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| A Study of Marketing Strategies Being Followed in Automobile Industry with Reference to 16th Auto Expo 2023 in New Delhi | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Paper Id :
17393 Submission Date :
2023-03-20 Acceptance Date :
2023-04-15 Publication Date :
2023-04-25
This is an open-access research paper/article distributed under the terms of the Creative Commons Attribution 4.0 International, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited. For verification of this paper, please visit on
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| Abstract |
Purpose: This study analyzes current status of 16th auto expo 2023, the marketing mix being followed in auto expo 2023 in Indian automobile industry with the purpose of making suitable recommendations to ACMA, CII and SIAM as organizer of the show so that they can improve the visitor’s footfall and enhance the image of the show in the market.
Design/Methodology/Approach: This study uses secondary data and primary data collection techniques from subjective interviews of Industry expert along with the data obtained from various secondary sources such as newspapers, websites and others.
Findings: Based upon the analysis of the 16th edition of auto expo 2023 in New Delhi, a revised product mix, price mix, place mix and promotion mix has been designed for ACMA, CII and SIAM as organizers of the show, so that they can gain an added advantage for the forthcoming or next edition of auto expo in Indian Automobile Industry.
Practical Implications: This study provides insights into marketing mix for several stakeholders involved in exhibition industry be it exhibitors, visitors, organizers, co-organizers, official participants, vendors or general public at large. With the help of this revised marketing mix, everyone in the value delivery network would be able to gain some benefits out of it.
Originality/Value: It contributes to the extant literature on exhibitions in automobile industry while investing the product mix, price mix, place mix and promotion mix.
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| Keywords | Automobile Industry, tradeshows, trade fairs, exhibitions, marketing mix, product mix, price mix, place mix and promotion mix decisions, auto expo, ACMA, SIAM, CII. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Introduction |
Marketing Practices in 16th auto expo 2023:
Marketing is defined as the process of providing customer value and customer satisfaction, thereby making relationship with the customers to achieve their advocacy and improve scaling in business. Marketing mix includes product, price, place and promotion related decisions that would help you improve your market position so that you gain leadership status in comparison to your competitors. Marketing also encompasses basic concepts such as need, want, demand, product, service, customers, market and business environment followed by logistics and supply chain management practices (Kotler & Armstrong, 2008; Kotler & Armstrong, 2001; Kotler & Keller, 2007; Kotler, 2002; Kazmi, 2007; Belch, Belch & Purani, 2010, Kumar & Kumar, 2015).
Exhibition is a platform to deliver and exchange business and consumer information in accordance with their needs (Xiaoming, 2012; Kazmi & Batra 2009). (Gaur & Saggere, 2009; Karunakaran, 2009) defines Exhibitions as display of products and services at a location that can provide enough market coverage and accommodate different participants involved in the respective show. Brieter & Milman (2006) describe Exhibitions and trade shows are synonymously used with the basic meaning of displaying and demonstrating of products and services based on the theme of the show.
The focus of the researcher through this study is to provide product, price, place and promotion related decisions followed in 16th auto expo 2023 and provide necessary recommendations to the organizer of the show for next edition of auto expo in Indian automobile industry. Therefore, researcher is trying to draw our attention on the marketing strategies being followed in automobile industry. These strategies will not only improve the visitor’s footfall in terms of attending next edition of auto expo for them but also helps the organizer of the show to know what else can be done to ensure value addition for the stakeholder.
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| Objective of study | The main objective of the research was to determine A Study of Marketing Strategies being followed in automobile industry – A case study of 16th Auto Expo 2023 in New Delhi along with other objectives which are mentioned below:
1) To analyze the current status of 16th auto expo 2023 in Indian automobile industry
2) To analyze product, price, place and promotion related strategies followed in 16th Auto Expo 2023 in Indian automobile industry.
3) To recommend necessary strategies to the ACMA, CII and SIAM as organizers of the show to improve its image for next edition of auto expo in Indian automobile industry.
The above objectives have been achieved based upon the study of retrospect auto expo 2020, website analysis of the auto expo 2023, interview with industry expert to understand the marketing mix practices followed in Indian automobile industry, which was a combination of product, price, place and promotion decisions, which are mentioned as below: |
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| Review of Literature | Automotive
industry in India: Current status The India passenger car market was valued at US$ 32.70 billion in 2021, and it is expected to reach a value of US$ 54.84 billion by 2027, while registering a CAGR of over 9% from 2022-27. Indian automotive industry contributes almost 6.4 percent of India’s GDP and 35 percent of manufacturing GDP and is a leading employment provider. Market Size: 22.65 million vehicles (Financial year 21), FDI equity inflow: 30.78 billion US$ (April 2000 – September 2021) accounting for 5.49 percent of total equity FDI during that period. Indian automotive industry is targeting to increase export of vehicles by five times during 2016-26. In FY22, total automobile exports from India stood at 5,617,246.
