Tata Motors is all set to launch its electric car Tata CURVV. It has decided a price range of approx. ₹15.00 – ₹ 20.00 Lakh with an automatic transmission. Based on the above information, as a marketing consultant, suggest a suitable segmentation plan for the newly launched brand (suggest a suitable type of segmentation with appropriate justification). Based on the type of segmentation, suggest an appropriate Positioning strategy with justification.
As a marketing consultant, I would suggest that Tata Motors use psychographic segmentation to target potential customers for their new electric car, Tata CURVV. Psychographic segmentation divides customers into groups based on their personality traits, lifestyles, values, attitudes, and interests. This type of segmentation is particularly suitable for a product like an electric car, which may appeal to certain customers with specific values and lifestyles.
Justification:
Psychographic segmentation is a suitable type of segmentation for Tata CURVV as it is an electric car with an automatic transmission and a price range of ₹15.00 – ₹ 20.00 Lakh. Customers who are environmentally conscious and value sustainability may be interested in purchasing an electric car. Psychographic segmentation would allow Tata Motors to identify and target customers who value sustainability and are interested in electric cars, making their marketing efforts more effective.
Positioning strategy:
To position Tata CURVV in the market, Tata Motors should use a differentiation strategy. A differentiation strategy involves creating a unique product or service that stands out from the competition. Tata CURVV can be positioned as an environmentally-friendly car with advanced technology and an affordable price, setting it apart from other electric cars in the market.
Justification:
Differentiation strategy is a suitable positioning strategy for Tata CURVV as it has features that set it apart from other electric cars in the market. The car is priced affordably, making it accessible to a larger market segment, and it has advanced technology that can appeal to customers who are looking for modern and innovative cars. By positioning Tata CURVV as a unique and innovative electric car, Tata Motors can differentiate itself from the competition and attract customers who are interested in electric cars but are not willing to pay high prices for them.
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