This article has been contributed by Mr Adeeb Ahsan who is studying MBA at IIPM – Delhi and who joins the elite club of True marketers at marketing91.com.
IF others have hongkong and New York as costliest city then India too has costliest city like Mumbai and Delhi. We have world’s busiest stock exchange i.e. Bombay stock exchange with four thousand companies listed on it and with total market capitalization of more than eighty one trillion rupees. The Real-estate sector was making huge loss worldwide, but in India; without any package or bailout it was performing at least average – neither profit nor loss.
As per the Economic Times dated 23.05.2009, the prices of flats were continuously rising even at the recessionary period. In Delhi it went up by 30%, in Mumbai it went up by 17%, Bhopal 51% and Faridabad 21%. Indian economy was the only economy which was least affected by the 2008 recession. Telecommunication industry has brought revolution in India by introducing 3G services. AIRTEL paid the highest amount for 3G licenses worth rupees 12,300cr. In the Automobile sector India have all sorts of brand. Two years ago BMW entered into India and now she has overtaken MERCEDEZ BENZ. BMW managed to sell 270 units in 2009 but MERCEDEZ managed to sell only 170 units in 2009. Another car named NANO also gained attention at international level.
And now here comes BUGATTI VEYRON – starting price rupees 18cr only : Bugatti Veyron is the worlds costliest car in India, making India incredible in the sense that it now has both – the worlds costliest and cheapest cars. BUGATTI VEYRON is a “sports car” and fastest car with top speed of 407kmph and can race from 0-100kmph in only 2.7seconds. We know why people take up insurance policy? We know why people invest money? We know why people save money? BUT DO WE KNOW EXACTLY WHY OWNERS OF BUGATTI VEYRON CHOOSEN TO SELL HER CAR IN INDIA?
Here are some of the reasons for BUGATTI VEYRON to enter into Indian market:-
1. INCREASING NUMBERS OF BILLIONAIRES IN INDIA
The number of billionaire in India have increased in India dramatically. Shahrukh, Amitabh, sachin, M.S.dhoni, Ratan tata, Ambani brothers are renowned billionaire in India besides them there are many billionaire in India, who can easily access to these cars. Mumbai, Delhi, Chennai and Bangalore have huge numbers of billionaires.
2. SALES STRATEGY ADOPTED BY BMW AND MERCEDEZ
Both MERCEDES and BMW are expensive and luxury car. Two years ago BMW entered into India and now she has overtaken MERCEDES in terms of sale of her car. BMW managed to sell 270 units in 2009 while MERCEDES managed to sell only 170 units in 2009. Though BMW has overtaken MERCEDES, the strategy which was adopted brought down the brand image of BMW. In order to cover big share in the market, BMW introduced various models priced below 90 lakhs making it cheaper. These models priced below 90 lakhs have affected the image of BMW as luxury car while on the other hand MERCEDES in order to increase her customer base in the market, introduced the programme i.e. selling of second hand MERCEDES , which also affected her luxury brand image. Off course this strategy of selling have increased the consumer of both the brands but at the same time it has lead to creation of thought that both these brands can be of easy access to everyone and luxury cars cannot be easily given to everyone. Their sales strategy have given chance to BUGATTI VEYRON in the sense that this is a real swanky car and cannot be easily access to everyone but it will be in the door steps of billionaire in the real sense.
3. HUGE RICH BELT IN INDIA –
India has different cities which are very rich and peoples of these areas alone have more than 60cr properties. LUDHIANA is one of the richest belts in India. In south India there are many cities which are rich belt.
These are the reasons I think Bugatti Veyron has also entered in India and will be successful in achieving its sales figure with the increasing number of billionaires in India.