the sales & the assets. It is also known as Turnover ratios & productivity ratios e.g. stockturnover ratios, debtors’ turnover ratios.31. 31 4] Profitability ratios: a) It shows the relationship between profits & sales e.g. operating ratios, gross profit ratios, operating net profit ratios,expenses ratios b) It shows the relationship between profit & investment e.g. return on investment, return on equity capital. 5] Coverage ratios: Itshows the relationship between the profit on the one hand & the claims of the outsiders to be paid out of such profit e.g. dividend payout ratios &debt service ratios. Based on User: 1] Ratios for short­term creditors: Current ratios, liquid ratios, stock working capital ratios 2] Ratios for theshareholders: Return on proprietors fund, return on equity capital 3] Ratios for management: Return on capital employed, turnover ratios, operatingratios, expenses ratios 4] Ratios for long­term creditors: Debt equity ratios, return on capital employed, proprietor ratios.32. 32 RATIO ANALYSIS OF MARUTI SUZUKI LTD. PER SHARE RATIOS Adjusted EPS (Rs.) 92.13 Adjusted Cash EPS (Rs.) 161.13Reported EPS (Rs.) 92.13 Reported Cash EPS (Rs.) 161.13 Dividend Per Share 12.00 Operating Profit Per Share (Rs.) 168.69 Book Value (Excl RevRes) Per Share (Rs.) 694.45 Book Value (Incl. Rev Res) Per Share (Rs.) 694.45 Net Operating Income Per Share (Rs.) 1446.66 Free Reserves PerShare (Rs.) 0 PROFITABILITY RATIOS Operating Margin (%) 11.66 Gross Profit Margin (%) 6.89 Net Profit Margin (%) 6.25 Adjusted CashMargin (%) 10.93 Adjusted Return On Net Worth (%) 13.26 Reported Return On Net Worth (%) 13.26 Return On long Term Funds (%) 17.88LEVERAGE RATIOS Long Term Debt / Equity 0.0233. 33 Total Debt/Equity 0.08 Owners fund as % of total Source 92.56 Fixed Assets Turnover Ratio 2.05 LIQUIDITY RATIOS Current Ratio 0.88Current Ratio (Inc. ST Loans) 0.77 Quick Ratio 0.67 Inventory Turnover Ratio 25.62 PAYOUT RATIOS Dividend payout Ratio (Net Profit) 13.02Dividend payout Ratio (Cash Profit) 7.44 Earning Retention Ratio 86.98 Cash Earnings Retention Ratio 92.56 COVERAGE RATIOS Adjusted CashFlow Time Total Debt 0.34 Financial Charges Coverage Ratio 33.65 Fin. Charges Cov. Ratio (Post Tax) 28.67 COMPONENT RATIOS MaterialCost Component(% earnings) 72.06 Selling Cost Component 0 Exports as percent of Total Sales 9.47 Import Comp. in Raw Mat. Consumed 9.1934. 34 Long term assets / Total Assets 0.76 Bonus Component In Equity Capital (%) 0 COMMENTSON RATIOS:­ Return on Assets stood at9.7% for FY’14 which is same as of FY’13. Profit before tax (PBT) was Rs. 36,585 million against Rs. 29,910 million showing an increase of 22per cent and Profit after tax (PAT) stood at Rs.27,830 million against Rs. 23,921 million in the previous year showing an increase of 16 per cent. Consolidated Operating profit margin improved to 11.79% in FY’14 from 9.9% in FY’13 Return on Net worth stood at 13.26% for Mar’14 asagainst 12.87 for Mar’13 Current ratio has decreased to 0.92 in FY’14 from 1.47 in FY’13. Inventory Turnover ratio has increased from 25.83 inFY’13 to 30.61 in FY’14 Debtors Turnover ratio has decreased to 33.7 from 43.66 on year on year basis in FY’14 Earnings Per Share wasRs.92.13 in Mar’14 and Rs.79.19 in FY ended Mach’13. Book Value per Share improved to Rs 694.45 in March’14 as against Rs.615.03 inMarch’13. Book value of Share is consistently increasing over Years . YEAR ON YEAR COMPARISON OF RATIOS: 1. Asset Turnover Ratio:35. 35 2. Return on Capital Employed: 3. Current Ratio: 0 2 4 6 8 10 12 14 16 18 March '14 March '13 March '12 March '11 March '1036. 36 4. Quick Ratio: 5. Dividend Pay Out Ratio: 0 2 4 6 8 10 12 14 16 18 March '14 March '13 March '12 March '11 March '10 0 2 4 6 8 10 12 1416 18 March '14 March '13 March '12 March '11 March '1037. 37 CONCLUSION: Automobile market today is very dynamic & competitive with a range of players and products. There are many reasons forthe impressive growth of the Indian passenger car Industry. Some of these are easy availability of vehicle finance, attractive rate of interest andconvenient installments. In today‘s cutthroat competition it is very difficult to survive. Stiff competition has forced manufacturers to be innovativeand responsive to customer demands and needs. Maruti Suzuki India Limited is a leading company in Indian Automobile sector which occupiesprominent place due to its innovative strategic marketing, promotional, Brand positioning, advertising strategies. In today‘s scenario the success ofcompany lies in structuring and restructuring the marketing strategies and continuous innovation of product and services. The Maruti Suzuki has ahuge market and has left no stone unturned to satisfy the customers. It has models in every segment of the automobile market. Maruti Suzuki standsfor value as much as it stands for performance. In spite of rising input costs, the company tries their best to keep prices down. Their running costs andresale values are unbeatable too. Competitive strategy of this company facilitated healthy profit and customer satisfaction and its recognition as acompany which stands for environmental concerns.38. 38 BIBLIOGRAPHY: 1. Marketing Strategy of Maruti Suzuki Ltd. ­ International Journal of Application or Innovation in Engineering &Management. 2. Annual Report of Maruti Suzuki Ltd. 3. www.marutisuzuki.com 4. www.wikipedia.com 5. www.carwale.com

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