Tata Motors Unveils New Zest Sedan for Target - myassignmenthelp.com

Question: Discuss about theTata Motors Unveils New Zest Sedan for Target Market. Answer: Introduction The report will discuss in detail about the revamp strategy of Tata Motors in India with the help of a case study. Here it is important to understand that India in current time demographically and economically is positioned well for development since it is effectively serving local demand as well as rise in the options of export alternatives (Luthra et al., 2011). There is a forecasted rise in the working class population in India and it is also likely to assist as well as change the flourishing market for number of vehicles in private space. There is no doubt rise in the overall prosperity with simpler access to money and rise in affordability is also expected to see high volume of four wheelers in addition to two wheelers and it will also remain the main alternative for many purchasers supported by rise is in standard of living in rural areas as well as youth market including more and more women. Target Market Alternatives for Zest Sedan along with Best Alternative Following are the type of segmentation in Indian automobile industry for a vehicle like Zest Sedan to sustain: - Geographic: this kind of segmentation is considered one of the crucial grounds of segmentation in the present automobile sector specifically in large countries like India. The reason is that the situation here is different in different regions. In order to take segmentation in the country, the manufacturer of tractor usually aim on different areas where agriculture of main significance and will target on those farmer who have large amount of land based on holding and have the right kind of resources to buy the tractor (Govindan et al., 2010). On the contrary, there are number of commercial automobile companies as well that would actually segment the whole market on the basis of focus of sectors in different region. In addition to it, there are luxury car manufacturers as well that will actually target the region of metropolitan cities for the purpose or motive of sales of their product where the small care manufacturers will also take into consideration the development of cities and many townships by taking into account at the time of process based segmentation of the products (Ray and Ray, 2011). Demographic: another significant basis for the same in the automobile sector is demographic segmentation. This kind of segmentation work as a base of marketing of products as per the income, age and status. Carmakers of small cars like Nano and many similar cars in this segment will mainly aim on the segment of people attached to the middleclass and it comes under demographic kind of segmentation (Jahanshani et al., 2014). Psychological: this type of segmentation comes up with diverse kinds of models of the products. This has been because of the case based on cars and where companies normally come up with two or sometime three kind of similar model and it has been also noticed by the analyst of industry that these variants of the medium of the model can sell the most of the products (Sturgeon and Van Biesebroeck, 2010). Behavioral: this type of segmentation is done on the basis of advantages that are sought through different status like loyalty and many more. This is an significant kind of segmentation in the automobile sector and it is important for many luxury car manufacturers (Ray and Ray, 2011). The best kind of target market or the basis of segmentation for Zest sedan which Tata Motors must take is Demographic segmentation and divide the market as per the income level and affordability of the people since the car is made for middle income group. Different ways for the research study on Zest Sedan along with option It is important to understand here that when there is an attempt to study a population, it is important to collect information from every part and every person in that group. This further makes it very challenging to study the concept of population. For instance, in case of the study based on population suffering from Schizophrenia in country like India can be huge or opinion of the people or total population liking raisins can also be different and huge (Ill, 2014). So now one can understand the challenges while understanding and studying populations. There are smaller populations like college that are easier for collecting data for population. But the main challenge here is that if one person also fails to be a part of population, this can mean that there is no population at all. There are two kind of population or it is divided into two groups: - Target population which means that there is whole group of people to which the author or the person who is researching can base to generalize the finding of complete study. Accessible population: this kind of population means that the researcher actually has a reasonable or proper access and can be treated as a subset of the whole target population. It is usually limited to region, city, country, regions or some time an organization or an institution (Ill, 2014). In this case Zest Sedan from Tata Motors will have to take accessible population because it is important to accessible population here since the product launch will target a specific region and a specific class of people for which is car is made and it is actually suitable for them (Ill, 2014). Types of defining Sampling Frame for the research study on Zest Sedan along with option At the time of working the research study, it is important that people clarify all types of units that are actually interested in studying the samples. There are units that can be associated with people, companies or the present documents. The research will also cover these units with varied population of interest. At the time of discussing the population, it is also significant to be as specific as possible. The issue here is that it is