ECOF (Eco- Friendly) cars were found in 2011. The company produces eco-friendly plug-in cars. Being a new company it comes with innovative ideas. The company subsidiaries and manufacturing in India. ECOF being a new company has built its band based on four core values.
ECOF scoured the world for top artists and designers to help create a strong brand identity. It delivers marketing strategy through online and offline channels. ECOF focuses on customer value and also strengthened its internal administration regarding customer service. The main aim for launching this car in India is because of eco-friendly. As the vehicle use is increasing rapidly, the pollution is also increasing high this happens mainly in cities. And this is the first plug-in car to be used. This car reduces the cost of transport and also provides innovative technologies. It has amazing features which none of the cars have in India. And as its a plug-in car , car can be charged at home during emergency time.
PESTEL analysis of ECOF
- Government continuously slashing tax rates
- Government has launched automotive mission plan
- Automatic approval for FDI in automobile sector.
- Stable economic policies
- Easy availability of finance
- Economic incentives by local state government
- Low duties and taxes
- Lucrative market in rural India
- Rapid urbanization and income level
- Skilled labour costs among the lowest in world.
- Four lack Engineers pass out every year
- Credible local suppliers of high quality components
- India emerging as a hub for auto manufacturing and research.
- Indian automotive regulations are closely aligned to world standards on emission and safety.
- Proximity to major export markets.
- Weighted tax deduction up to 150% on in house R&D
- Relatively high import duties.
SWOT analysis of ECOF
- Understanding Indian market and ability to cooperate with the government.
- Ability to design products with differentiating features
- Brand Image as the name states Eco- friendly products.
- Experience in technology
- Eco-friendly product
- Reduces transportation cost
- Lack of experience
- Heavy import tariffs
- Low brand awareness
- Weak marketing communication
- Increased purchasing power
- Government subsidies
- Tax benefits
- Foreign collaboration
- Cheap labour
- Emerging competition
- Increasing cost of inputs
- Rapid change in customer preference.
- Marketing intensions:
ECOF being a brand name that mirror the vision of the company. The branding strategy behind this is as India being a polluted country due to the vehicles some emission. The name of the car is ECOF which states Eco-friendly. This might be an advantage for the brand to hold the customers. This brand name helps in targeting the customers.
Customers are positioned through the websites and also the advertising campings. The company uses both online and offline advertising to target customers. Being a new company have more technological innovations. As its India advertising through cricket players or the film Stars will be done. Advertising through Social networks like face book .
Marketing Mix Analysis of ECOF
ECOF is a plug-in car which is completely new into Indian market. And this car has amazing features like 100 mile rage; it has a five door hatchback which provides many features. This car includes speed charging and best thing about the car is liquid cooled/heated batteries. A navigator as well as information of the charge will be displayed. This in turn will help to plan the trip.
The price of the car is estimated in dollars, even though its production and sales in India. Its because after 3 years of marketing in India. Sales will be done in European countries. So the price is estimated to 20,000 $ . By targeting capital city of India, Delhi will help in more sales due to higher economy. As being a new car its price is high, once sales is started the price will be reduced. As the car runs through current transportation cost will be reduced.
Promotions like 3 years insurance, Pre bookings will be offered 10% discount. In India none of the company gives 3 years free insurance. This will give a value to the car.
The place for manufacturing is Delhi the capital city. And as ECOF being an plug in car will be having market in cities when compared to villages. And Delhi be very useful in collecting raw materials too.
As the people at Delhi are educated and as they know the harms of pollution, this will help to gain the attention of customers. And also skilled employees at the showroom who gives better customer service. Staffs are trained with interpersonal skills.
After sales service is perfect in case of ECOF cars. The company provides you with 24/7 services. Which means service will be done at anytime and will be done faster too. In India other company doesnt provide with 24/7 service. ECOF cars is the first company to provide 24/7 service.
The show room are completely new, buildings with innovative ideas. Customers are not forced to buy the cars. The staffs are well educated and well dressed. And always a soft music which in turn makes the customers relax.
ECOF being one of the Indian companies, as its new it has innovative strategies. As the car is new to India, it will have a warm welcome.
The company mission:
To provide wide range of modern, high quality and eco-friendly vehicle to meet the needs of the customers.
The company vision:
ECOF should become the leader of Automobile industry in India and should also aspire to be among the global players.
An ECOF car is a plug in electric car. Which offers 100 miles of range packaged into five door hatchback. It has other benefits too. Diving electric car gives a silent drives, it has incredible efficiency. And one of excellent feature is the high rate of use of internet within the car. And it operates extremely low cost per mile. There are some basic features as other plug in car has like high speed on board charger, A actively liquid cooled and heated battery pack. And some effective displays such as battery state of charge which can calculate the driving range.
As its an Eco- friendly vehicle, social activities like health campaign will be conducted. Once the car enters the market an open feedback campaign will be conducted, where customers can say their point of view and also any modification on the car can be said at the campaign which will be taken into account and will be solved as fast we can. And also social activities like involving during the cricket match. Workshops will be held twice in a year with innovative cars. As its a new company we didnt think more about these marketing programs. But soon will add more.
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