indian cycles limited

8/7/2019 INDIAN CYCLES LIMITED

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Indian cycles limited a quick

view of the scenario Introduction:

- Manufacturing of cycles and light

mopeds for last 20 years- Undisputed market of rs.600cr as a leader

- Reasons behind it are:

- Innovation

- Excellent dealer network of 2500 dealersacross the country


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the product

During 1980s , the company anticipated some changesin consumer needs due to-influx of multinational-up market people was getting more aware of physical

fitness-irregular working hours and lack of open spaces withlimited out door activities

So company gave a thought for the potential of healthequipment sector and launched

-power kit: stationery e.c with speedometer and stopwatch, different colures to choose from, adjustment inheight ,handle, cushioned paddles and handle

-exerflo: the machine helps in action on upper as well as

lower body, along wid the cycling action


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The market

Targeted : Mumbai, delhi,chandighar,Bangalore and Calcutta

Estimated a need of 15000 units permonth

There were competitors who offered theproducts for the same price of POWER KIT

Mkt was small and slow and companieshesitated to enter this sector


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The strategy

Huge marketing and promotion was planned with abudget of 70lakhs

The extensive publicity was planned for 4 monthstime

Stage no.1

-awareness

-interest- Change the attitude


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Mediums:-print ads in local medias

- Mobile fitness camps throughout the targeted areas- Live demonstrations- STAGE NO.2 :-print ads in leading dailies

-advocated the unisex usage of pdts-creating consciousness of bmi rating-quoting the advantages of staying fit


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Staying on top:

There was new entrants in the field with home basedgyms and all in one small gym etc.

-majesty was the main competitor

- Indian cycles went for further segmenting mktfor:- Businessmen- Working executives

- Teenz and young- House wifes- Despite competition, Indian cycles remained as a

mkt leader with a huge chunk of 35% share of mkt


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Q

QUESTIONS

What is the concept of buying motive?

What motives can different consumers of thisproduct have? Discuss the role of reference group in

consumer decision making?

What mediums can be used to target themarket of Housewives Business man


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Different customers and theirmotives

Businessmen: they dont usually get the time 4 exercises-so they go 4 machines which gives more effect with less timeWorking executives:-they face a problem of less time-they need to groom well physically to make a personal appeal

-stay fit and trimTeenz and young:-they are very conscious of staying in shape and being trim-most of them have, sports stars ,film stars and such celebrities who

are trim and fit , as their icons-impressing of opposite gender is the other priority among them-vibrant nature and enthusiasm

Housewives:-staying healthy-keeping up with ongoing trend of fitness-neighbor bought it. small case of prestige and ego


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Role of referencegrp in decisionmaking:

-reference grp rthose which serveas frames ofreference forpurchase decisionmaking of anindividual

There r1)friendship grp 2)

shopping grp 3)work grps 4)

virtual grp orcommunities 5)consumer action

grp


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-Most common influencing grpare:-Celebrities-Experts

-the common man-The employee spoke person

The trade spokes character-Family is always a main reference

grp in decision makingThe members of family assumedifferent roles in decision making:-influencers-gate keepers-deciders-buyers

-preparers-users-maintainers-disposers

Lifestyles ,roles and culturalfactors also influence family

decision making


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MEDIUMES USED IN TARGETING

-HOUSE WIVES- PRINT MEDIAS (MAGAZINES,

NEWSPAPERS)

-TELEVISIONS (ADVERTISEMENTS,OTHER PROMOTIONAL PROGRAMMES)-ON THE ROAD PROMOTIONS-WORD OF MOUTH

BUSINESSMEN-

BUSINESS MAGAZINES AND DAILIES-T.V COMMERCIALS-SALES MARKETING-

indian cycles limited

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