Although the brand has been officially launched, consumers may not be able to get hold of Nano anytime soon. The first car is expected to be delivered only in June and the company will be able to meet the entire consumer demand only in a phased manner.
Nano now comes in three variant. The basic version is the One Lakh car and there are two upgrades. The basic version will cost around Rs 1,30000 on Road and the premium version will cost around Rs 1,80,000.
Nano is a special brand. It is a brand that symbolises an entrepreneurial dream. It is also a brand that symbolises determination , hardwork and innovation.
With the launch, Nano also have its tagline " Now You Can " derived from the famous campaign of Barack Obama. The new tagline symbolises the brand's promise of an affordable car for the masses.
Nano also gives a very valuable lesson to the marketers. It shows that low cost does not necessarily mean a 'cheap ' car. Nano suprised many with its stylish look, spacious interiors and a good quality drive. All these comes with a very low cost.
Usually when we think about a low-cost product that is targeting the lower rung of the consuming class, the focus is more on functionality and compromises. The resultant product is a poorly designed functional product with rugged look and zero aesthetics.
Professor CK Prahlad famously remarked in the book " Fortune at the Bottom of Pyramid " that the consumers at the bottom of pyramid wants an affordable product and not a cheap low quality product.
Many Indian consumers irrespective of social class is going to buy this car because it is a very good looking , highly functional car and not because it is a cheap car.
Tata Nano also gives the marketer a golden key to tide over the recession. Come out with a product that catches the imagination of the consumers.