Marketing Management-II Project Synopsis Reva: Success or Failure Submitted by Group 12 (PGDM-I ,Sec-A) Group Members Arijit Asiskumar Majumdar (U111010) Gaurav Kumar (U111021) Girija Shankar Mohanty (U111022) Karishma Prasad (U111025) Liti Ranjan Mohapatra (U111029) Introduction Reva was introduced in 2002. It was the first electric car manufactured in India. It was manufactured by Mahindra Reva Electric Vehicles Private Limited, formerly known as the Reva Electric Car Company involved in designing and manufacturing of compact electric vehicles.It is one of the first companies to introduce electric vehicles worldwide.
Reva is one of the largest electric vehicle fleets in the world. Market for plug-in hybrid and battery electric passenger cars is expected to grow at a compound annual growth rate (CAGR) of 106% between 2010 and 2015. Globally, there is a lot of research and development going on in the market. Reva is India's first no-pollution environment friendly car. Reva is available in three variants - Reva Standard, Reva AC, and Reva Classe.It was promoted as an environment friendly, low cost car.
It was targeted as a suitable car for small families, old couples and female drivers. Following is the customer value hierarchy for Reva:- * Core benefit: Takes you from one place to another without an inconvenience. * Basic product: Easy to drive, comfortable seats and leg room, high mileage. * Expected Product: Safety does not break down, easy to repair.
* Augmented Product: Speed, smooth on road, Stylish. * Potential Product: Environment friendly. Primary and Secondary dataReva’s service offering and performance feedback are to be assembled through interviews with all market participants like customers, suppliers and the dealers. The performance will then be analysed based on number of new customers, new segments and business expansion coupled with market growth. We will also be looking at the secondary data available to find out the measuring criteria like Revenue and market share growth, new market penetration, marketing, promotion and visibility through various media, technological innovation and leadership, increased in brand name recognition and improvement in customer satisfaction and loyalty levels.In this project, we will make an attempt to analyse if Reva is a success or a failure based on the following parameters.
* Needs Reva focused upon. * Features and Specifications of Reva * Marketing Strategy * Reva Performance in the Automobile Market * Reva's response to competition * Customers' response to Reva
