Bajaj has been looking to make a mark in the entry level motorcycle market, but without much luck. However, the company now plans to launch two new brands in 2015 to grab a share in the segment. Incidentally, the company is planning to grab two-thirds of the motorcycle market in the year 2015. This can be direct implication of the stiff competition between the two giant names in the industry, Hero MotoCorp and Honda Motorcycle and Honda Scooter India Private Limited. Right after the split between the two names, there has been a stiff competition among the two companies.
Rajiv Bajaj, the Managing Director of Bajaj Auto, “Strategy is always a matter of adapting oneself to the changes in the market place. While company’s strategy cannot change very six months, it is necessary for the firm to evolve the strategy on five or 10-year basis. So, in that context, we are planning to launch two new brands this year. While company’s strategy cannot change very six months, it is necessary for the firm to evolve the strategy on five or 10-year basis. So, in that context, we are planning to launch two new brands this year.”
The company will also launch new variants of existing models in the country, which will take the share of the brand to new heights. Incidentally, Bajaj has hopes to take its share to 24 per cent. Speaking about the errors in the past, a company official said, “Bajaj has made a few strategic mistakes. Nothing else explains such a drastic fall in market share. It has been introducing newer generation and variants of models far too early in its life-cycle. The positioning has confused buyers and has often cannibalised the sales of the existing models.”
