Both online and offline mediums are crucial for us: Vivek B Srivatsa, Tata Motors
After a muted festive season last year amid the COVID-19 pandemic, this year the willingness to spend is higher. As per a ZestMoney Survey, 72% of Indians plan to splurge on electronics & gadgets, while 59% prefer BNPL to fund festive purchases. 62% of the respondents revealed that festive budgets have gone up compared to last year. A recent market research by YouGov gives a big boost to the Diwali Expense Index, which is generally indicative of Q3 sales growth in India.
The Indian festive season is a crucial time as consumer demand is at its peak with many planning several small and big-ticket purchases. With increased vaccination and the general opening of the economy, the survey has witnessed a positive sentiment around budgets and shopping at physical stores, even as online shopping continues to be popular among people.
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As part of Adgully’s Festive Mood series, we have been covering the market, brand and consumer sentiments during the festive season this year. In conversation with Adgully, Vivek B Srivatsa, Head - Marketing, Passenger and Electric Vehicles Business Unit, Tata Motors, speaks about the company’s offline & online strategies, plans to capitalise on the festive fervour, the key trends seen this year and more.
What kind of online/ offline split is seen in brands marketing strategies?
Both online and offline mediums are crucial for us and we adopt a unified approach while planning our marketing strategies, which involves a good mix of both. A robust ATL strategy allows us to reach a wide network of people while digital serves as an important medium to establish a dialogue with our audiences and ensure an accelerated lead generation process.
What kind of campaigns and marketing strategies have you drawn up to engage with your consumers this year?
In a constant endeavour to make ownership of cars an easy process for a customers and adding to the celebrations of this festive season, we announced the launch of the Tata Motors #FinancEasy Festival, in collaboration with multiple finance partners across India. This collection of schemes available to our customers nationwide is different in many ways, in that we are not only working with the country’s leading banks and NBFCs, which in turn will offer their suites of products and a host of customised finance options to Tata car buyers, but we are also partnering with regionally strong financiers to cover hitherto unaddressed markets, to make our cars and SUVs accessible in more ways than one. Not to mention, the program covers our entire ICE and EV range of cars and SUVs. We are hopeful that as we get into the thick of the festive season, we would see many customers availing the benefits of the multiple schemes being offered under our #FinancEasy Festival.
Furthermore, this festive season also witnessed us continuing our long standing partnership with IPL. As associate sponsors, the Safari Gold was seen at the stadium where the game was being played. In addition to the above, we constantly work towards increasing the excitement in the Indian market by continuously refreshing our product portfolio with brand new products and variants. We kick-started our festive offerings with the launches of the Dark range and the Tiago NRG. We then launched the Tigor EV, electrifying the passenger EV segment and the XPREST EV for the fleet segment. This was soon followed by the Safari Gold and our latest offering in the SUV category, the Punch – India’s safest car. The Punch has not only been received by all very well, but has also received the highest number of bookings as compared to any product in our portfolio. With the same, we are sure to have a very wide appeal across consumer segments, which is also reflected in our market share of 11.3% and clear No. 3 rank in the industry.