A leading mass market car manufacturer in India wanted to introduce its luxury car in India. Ipsos Business Consulting assessed the market potential for the luxury car and devised a go-to-market strategy for the client.
The client is the largest passenger car exporter and one of the largest car manufacturers in India, with approximately 500 dealers across India.
The client wanted to tap the lucrative Indian luxury car market by launching its own luxury car model, which had been successful worldwide. The client wanted to assess the luxury car market dynamics and target customer segment, understand the Indian consumer mindset, and understand the business potential for its product.
We used a two-stage approach to understand the market dynamics and consumer buying criteria in India and to study the market and develop a holistic view of the market.
In the first stage, Ipsos Business Consulting analyzed the market dynamics and measured the market potential in the luxury car segment. The team analyzed the competition presence and offerings, product price positioning, dealership structure, new initiatives, and plans to estimate the addressable market for the client.
In the second stage, we developed an understanding of luxury car consumer perspectives and expectations. We mapped consumer perceptions of the client's brand and of the product and the expectations of the consumer. Thus, we assessed the acceptability of the client's brand and product in the luxury car segment.
Insights gathered during the first stage enabled us to understand the market challenges and market potential, while the second stage allowed us to understand customer needs, buying criteria, brand acceptance, and pricing expectations.
Based on the product acceptability and the market potential analysis, Ipsos Business Consulting devised a go-to-market strategy. Based on our recommendations, the client is working on strengthening its product portfolio in the premium segment and developing an aspirational brand image before entering the luxury car segment.