Sunday, October 05, 2014

Brand Update : Wagon R Teaches How to Manage Product Lifecycle

The festive season of 2014 saw the launch of  limited edition Wagon R Krest. Wagon R which was launched in 1999 is still the 4th largest selling car brand in India. The product is a classic example of how consistent performance + value-for-money positioning will achieve long-lasting success in Indian market. 
Wagon R has become a success because it is one of  the most practical car in the Indian roads. Be it space, comfort or reliability, Wagon R has delivered consistently over the last 15 years.
On the product front, Maruti has been very smart in ensuring that the product and the brand is kept relevant to fit the changing consumer needs.
The brand went for relaunches and modifications in 2003, 2006 and 2010. 
In 2013, Wagon R launched another variant- StingRay with a new positioning to attract the young consumers. 

This year, the company is keeping the PLC rejuvenated by launching a limited edition product branded as Wagon R Krest. The new variant has new front grille, audio system, reverse parking sensors, new seats and some sticker jobs. The new limited edition is priced at a premium of Rs 22000 over the original Wagon R. 

From 1999 to present, the brand has sold around 1.3 million units and counting.  In the branding front, the company had tried to maintain the brand's visibility . Earlier it used the actor Madhavan as the celebrity endorser effectively. More than the brand's campaign, it is the practicality of the product that has made it a best-seller.
Maruti has plans for a diesel version and an AMT version for this brand. This brand will be here for a long time for sure.