The document outlines an approach to analyze the MG Hector SUV and its competitors. It involves gathering data on features of comparable models from review sites, identifying important customer attributes, administering a survey to understand preferences, analyzing responses to develop customer profiles and market clusters, and determining advertising strategies tailored to different clusters over a one-year period. Budgets are prepared based on price quotes from various vendors.
The document outlines an approach to analyze the MG Hector SUV and its competitors. It involves gathering data on features of comparable models from review sites, identifying important customer attributes, administering a survey to understand preferences, analyzing responses to develop customer profiles and market clusters, and determining advertising strategies tailored to different clusters over a one-year period. Budgets are prepared based on price quotes from various vendors.
The document outlines an approach to analyze the MG Hector SUV and its competitors. It involves gathering data on features of comparable models from review sites, identifying important customer attributes, administering a survey to understand preferences, analyzing responses to develop customer profiles and market clusters, and determining advertising strategies tailored to different clusters over a one-year period. Budgets are prepared based on price quotes from various vendors.
MG Hector is a premium car in the SUV models launched as an ‘Internet car’.
The various competitors’ car models for MG Hector are studied: KIA Seltos, Tata Harrier, Hyundai Creta, Jeep Compass, Mahindra XUV500, Nissan Kicks, Renault Duster and Renault Captur. The different features (both positives and negatives) that stood out in these cars are gathered from different car review websites and blogs. (e.g. Team-BHP, Autocar etc.) The main attributes that contribute to the interests of customers and the car built that relate closely to the purchasing behaviour of the customers are listed out. The demographics of the individuals are given less preference except for the income level and age. Questions related to the preferences and models of customers already possessing a car were included to gain more insights of the satisfaction levels, the brands and new variants these customers are looking for in the new purchases if any. A questionnaire was prepared to gauge the awareness and interests of the customers in the target segment. Ranking and preference questions are posed to understand the priority details with respect to the different car features and variants. The priorities of the segment with respect to the various competitors’ car models and brands are also taken into consideration while designing the survey. The survey is floated with different contacts looking for potential respondents to garner their perspectives. The responses are analysed for further recommendations and appropriate market strategies. The important varying attributes are grouped for clustering Customer profiling is done based on the responses received and can also be sorted into age groups (sub-grouping) because of the varying interests in the features of car models. The divisions are made based on industries and type of buyers present in the corresponding cluster areas. We tried clustering in Tableau to group the target market into different clusters. Once the cluster map is ready, the decision of the ATL/BTL market strategies is prepared according to the different clusters obtained. The different marketing campaigns (Social media, Online/telephone, advertising, local marketing) have to be designed with the relevance of the target audience (Need- based, Discount based purchaser, Willingness to pay for premium features, Impulsive buyer and Wandering customers) in the clusters. The months in which the campaigns will be significant are marked by mentioning the proposals and types of campaigns in those months. The pricing quotes are procured by contacting the vendors with the set of desired advertisement models for different regions. Budgets are averaged by knowing the price quotes from different vendors for the same equipment or material and not dealing with the higher quoted price vendors. The final budget is prepared for different clusters and regions in different months and collectively for the period of one year.