26

01
22

FINAL PROJECT REPORT

MARKETING STRATEGY & MANAGING CUSTOMER VALUE

Submitted by: Group 07, Section B

Asmitha Seshan - F21076

Elina Abraham - F21082
Joseph John Mattam - F21088
Meshak R - F21093
Sanju Rojas - F21108
 CONTENTS

TABLE OF CONTENTS

02 Survey & Results

07 Pricing & Channel Decisions

05 Product In Focus 08 Launch & Promotions

06 Branding 09 Appendix
PAGE 02

SURVEY & RESULTS

Age of the participants Gender of the participants
Over 55
Others
40-55 0.9%
6.4%
15.6%

Male
45.9%

25-40 18-25
25.7% 57.8% Female
45.9%

Their ability to drive vehicles The ownership of vehicles

100 100

75 75

50 50

25 25

0 0
Yes No Yes No

Have they faced any issues with Have they gotten into any
vehicles coming up into the blind accident because of this issue
spots of the rearview mirror

100 60

75
40

50

20
25

0 0
Yes No Yes No
PAGE 03

SURVEY & RESULTS

How much is the average cost of Have they ever felt the need
repairs caused due to accidents for Artificial Intelligence to
while switching lanes? (Annually) address this issue?

Less than Rs.

5000
15.5% Maybe
26.6%

Rs. 5000 - Rs.

More than Rs. 15000
15000 24.5% Yes
No
60% 62.4%
11%

Will they invest in a product that Would you be willing to try on the
notifies if a vehicle is in the blind Intelligent Rearview Mirror in your
spot and warns you about the vehicle for a week and then
chances of a collision? purchase it if you are interested?
Maybe
8.3%
Maybe
22% No
8.3%

No
11.9%

Yes
66.1%

Yes
83.4%
PAGE 04

SURVEY & RESULTS

Would they be willing to buy this for a If such a product is available,
family member's scooter even if it where would you prefer to buy it?
means shelling out extra money?
More than Rs. 75
15000
11.9%

50

Less than Rs.

5000
48.6% 25

Rs. 5000 - Rs.

15000
39.4%
0
At a dealership At a customisation centre

How much would you be willing

to pay for this product? Do they visit Automobile Expos
(Two- Wheeler and Four- Wheeler respectively)

60
Maybe
26.6%

40

20
Yes
No
62.4%
11%

0
Yes No

Inferences:
We found that around 80% of the respondents have faced issues regarding blind spots. This shows that this
problem is a genuine concern for the drivers.
Almost 60% of the respondents have gotten into accidents due to the issue of blind spots on road, which is
alarming. We can infer there is a need for a product that can prevent such accidents.
We found 60% of the respondents believe that the introduction of AI could help them resolve the blind spot issue.
Only 11% think AI may not work. The responses from this question further points to a need for an AI enabled safety
system to address the safety concern.
We also find 66 % of respondents are willing to invest in this type of product. Also, 22% are thinking about the
same.
A vast majority of the respondents, i.e., 83%, are willing to try on the AI mirror system if they get the opportunity.
We discovered that approximately 60% of responders attend the automobile expos. We deduce that automobile
expos could be an excellent place to introduce our product or conduct promotional activities.
PAGE 05

PRODUCT
"AI based intelligent rear view mirror system which has an integrated display in the structure of the rear
view mirror for collision aversion warning and blind spot assistance"

Features:
Extends the rear ward field of vision (2X)
Attenuates the glare and improves visibility in low light areas.
Offers a high-resolution image due to the camera built into the intelligent mirror
Ability to work split screen as a mirror and monitor simultaneously so can double up as
Parking Cameras
Internal cameras to monitor occupants of the vehicle (eg Children)
AI based collision warning system

POSITIONING:
The Product is positioned as a safety accessory to be purchased as an aftermarket product to cater the
urban car buying population in India. The product would serve to prevent potential accidents due to blind
spots in the vehicle’s rear view mirror system. After the initial acceptance into the market in urban car buying
population the system can also be implemented in commercial vehicles such as buses and trucks.

