Marketing Mix of TVS Motors and 4Ps (Updated 2023)

The Marketing mix of TVS Motors analyses the 4Ps of TVS Motors, which includes the Product, Price, Place, and Promotion of TVS Motors. TVS Motors is India’s third largest automobile manufacturer, after Hero Moto Corp and Bajaj Auto. TVSAutoors belongs to the TVS group, which is $ 2.2 billion. It is the first company to produce indigenous mopeds and enter into 100 cc two-wheeler markets with Suzuki’s collaboration. The 19-year-old relationship with Suzuki was to engage in technology transfer and design suitable for the Indian market. In 2001, they had a strained relationship in continuing the joint venture, which led to a separation. The company achieved significant product development and market expansion milestones, reinforcing TVS Motor Company’s position in the competitive landscape.

About TVS Motors

• Type: Motorcycle and scooter manufacturer
• Industry: Automotive
• Founded: 1911
• Founder: T. V. Sundram Iyengar
• Headquarters: Chennai, Tamil Nadu, India
• Area served: Worldwide
• Key people: Venu Srinivasan (Chairman) and Sudarshan Venu (CEO)
• Number of employees: 60,000

TVS Motors Product Strategy

TVS Motors’ broad product categories include Domestic range, Three wheelers, and international range. TVS Motors is the only two-wheeler automobile that has penetrated all consumer segments. They have products like Apache ATR, which caters to the sports segment, TVS Super XL to rural, Scooty Pep to young and dynamic women, and Flame and Star City to working professionals. Hence, their product category meets the needs of rural to urban lifestyles. They also have a presence in three-wheeler segments. Recently, they launched TVS Jive, which is the first clutch-free bike. As a leading two-wheeler manufacturer, TVS Motor Company operates four manufacturing plants strategically located to optimize production and distribution efficiency.

The new Product Mix of TVS Motors in 2023 is as follows (Source).

1. Motorcycles: These are geared towards customers looking for daily commuting, sports biking, and more. Models vary from entry-level commuters to performance-oriented bikes. Examples include the TVS Apache series, TVS Raider, and TVS Sport.
2. Scooters: Aimed at urban commuters, these are popular for their ease of use and convenience. Models like the TVS Jupiter, TVS Ntorq, and TVS Scooty are popular in this category.
3. Mopeds: A segment where TVS has been historically strong, with products like the TVS XL Super known for their durability and utility.
4. Electric Vehicles: With the increasing focus on sustainability, TVS has also ventured into the electric vehicle segment. The TVS iQube electric scooter exemplifies their efforts in this direction.
5. TVS also offers three-wheelers in some markets, primarily for commercial and passenger transport.
6. Spare Parts and Accessories: TVS provides a range of spare parts and accessories for its vehicles, ensuring support and customization for its customers.
7. Racing Bikes: TVS Racing, the company’s motor racing team, develops high-performance bikes, influencing their commercial product development.

TVS Motors Place Strategy

TVS Motors has around 2000 country-wide main dealer showrooms and service stations attached to them. The manufacturing plants of TVS are located at Hosur, Mysore, Nalagarh, and Karawang in Indonesia. Some sub-dealers sell multiple brands in their showrooms with proper agreements.

Here’s the place strategy of TVS motors.

1. Extensive Dealership Network: TVS Motors has established a vast network of dealerships across India, ensuring comprehensive geographical coverage and accessibility for customers. This network facilitates easy purchase, service, and access to spare parts.
2. Global Presence: The company has expanded its footprint to over 60 countries across Asia, Africa, and Latin America, adapting its product offerings to suit the needs and preferences of various international markets.
3. Urban and Rural Penetration: TVS effectively targets both urban and rural markets, understanding the distinct needs of these segments. In rural areas, they focus on durability and utility, while in urban areas, the emphasis is on style and technology.
4. Online Sales Platform: TVS has integrated online sales and customer service platforms to keep up with digital trends. This approach complements their physical dealership network and caters to the growing segment of digital-savvy consumers.
5. After-Sales Service Network: TVS emphasizes strong after-sales support with a widespread service network. This includes authorized service centers and mobile units, ensuring customer support and maintenance services are readily available.

TVS Motors Pricing Strategy

TVS Motor, a unit of TVS group, is a 100-year-old group known for its strong values. Their pricing strategy varies according to product category and the consumer segment. The pricing is often economical, focusing on quality and Indian pricing values and sentiments.

TVS Motors employs a dynamic pricing strategy designed to cater to a diverse customer base while maintaining a competitive edge in the market. This multifaceted approach includes:

1. Value-Based Pricing: TVS Motors focuses on offering value for money, ensuring that the features, durability, and performance of its vehicles justify the price point. This strategy appeals to cost-conscious consumers who seek quality and affordability.
2. Competitive Pricing: The company keenly observes market trends and competitor pricing, positioning its products to remain attractive to consumers in terms of cost. This is particularly evident in highly competitive segments like scooters and entry-level motorcycles.
3. Segmented Pricing: Recognizing the diverse needs of different market segments, TVS employs segmented pricing. High-performance motorcycles like the Apache series are priced premium, targeting enthusiasts, while commuter bikes like TVS Sport are more economically priced for everyday users.
4. Geographic Pricing: In its global operations, TVS adapts its pricing strategy to align with the economic conditions, tax structures, and consumer purchasing power in different countries. This approach ensures market relevance and competitiveness across geographies.
5. Promotional and Seasonal Pricing: TVS often introduces promotional offers, discounts, and financing schemes, especially during festive seasons, to boost sales and attract customers. Such strategies are aimed at stimulating demand and maintaining market momentum.

TVS Motors Promotion Strategy

The promotional strategies involve placing brand ambassadors for each product specific to the geographic division (North India and South India). Virat Kohli, Dhoni for North India, Actor Surya and Trisha for South India. The promotional activities include a dirt bike rally, MRF Supercross championship rally, promotional events in Malls, etc. TVS Motors majorly concentrates on rural markets. Achieving significant milestones, TVS Motor Company has tailored its marketing strategy to enhance the ownership experience of two-wheelers, emphasizing customer satisfaction and earning accolades such as the Power Asia Pacific Awards, which expanded its footprint, delivering value to customers across Asia Pacific regions.

Some Recent Video ads and Print ads for TVS motors are:

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