Honda Motorcycle and Scooter India launched the Shine 100, a 100cc bike in the highly competitive market.
In the first year, the company hopes to sell 300,000 units, which would beat Hero MotoCorp.
The Shine 100 will be one of the cheapest self-start bikes in the market. The bike will be ready for production in April.
The journey in India has been amazing. It has become the second largest two-wheeler maker in the country with a market share of 27 percent.
Honda promises to exceed their expectations by offering unparalleled value. With its reliable performance, comfortable ride, and affordable price we aim to empower people with the freedom to move forward and explore new possibilities.
Projections for sales.
The 100cc bike accounts for over a quarter of the total two-wheeler market. The range of products from Hero are between Rs 55,000 and Rs 75,000.
Honda has a hard time creating a space in the category. Mathur didn't share the sales projections because he understood the competition.
Mathur said that it would take some time for them to understand the market.
Atsushi Ogata wants to sell 3 lakh units of Shine 100 in a year. Over the next three years, it can go up to 6,00,000 units. He told Mathur to reach the target.
A marketing plan.
The company has launched a campaign for Shine 100 in several languages.
There are as many as 12 patent applications forShine 100. Honda's existing range of Shine has been available in the market since 2006 and is now called Shine 100.
The price of Shine 100 is our main selling point. Those who couldn't afford the 125cc model can now buy our vehicle since Shine 100 is the cheapest in the category. The marketing strategy would be the same.
23 of total two-wheeler sales in India are made up of the rural market.
It's a marketing budget.
The current marketing budget and allocation for FY 24 was not shared by Mathur. He said that the company plans to increase its marketing budget by 25%.
According to the company's financial data accessed by business intelligence platform Tofler, the company had cut down its advertising and promotion expenses to Rs 160 cr for the fiscal ended 31st March 2022.
There is a media mix.
Since the Pandemic struck, digital has made up nearly 13 of our marketing budget. Traditional media gets the rest In the upcoming fiscal, we would continue to invest in digital.
According to Mathur, TV's share in his AdEx varies depending on the kind of launch.
Which platform has the best return on investment? There's a mathur joke on the video. It does a good job for us. Performance-based marketing is what we focus on to get the best return on investment.