New Product Introduction at TVS Motor
NPI is the key to corporate development, any successful new product can deliver impressive results. As well a successful NPI is a key constituent of company strategy. Basically before a launch of any new product they identify the opportunities of the new product. There is a correlation between new products and business strategy. Business strategy is the foundation of successful business. But there are, of course, different types of business strategy.
Strategies and Business Performance :
Strategy is defined as the outline or plan that integrates an organisations key goals, policies and action sequences into a persistent whole. A company having a well planned strategy can marshal and allocate the resources of the organisations. In other words it can be defined as a challenging environment where the needs of the market is derived based on the business strategy and demand.
New Product Introduction is principally connected with different strategic levels
The degree to which a company’s competitiveness will vary depending on the industrial sector and the arena of competition such as regional, domestic or international market.
Business performance management will help a business to make it efficient and use their financial resources and looks at enhance processes through continual feedback, forecasting, total quality management and performance measurement to ensure targets are being met. Business performance management is a of processes that helps a organisations optimise business performance. It is a framework for organising and reviewing processes and systems that drive business performance.
The contribution to the NPI for a particular product is based on the manufacturing company. Proper research methods to identify whether the product will be able to compete with the equivalent products already available in market manufactured by competitors . As per the book of House of Quality a Performance matrix should be developed to determine the requirement of customers. This is called as Quality Function Deployment.
Overview of Company :
TVS Motor Company is the third largest two-wheeler manufacturer in India. They are one among the top two wheeler manufacturers in the world. TVS proved it by providing the best of its services to the customers. They have almost launched different types of two wheelers ranging from 50cc to 180cc. They are well known for their total quality management. TVS launched one of the most fashioned and stylish bike in 2007.
Apache bike is been launched for the finest segment and targeting the youth. Its of a strong body, engine and design are the core attractions of the bike. As per the NPI strategy TVS in order to attract the targeted customers they manufacture bikes with different attractive colours such as pearl white, gray, yellow and white. It is been featured with the advance specifications and also been connected with the most powerful engine. TVS Motors has a JV with Ducati in India to Sell Ducati Bikes. They are planning to outsource the design from Ducati and manufacture it for TVS Motors.
Business Performance and Practices :
TVS Motor strives for manufacturing excellence and innovation in research and development (R&D). With the company’s emphasis on new and domestic product development, its New Products Introduction (NPI) team, comprised of approximately 300 engineers, must stay at the forefront of executing R&D roadmaps and strategic organizational visions for new products. These products are developed domestically via technical collaboration with globally renowned partners. Regardless of market conditions and business environment dynamics, TVS Motor releases six to ten new products annually to address the broad-based requirements of the Indian market.
First of all, we consider the relationship between practices related with new product Development this 160cc Apache launched in the growing premium segment, was declared Performance Bike of the year 2008 by Auto Business Standard Motoring , NDTV and Overdrive. It also bagged the NDTV Car & Bike Award for Best Design . new product development is necessary. The virtual involvement is important The bike is best power pick up performance, reliability, mileage or style, design and fully youth oriented bike. TVS Motors is the only Indian company to launch fuel injection system in 160CC class. It involves a team of 300 members in the development of the fuel injection engine.
The Apache RTR 160 FI was the company's first sporty bike with superior looks and Advanced engine technology. It is a creative and innovative motorcycle that matches the international standards. Apache RTR 160 FI is the result of TVS racing heritage. It was born on the racetrack and was built to redefine and set a benchmark in the Performance Segment, both in terms of leading design styling and edge technology
Fuel Injection Technology :
The new Apache RTR 160 Fi is equipped with 159.7CC, 4 stroke engine with fuel injection like four wheelers . The Bike produces a massive power output of 15.7BHP It has option of both kick and self start. The bike comes with alloy wheels. The bike delivers a good mileage . When compared with premium bikes the maintenance cost is very less.
Marketing Strategy :
Auto experts from India personally feel & experience the extensive testing of bike on all conditions. The assessment of the bike is made by all the leading auto magazines. This itself is a source of reassurance to the customers. Shootout is done by major auto magazines against the leading competitors of TVS Motors. The credibility of product is increased when more Marketing Strategy methods are used to develop the product. TVS Motors is planning to launch the low segment bikes TVS Flame and TVS Apache in USA. The New version of RTR is already launched in Indian market with a new name “Hyper Edge”. The bike has received a Total Quality Management Award in the year 2007 and it was declared as the bike of the year “2007”.
Market Potential :
The target market is for bike enthusiasts who are really interested to afford this kind of stunning bikes. After the successful launch of RTR 160 FI , TVS Motors launched the 180CC powered engine with a fuel efficient Electronic Fuel Injection that delivers more power. All the varients of RTR comes with new generation technologies like front and rear disc brake. TVS Motors is not only in the field of two wheelers , they do all kind automobile spare parts. TVS Motors has their own bike racing groups were they promote their bikes for the use of race. TVS Motors is located in Hosur Near Bangalore in India.
TVS Motor Company has a close relationship between the companies NPI strategies with its business performance. And thats how they are successful in the launch of RTR 160 FI in India. They are further trying to determine the needs of outside countries to launch their bikes outside India. With the help of advanced technology they will soon launch the bike in USA as per the Marketing Strategy. The Future bikes from TVS will have
Increased variety – respect to the customer needs
Improved power and acceleration.
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