Creating Maxima as a brand endorsed by Bajaj
Bajaj Commercial Vehicles
Interbrand conducted a holistic internal and external research, leading to customer journey mapping, Role of Brand and Brand Strength analysis that showed earnings potential, resale value and power were the key drivers for purchase decision.
Bajaj Auto is the world’s largest three-wheeler manufacturer. It is the market leader in over 36 countries. In India, it held 90% market share in the petrol three-wheeler market. However this success did not translate into the diesel three-wheeler segment.
The brand held a stagnant 30% market share in the diesel three-wheelers and tried everything to change the situation. Eventually resorting to heavy discounting. Bajaj Auto bled money to gain market share despite having a product with more powerful engine, sturdier drive, lesser break-downs and lower maintenance.While Bajaj was focused on the price a driver will have to part with to own the vehicle, there was little focus on the emotional benefit of the vehicle itself.
Interbrand conducted a holistic internal and external research, leading to customer journey mapping, Role of Brand and Brand Strength analysis.
The research showed that earnings potential, resale value and power were the key drivers for purchase decision. Using Interbrand’s Brand Strength analysis we identified that Bajaj Maxima scored higher than the competition on Differentiation, but significantly lower on Presence and Relevance. We also found a close link between Brand Strength Factor Presence and Resale Value of the vehicle.
We re-positioned the brand as an earnings maximiser, linking its powerful engine with powerful earnings.We changed the nomenclature to increase internal and external differentiation. From Maxima as a variant of Bajaj RE to Maxima as a brand endorsed by Bajaj.
We brought ‘Power’ as a point of differentiation for the brand, making it synonymous with the vehicle itself.We were successfully able to apply the new proposition to dealer meets, innovations in the vehicle, BTL activities, and even highlighting the complete value chain of the product.
The new proposition was taken across the nation in 200+ towns through Bajaj Maxima Power Challenge.
Bajaj Maxima sales grew by 6% (USD 35 Mn) while the industry sales fell by 2%.