Market Research Analysis for the Launch of Electric Cars in India

The Indian automobile industry has come a very long way from a humble beginning to the present state where it is producing several thousands of cars every year. It is poised for a very attractive growth Almost all of the world’s leading automobile manufacturers have a significant presence in India. However despite all these, electric cars have not been very popular in India. Currently in India there is only a single automobile company ‘Mahindra Reva Electric Vehicle Company Limited’ which manufactures complete electric cars. Even with close to fifteen years of presence, the company has not been able to do good business. A host of automobile companies have lined up to launch their electric cars in the near future. This dissertation is intended towards carrying out a market research analysis for the launch of electric cars in India. It primarily focuses on understanding the problems associated with the selling of electric cars in India, identifying the most attractive market segments for electric cars and coming out with a positioning strategy. Various references are made to the literature particularly with regard to green consumer buying behaviour, segmentation and the various methods of segmentation available and positioning and the concepts related to it. Semi-structured in-depth interviews were carried out with a sample of potential customers of electric cars. The data was analysed and generalisations were drawn. The dissertation research was able to determine the various problems currently associated with the selling of electric cars in India. All the available methods of segmentation as identified from the literature were evaluated in order to determine the most suitable ones. It was possible to suggest the most attractive market segments. Different aspects of positioning were investigated and the research was able to come out with a positioning strategy. Based on the findings of the research, suitable recommendations are given which can aid the automobile manufacturers with their marketing efforts especially with regard to segmentation and positioning