Business Research Assignment - Tata Motors

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Added on 2020-03-16

Business Research Assignment - Tata Motors

Added on 2020-03-16

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BUSINESS RESEARCH

TABLEOF CONTENTSINTRODUCTION.................................................................................................................................1Discussion of the target market alternatives for Zest sedan.........................................................1Discussion on Alternatives ways of defining population for the research study.........................2Discussion on alternative ways of defining sampling frame for the research.............................2Discussion on alternative ways to define sampling approach for the study................................3Why the approach expressed in the earlier section will deliver effective research outcome.......4Conclusion...................................................................................................................................5REFERENCES................................................................................................................................6

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INTRODUCTIONIn the modern era, the automotive industry has become highly competitive, and it is nolonger easy for companies to sustain in the market place. The intense competition has forcedbusinesses to carry out changes in products, services, and overall strategies at regular intervals toattract new customers and retain the old ones. Organizations are required to conduct marketresearch at regular intervals to identify the changing demand of customers and market trends.The study of market and target customers also assists companies in the identification of the gapin the existing market and development of products according to the same. The present study is based on Tata Zest which is a compact sedan launched by TataMotors. The new product is helping the organization to enter the petrol segment of automotiveindustry which is still not explored by Tata Motors[ CITATION Tat17 \l 1033 ]. The reportoutlines various types of target market alternative present in front of the company with regards toits new product which is Zest. The discussion regarding alternative ways of defining populationand sampling frame is also mentioned in this study. Discussion of the target market alternatives for Zest sedan In the present scenario, defining the target market and its alternatives is essential forgrowth and success of businesses. In simpler terms, target market can be defined as the set ofpotential customers with similar buying characteristics and needs. It can be expressed that a well-defined target market is essential because it provides companies with right direction in whichthey can invest their resources and strategies. The present target market strategy of Tata Motorsreflects that the business has defined its market by a variable which is demographic. To marketand sell its new product which is Tata Zest, the brand has targeted people who fall under themiddle-income group of the society[ CITATION Tat14 \l 1033 ]. The target market alternative for Zest sedan includes youngsters, working professionals,and housewife. It is suggested that the youngsters in the country are the best the target marketalternative for Tata Motors. For targeting all these customers effective strategies have beenundertaken by Tata where the main focus of the business is on highlighting the unique feature inthe product range so that level of customer satisfaction can be enhanced easily. In a country likeIndia, more than 65% of the total population falls under the category of youngsters, and thus, it ismore beneficial for the brand to target youngsters. The sporting look and classy interior of TataZest will help in attracting youngster in the country[ CITATION Zik13 \l 1033 ]. The reason1

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