Will Maruti’s premium pricing strategy for Invicto find an audience for a brand that has been known for budget cars?
In India, Maruti Suzuki has been the go to brand for affordable, value for money vehicles for a long time. However, with the Invicto, a premium positioned vehicle with a higher price tag, this is quite a departure from this image. This has led to discussions around how brands are perceived, what consumers expect and where a brand should be positioned in the market. On one hand, some say Maruti's reputation for reliability and wide service network will help it in the premium segment, while on the other, others think the brand may not be able to justify the higher price to traditional Maruti customers. It also raises the question of whether Indian consumers would be willing to pay a premium price for a Maruti product and what the impact of this may have on the company's overall brand strategy.
Maruti is taking a big risk, I think. Maruti is synonymous with affordability, and asking people to shell out 30 lakhs for a Maruti might be a little hard. To justify that price they need to really step up their game in terms of quality and features.
They could market it right, and it could work. Many people have a huge loyal customer base for Maruti and might be looking to upgrade to a premium vehicle but from a brand they trust. Their service network is unbeatable, plus.
Maruti's image has already been changed by the Nexa brand. The Invicto may be the next step in that evolution. People will pay for it, if they can deliver a truly premium experience, badge be damned.
I'm skeptical. If you’re selling at that price point, you’re competing with premium brands that are already established. There is nothing special for Maruti to offer buyers to make them choose them over more prestigious names.
It’s about value proposition. The Invicto may find its niche if it can provide features, as well as quality similar to that of the more expensive rivals and take advantage of Maruti's strengths such as low maintenance costs and widespread service network.
Comment
Discussions and Questions Will Marutis Premium Pricing Strategy For Invicto Find An Audience For A Brand That Has Been Known For Budget Cars
No answers found .