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Title of the Project Vehicle Life Cycle Management of passenger cars in India Rationale for the topic: Indian

economy is experiencing a boom and the growth rate is one of the highest in the world. The per capita income in India is accordingly increasing steadily resulting in increased disposable income at customers end. In India there is a radical change in the automobile industry as more & more citizens are aspiring to own vehicles. Today cars are seen not just a medium of transportation, rather a status symbol, luxury & lifestyle statement. Hence, many automobile manufacturers, both Indian & Global, are spreading their presence in India to take advantage of high demand prevailing in Indian market. However, businesses must focus on managing the product lifecycle of passenger cars since it is one of the most important factors to become successful. In the absence of the same, it is going to be highly difficult to stay competitive and make profit at the same time. There is a need to customize this management as per Indian conditions and the best possible approach has to be adopted. Objectives of the project Study the different phases of product life cycle of passenger cars Analyze the current scenario of passenger car market in India Understand the challenges during two of the most crucial periods Development of a new car Decline stage

Suggest optimum ways to tackle the above mentioned challenges Propose an optimum approach to managing a cars life cycle in India.

Methodology and Procedure of work The information has been sourced from various authentic and reliable sources like books, newspapers, trade journals and white papers, industry portals, government agencies, trade associations, monitoring industry news and developments, and through internet databases. Also, it involved discussion with members of various car manufacturing companies, automotive societies, industry analysts etc. Also more with the auto giant Toyota with whom I am associated. Limitations of the project The PLC is a dependent variable which is determined by market actions; it is not an independent variable to which companies should adapt their marketing programs. Marketing management itself can alter the shape and duration of a brand's life cycle. Some of the key limitations of using PLM, as applicable to cars, are: a. The shift changes in the demand of cars along a period of time makes the distinction of the product life cycle phase very difficult, the duration of those almost impossible to predict and the level of sales of passenger cars somewhat in the realm of the imagination. b. There are few examples of cars that do not follow the usual shape of the product life cycle c. The product life cycle does not entirely depend on time. It also depends on other parameters such as management policy, company strategic decisions and market trends. These parameters are, however difficult to be pinpointed.

The model of product life cycle also depends on the particular product. There would be different models and so different marketing approaches. There are basically three different types of products: a product class (such as cars), a product form (such as a station wagon, coupe, family car etc of a particular industry) and a product brand of that particular industry (such as Ford Escort). The life cycle of the product class reflects changes in market trend and lasts longer than the life cycle of the product form or brand. On the other hand the life cycle of a product form or brand reflects the competitiveness of a company (i.e. sales, profits) and therefore follows more closely the product life cycle model.

Thus, the life cycle may be useful as a description, but not as a predictor; and usually should be firmly under the control of the marketer. The important point is that in many markets the product or brand life cycle is significantly longer than the planning cycle of the organizations involved. Thus, it offers little practical value for most marketers. Even if the PLC (and the related PLM support) exists for them, their plans will be based just upon that piece of the curve where they currently reside (most probably in the 'mature' stage); and their view of that part of it will almost certainly be 'linear' (and limited), and will not encompass the whole range from growth to decline. Directions of future study & Scope of the Project: This study applies to the lifecycle of passenger cars in India although some of the concepts can be implemented at global level. Also, the challenges analyzed & solutions provided are described assuming normal market conditions in a competitive environment. The optimum solutions which are provided are applicable to cars of all sizes & in all segments. At the same time, the market extension strategies which are recommended in this report take into consideration Indian consumers buying behavior & their state of mind.