TARGET SEGMENTS:
Automotive rear-view mirror manufacturers and component suppliers
Distributors and suppliers of automotive mirrors
Automotive OEMs
Industry associations and other driver assistance systems manufacturers
The automobile industry and related end-user industries

The market for automotive is projected to grow at a CAGR of 5.39% from 2017 to 2022, to reach a market
size of USD 12.97 Billion by 2022. Increasing awareness about vehicle and passenger safety is expected to
drive the demand for the automotive rear-view mirror. The safety of passengers and vehicles has become the
prime concern for vehicle buyers. According to the Global status report on road safety 2015, more than 1.2
million road traffic deaths occur each year globally. To reduce these accidents, OEMs are integrating
different safety features in the automotive mirror. This integration of safety features is expected to drive the
automotive market. Blind spot detection is estimated to be the fastest growing automotive mirror feature
globally, in terms of volume. Blind spot detection system detects the distance and closing speed of objects in
adjacent lanes. It also alerts the driver if a collision is imminent. The growth of this segment can be attributed
to its ability to prevent blind spot accidents. However, the power control feature of the mirror is estimated to
dominate the automotive market. The driver can control the mirror without any manual effort.
PAGE 06

BRANDING
Brand name: Speed7 (Logo attached)
Package design: Package is made out Eco friendly material only
Colour: Matt Black
Slogan: Smart tech for better future
Spokesperson: Valentino Rossi & Max Verstappen
PAGE 07

PRICING
Four Wheelers:

Camera (with sensor technology) - 8 Nos: ₹2500

Total: ₹20000
AI Motherboard: ₹7500
Monitor: ₹3500
Total cost: ₹31,000 per piece

Two Wheelers:

Camera(with sensor technology) - 2 Nos: ₹2500 each

Total: ₹5000
AI Motherboard: ₹5500
Signaller: ₹1000
Total cost: ₹11,500 per piece

CHANNEL DECISIONS
Attached below is the proposed distribution channel based on our survey and current market trends
PAGE 08

LAUNCH
For the product launch we are getting our company as the Title sponsors for
MotoGP & Formula One. The unveiling of the product would be done by the
winners of the event. Collaborating with Royal Enfield for Uncover South 2022 &
Deyor Ladakh biker Trip 2022 and providing the riders with our product to create
awareness and ensure a safe drive.

PROMOTION
PROMOTION (ADVERTISEMENTS)
When the respondents were asked to choose if they'd purchase such a product for their family
members, it was an overwhenigly positive yes that was recorded. Based on this we would likely adopt
a family oriented ad campaign - "Family First" that emphasises on the safety needs of all our fellow
family members that travel day in and day out to work and other places.

PROMOTION (SALES/TRADE)
The purpose is to make the customer aware of the new product and establish the brand and finally
develop consumer base via Deals, Sales contest and Flash Sales at Expos. The duration we predict is
20 weeks.

VEHICLE OF SP-EXECUTION: First focus is to limited areas- so mainly at Metropolitan cities and then
based on the response received, the area of sales will be expanded to other cities and states.
Duration we expect it to take 40 weeks.

PROMOTION PR/PUBLICITY
PR packages/hamper with our product as the main focus is planned to be sent to Major Automobile
influencers, Prominent automobile reviewers working for Magazines. The product will be a part of gift
hampers delivered to automobile dealers attending Auto Expos. We plan to garner interest in the
product through blog posts and newsletters. Automobile Influencer's mentioning the product in their
stories, posts and reels help garner more interest in the product. This will result in more number of
people searching for our social media page resulting in more follower engagement and traction

PROMOTION - PERSONAL SELLING/SALES FORCE

We believe that in our case, personal selling will not be involved but this is subject to change as this
is a dynamic business environment.
PAGE 09

APPENDIX
The Google Form
(https://forms.gle/DLsLpU6oWfAHXzoAA)

THE END