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| Main Text |
Product
Decisions Followed In 16th Auto Expo 2023: Product mix
means covering length, width and depth of solutions offered by the organization
along with branding, product launches and other dimensions of product. Based
upon the analysis of the auto expo 2023, the following facts were observed: Product
launches during the show, designing the venue, providing physical environment,
infrastructure, and technology for making deals and developing relationships to
several participants of the show. The various achievements being observed in 16th auto
expo as per the researcher includes:
Source:
Secondary Data – Newsletter of Auto Expo Price
Decisions Followed in 16th Auto Expo 2023: It is important
to plan sales, marketing and branding activities effectively to get the most of
your investment at auto expo 2023. The various components and their pricing
description being followed in 16th auto expo are as follows: Source:
Secondary Data: Research based table Place Decisions
Followed in 16th Auto Expo 2023: Place decisions means providing venue details and guiding how to reach the venue and participate in different activities of the program with the help of team involved coordination of several activities. The place mix or decisions followed in 16th auto expo 2023 being observed by the researcher are as follows:
Source:
Secondary Data – Calendar issued by organizer Promotion
Decisions Followed in 16th Auto ExpO 2023: Promotion mix means providing sponsorship opportunities, media partnerships, using media channels, digital channels and other PR decisions to promote the show with the objective of improving footfall so that the exhibitors may gain added value through their participation in the show. The promotion mix or decisions followed in 16th auto expo as observed by the researcher includes:
Source: Secondary Data: Research based table |
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| Methodology | The present study is subjective and qualitative in nature using questionnaire which was discussed with the industry experts in an open ended enviornment. Secondary data sources have also been used which makes it a hybrid research design . The main source of information is review and analysis of the published data which is collected from various sources such as magazines, newspapers, books, articles, dissertations, websites and research papers from different journals. The interview with industry expert as a method is used; to collect, interpret the related information and providing strategies for further growth.
SCOPE AND RELEVANCE OF THE STUDY:
Scope of the study
The present study entitled “A Study of Marketing Strategies being followed in automobile industry – A case study of 16th Auto Expo 2023” is very important looking at the fast changing scenario of Indian automobile industry. The study has covered the marketing practices including product, price, place and promotion practices involved in auto expo 2023.
Relevance of the study:
As a researcher, it has been observed that very little work has been done to study the strategies being followed in auto expo 2023 with the objective in making recommendation to ACMA, CII and SIAM. A Study of Marketing Strategies being followed in automobile industry – A case study of 16th Auto Expo 2023 as a title has been comparatively less explored and requires further extension of work in terms of understanding the product, price, place and promotion practiced in auto expo 2023 in Indian automobile industry. This study would prove to be a helping hand for the exhibition organizers, associations, councils, co organizers, and service marketing managers to understand marketing strategies for building relationship with the participants of next edition of auto expo in Indian Automobile Industry. |
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| Result and Discussion |
Suggested
Strategies For Organizers of Auto Expo Next Edition: Based on the
above mentioned objectives of marketing mix, this study suggests
several practices for show organizers of auto expo in Automobile industry.
Therefore, these suggestions need to be dealt properly to ensure the success of
the show. These major suggestions as per the researcher to improve visitor’s
footfall are mentioned, as below:
Source: Primary
Data |
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| Findings | Based upon the analysis of the 16th edition of auto expo 2023 in New Delhi, a revised product mix, price mix, place mix and promotion mix has been designed for ACMA, CII and SIAM as organizers of the show, so that they can gain an added advantage for the forthcoming or next edition of auto expo in Indian Automobile Industry. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Conclusion |
Auto expo in automobile industry is the most desired show which is in demand and there are lots of visitors who are excited to visit this show for multiple reasons such as: a) display of new vehicles b) demonstration of new product launches c) international participation from different countries coming up multiple brands d) eco system or participation of different stakeholders involved in the automobile industry. Therefore, based upon the popularity of the show, the researcher selected to Study of Marketing Strategies being followed in automobile industry – A case study of 16th Auto Expo 2023 in New Delhi. Thus, the researcher has made an attempt to study apart from primary objective mentioned above along with several sub objectives such as: 1) To analyze the current status of 16th auto expo 2023 in Indian automobile industry 2) To analyze product, price, place and promotion related strategies followed in 16th Auto Expo 2023 in Indian automobile industry 3) To recommend necessary strategies to the ACMA, CII and SIAM as organizers of the show to improve its image for next edition of auto expo in Indian automobile industry. |
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| Suggestions for the future Study | There was a lot of scope to research on different topics in the same domain or topics from different industries to improve the success of exhibitions, which includes: 1. Study of marketing mix being followed in India international jewellery show –A case of IIJS in Mumbai 2. Study of service mix being followed in auto expo 2023 in automobile industry 3. Study of service mix being followed in India international jewellery show 4. Study of perception of exhibitors towards auto expo 2023 5. Study of perception of visitors towards auto expo 2023 6. Study of digital marketing strategies being followed in auto expo 2023 |
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| Limitation of the Study | The limitations were mostly related data collection methodologies as researcher has majorly used secondary resources instead of taking primary resources. There was only one exhibition taken into consideration instead of selecting multiple exhibitions. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| References | 1. Automotive Industry in India. Retrieved February 27, 2023 from https://www.autoexpo.in/components-show/automobiles.aspx.
2. Automotive Industry in India. Retrieved February 27, 2023 from https://www.ibef.org/industry/india-automobiles/showcase.
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14. Kumar, R. & Kumar, V. (2015). Marketing practices followed in exhibition industry: An Indian perspective. Remarking, 2 (6), 10 - 16.
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16. Kumar, V. & Kumar, R. (2015). Managing organizations of tomorrow by capitalizing generation NEXT, (Nath, V., Gera, N., Kumar, A., Bawa, D. S. & Tiwari, T., Ed.). New Delhi: Bharti Publications, 1, 389 - 405. |
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