Company : Maruti Suzuki Ltd
Brand Analysis Count # 440
Maruti has launched a new Multi Purpose Vehicle - Eeco. Eeco is the rebirth of the Late Maruti Versa. Versa was a big flop despite the high profile celebrity endorsements from Amithabh and Abhishek Bachchan. Maruti messed up that
practical car with a ridiculous pricing.
And what a way to come back.
Eeco is built in the same platform of Versa. The brand has the famed KB series of engine that powers the new Maruti offerings like the Ritz. The company also squeaked the exteriors of the old Versa, discarded the high roofing and added little more graphics in its new avatar.
More than anything else, it is the price that makes Eeco a potential winner in the ever value conscious Indian market. Priced from Rs 2,60,000 - Rs 3,10,000, the brand comes in a mouth watering price . At this price,Eeco is a winner from the word " Go".
Maruti Eeco fills an important gap in the automotive market. There exist a need for a entry level vehicle that can carry a large family . The small cars can never satisfy that need. Infact most of the cars are ideal for a family size of 4. Eeco is fulfilling that need and that too at a irresistible price.
Eeco is priced at a premium to Omni. Omni , although found takers in the Indian market suffered because of concern of security and lack of comfort. The future of Omni is bleak since the van cannot be fitted with A/C and A/C is becoming a part of the expected product.
Eeco offers all these comforts. It has an A/C variant and comes in 7 seater & 5 seater offerings. For a large family , Eeco makes immense practical sense. Backed by Maruti reliability, Eeco is expected to boost up this new segment of entry level MPVs. Eeco will be popular both at rural and urban markets.
I expect this brand to create a new segment of entry level MPV . Eeco will definitely cannibalize Alto, Omni and to a certain extent Wagon- R by luring large families into it. But more than the limited cannibalization, this is a product that Indian families were waiting for. The predicted success of Eeco will also open up a new market segment for comfortable mini vans. Now we have only have such large carriers at the premium segments like Innova. Eeco has the potential to disrupt the market structure . Most car makers assume that the typical family structure in India is of the size 4 and thus turning a blind eye towards many large families. Eeco can change the way automakers look at this segment .
The brand has the tagline " Happiness , Family Size " . Eeco is running a tvc across various channels. The ad is very basic and nothing much to talk about. It does't need a highly creative ad for such a wonderful offering.
The only factor that Eeco will have to deliver is the promise. If Eeco as a product performs on parameters like comfort, A/C cooling, safety, stability and mileage, it is a winner.