Using Marketing Mix to Introduce EICHER Brand Truck – A Study on RANGS Motors Limited

Abstract

Commercial vehicles enhance the efficiency of product distribution routes; therefore, these vehicles are an essential element of the value chain. Commercial vehicles, which include trucks, cargo vans, passenger coaches, and buses, are used for business, such as transporting customers, delivering goods, or providing other services. In Bangladesh, the commercial vehicle market has grown to a massive BDT 4,200 crore, up from a value of BDT 2,000 crore only a few years ago. The size of the market for commercial vehicles has expanded by 15% to 20% yearly during the preceding decade. In addition, many commercial vehicles brand like Tata, Mahindra, Ashok Leyland, and Eicher enjoyed an additional 7-10% in sales because of the E-Commerce Space in Bangladesh. But rivalry among competitors is high in Bangladesh commercial vehicles industry market; because there are several distributorship companies like IFAD, NITOL, Runner, AKIJ, RANGS, etc. The main purpose of preparing this report is to study how RANGS Motors Limited implements its marketing activities by using the 4ps of marketing mix strategies for their EICHER Branded truck segments in the commercial vehicle industry of Bangladesh. Rangs Motors Limited (RML) is a concern of Rangs Group that began its adventure in the year 1998 and developed from the trading sector to sole distributorship of known brands such as EICHER and MAHINDRA & MAHINDRA. RANGS Motors Limited claims that by marketing its products as symbols of comfort and luxury and success, it would inspire a sense of self-actualization in its buyers. They boast that their vehicle is durable and dependable. Customers are drawn to the product because they believe it offers good value for the money and it has positive reviews for being trustworthy and durable. But NITOL Motors Ltd, IFAD Motors, and Runner Motors Ltd are the strong competitors for them and they have already dominated its’ market and gained most of the market share compared to RANGS Motors limited when compared to prices offered by competitors, the price is little higher for the brand of EICHER. Therefore, some recommendations for RANGS Motors Limited are provided in this report based on the findings of this study, which might help understand the current difficulties they face in the business's growth in the commercial vehicles industry in Bangladesh. RANGS Motors Limited should use a variety of materials to construct barriers against as well as need to take some innovative marketing strategies for it.