Developing Sustainable Marketing Strategy for Electric Vehicle (EV) - Automotif

Abstract

Abstract:uture of urban mobility is electric vehicle (EV) and there is no doubt about it. At the same time, it is considered as a new product among the automobile industry. However, entire EV industry is evolving and lot of R&D is going to get major lead in this industry. This project puts forward and determines sustainable business strategy for EV by doing external environment analysis using PESTEL and Porter's five forces and mapping of opportunities and threat which effects company's direction as well as to locate potential sources of competitive advantage from a perspective that encompasses the internal, external, and dynamic fit of strategy. Project give the assessment of the strategic impact of the moves of competitors and how to maintain competitive advantage, understand the general drivers that create and sustain competitive advantage using Porter's Generic strategy, and how to identify organizational barriers to change using Ansoff's Matrix and Value Chain Analysis. It also tries to analysis market using segmentation, targeting and positioning based on conducted survey. It also provides overview of distribution and suggests omnichannel approach. This project aimed to use as an assessment and redesign of steps of current strategy and develop plans for effective implementation to give firm a competitive advantage. Maintaining a competitive advantage takes more than great timing or a single solution. Sustainable advantage requires a well-designed and well-executed strategy. This project covers analysis of various tools and frameworks that can be used to develop and execute a successful strategy.

A review of global automotive industry’s competitive strategies

“…Table III summarizes that competitive strategies have been discussed from the works of other scholars in relation to automotive industry. Authors found that NPD is still the area of interest for those scholars such as the diversity of power trains and increasing product variants (Diffner et al, 2018), fostering NPD (Kotturu and Mahanty, 2017), continuously develop product (Pahurkar and Metha, 2017) and process development (Holtskog, 2017). The research on supplier as competitive strategies has been discussed by Kotturu and Mahanty (2017), Manello and Calabrese (2018) and Karayel (2017) related to transfer responsibilities to component suppliers, suppliers' technology, product diversification and knowledge.…”

“…Hyundai's product development tries to adjust to local needs (Chen, 2017), and Tesla promotes the development of the new energy vehicle industry innovation environment (Liu and Meng, 2017). Other scholars stated that competitive strategies by increasing product variants (Diffner et al, 2018), fostering NPD (Kotturu and Mahanty, 2017), continuously develop product (Pahurkar and Metha, 2017) and process development (Holtskog, 2017).…”

“…Suppliers in Malaysia are forced to shift paradigm in green production strategy (Rashid and Shami, 2018). Green energy plays an important role in many countries, such as policy making toward electric vehicle in India (Pahurkar and Metha, 2017) and launching of an increasing variety of new hybrid and electric models each year by China (Bartnik et al, 2018). Also, Korea and China are closely linked to each other in the production of electric automobiles (Lee and Mah, 2017), Malaysia promotes itself as the regional hub for energy-efficient vehicles (EEV ) (Shukor et al, 2017) and Kenya embraces green logistics management practices (Chrisostom and Monari, 2018).…”

“…Fostering NPD is a key factor to compete in the present global market (Kotturu and Mahanty, 2017). Hence, companies need to continuously develop product (Pahurkar and Metha, 2017) and process development (Holtskog, 2017). After sales activities are recognized as a primary source of revenue (Domazet and Stosic, 2017).…”

Strategic Options for Automobile OEMs of Indian Origin to have Sustained Competitive Advantage: A Case of Tata Motors

“…al. ( 2017 ) Internationalization Sushil and Garg ( 2019 ) Policymaking toward EV Pahurkar and Metha ( 2017 ) Performance Market share gain, customer satisfaction, better capacity utilization, and high productivity Alagappan et. al.…”