With an aim to turn round the passenger car business of Tata Motors, Mr Pareek is well aware of the problems the company is facing. After careful examination, Mr Pareek has a plan, and is very excited to execute the same. He knows results will take time to show, but he is sure that Tata Motors will be amongst the top 3 car manufacturers in India (currently they are sixth).
He now plans on connecting with youth, will focus on rural expansion and will adopt segmented marketing strategies to achieve his aim. These three will be their main focus areas, apart from developing new and exciting cars.
With more than half of India’s population born after 1990, Tata Motors will develop cars which will attract the youth. The second pillar, penetrating rural markets. With about 70% of India’s population living in rural areas, focusing on developing their rural network will play a huge role in making Tata Motors’ one of the leading car makers in the country.
To develop new cars, Tata Motors has outlined HorizoNEXT strategy. Under this, all their future cars will be built focusing on three pillars – DriveNext, DesigNext, and ConnectNext. DriveNext will make sure the car is fun to drive and at the same time is economical, DesigNext will focus on making the car eye-catching and ConnectNext will take care of state of the art connectivity and infotainment features.
The first car to be launched under this strategy, was the Zest sedan, which was launched earlier this year. Now, Tata Motors is getting ready to launch the second car under the HorizoNEXT strategy in the form of Bolt hatchback.
Mr Pareek plans on getting to the pulse of youth by showcasing Tata Motors’ products at youth festivals, campuses and IT Parks. Dealerships across the length and breadth of the country will be enhanced and dealers will be instructed to adopt a more aggressive sales and marketing strategy to convince buyers.
via Economic Times