cannot be always about the feasibility of the studying the each unit in the population. It is obvious that the process consumes a lot of time and it is not very inexpensive by nature and can cost a fortune to some in order to collect data from every person in the population (Smolensky and Fitzgerald, 2010). In such cases, it is also important to study a part or subset of the population in the form of sample which will make the process much convenient and simple. The overall process at the time of selecting the sample requires being quite deliberate b y nature and there are different kinds of sampling methods that can be used based on the motive of research. Before the selection of a sample one requires discussing the sampling frame and is actually a list of all kinds of population based on interest. The research can be conducted with research finding to the population discussed and defined with the help of sampling frame only. Types of Defining Sampling Approach for the Research Study on Zest Sedan along with Option There are number of social researchers who base their observation on the fact that getting information from people in the population is very difficult and some time not very possible. So in the place of an attempt to collect all kind of information, the trick here is to collect a small sample of population (Smolensky and Fitzgerald, 2010). However, population like anything else has different kinds to collect a sample for population. There are different manners of taking a samples and following are different kind of sampling techniques: Random sample: every person in the population must get the equal opportunity of getting selected. Stratified sample: An author can easily divide the population into varied group based on features, and sometimes researchers can randomly select from every group which is based on the overall size (Marucco et al., 2011). Quota based sample: the authors can intentionally set the needs to make sure a specific group that can be presented. Purposive: an author sometimes with motive aims on specific subset in the population. Convenience: the overall selection in this kind of sample is usually based on the overall need of the gaining the access. Probability and non-probability techniques: the basic different or distinction between probability and non-probability methods of sampling that these kind of sampling does not based on any random selection however, probability sampling does depend on the random samples. This means that non-probability samples never relies on the overall rationale of the present probability principle. Sometime, a probabilistic based sample is based on some odds or possibility that people have in representing the population in right manner (Thompson, 2013). Here estimation is easy with confidence based intervals for the statistics. Various non-probability samples may also show the population in right manner and it usually will be very hard for people to understand the concept. Generally, the authors or researchers asks especially for probabilistic or random sampling approach over non-probability one and further consider them to more right as well as rigorous by nature. At the same time, there are vario us applied science based there can be situation where it may not be very feasible or right or sometimes very practical to perform such random based sampling. The case study of Zest Sedan launch by Tata motors can use the stratified sampling approach. This approach helps in dividing the population into distinct groups and they are termed as strata. Probability samples or simple random sample is also drawn here from every group (Thompson, 2013). This kind of sampling will help Tata Motors to decrease the overall size of sample needed to accomplish a given amount of precision. It is also possible to raise the level of precession with same type of sample size. Effectiveness of Stratified Approach One of the biggest benefits of using stratified approach in this case here is that it helps in decreasing the biasness in selection. It is also important to understand here that the process of stratifying the complete population before the actual application of random sample technique assist in making sure that a sample can rightly show the population being a part of terms of the criteria being used for the sake of stratification (Thompson, 2013). The process will be effective also because it can be used in appropriate manner since it make sure that every group or subgroup within the existence of population is able to reach a right of representation within the present sample. Conclusion On local level, there are some kind of consolidation or in other word alliances that are expected as well as driven with the need to access for the better based of technology with right manufacturing abilities, services and finally an effective distribution channels. The component sector is also in a very strong space to take full advantage of cost effectiveness along with profitability and global recognition with many engineering abilities (Thompson, 2013). The advantages of the present collaboration is becoming more clear along with super specialist that can further emerge as the automobile that can be treated as a whole system with every specialist aiming on a kind of sub-system as well. Reference Govindan, K., Kannan, D. and Noorul Haq, A., 2010. Analyzing supplier development criteria for an automobile industry.Industrial Management Data Systems,110(1), pp.43-62. Ill, P.A.R.T., 2014. 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Distance sampling underestimates population densities of dune-dwelling lizards.Journal of Herpetology,44(3), pp.372-381. Sturgeon, T. and Van Biesebroeck, J., 2010. Effects of the crisis on the automotive industry in developing countries: a global value chain perspective. Thompson, W. ed., 2013.Sampling rare or elusive species: concepts, designs, and techniques for estimating population parameters. Island Press.