Founded in 1982, Maruti Suzuki India Limited, previously known as Maruti Udyog Limited, is an automobile manufacturer based in India. The company is half-owned by Suzuki Motor Corporation. Maruti Suzuki has been evolving since its establishment in Indian market and has been able to become a part of every generation of Indians. They took it as an inspiration to go beyond traditional boundaries of car-making. They combined design and technology to fulfill the needs of the customers of the new technologically influenced generation. Maruti Suzuki has consistently been in the top five of the rankings of the country which shows that it enjoys high brand equity.
Brand Awareness
They have done extra effort to increase their brand awareness, especially through their advertisements. These advertisements have contributed towards the brand’s awareness in the target market. Moreover, they also involve in extensive research before launching any new product or strategy to make sure they launch something that meets the customer’s needs and demands. Through these strategies, they are able to further increase the awareness for their brand.
Brand Loyalty
With companies like Maruti Suzuki which operate in the automobile industry, their brand is not only recognized by the kind of product that they sell but also the kind of after-sales services that they provide to their customers. Similar is the case with Maruti Suzuki, they have tried to gain and then maintain their customer’s loyalty through their services, including their loyalty programs through which they try to maintain long term relationships with their customers. Due to such services complemented by the quality of their products, they have been able to retain their customers and there are customers who have associated themselves with the brand over generations now.
Brand Image
Maruti Suzuki has successfully developed their image in the minds of the consumers and the company is believed to be the automobile company that has been in the Indian market for many decades now and they offer products that provide comfort with affordability. This kind of image is also portrayed by the brand through their brand campaigns and advertisements. They have also been known as one of the influential brands in the Indian automobile industry, which shows that they have a good image in the perception of the consumers.
Brand Elements
The brand elements for Maruti Suzuki include their logo first, which can be seen on all of their products and have been there for many years now. This logo is their identity and the consumers can easily relate to that as the logo conveys the name of the brand. Moreover, they have used various celebrities in their advertisements and they also become the identity of the brand. Many of the consumers relate the brand with those influential personalities who endorse the brand.
One of the factors which has contributed a lot to their high brand equity in the Indian market today is their experience in the market. Since the brand has been there in the industry for a very long time now, they have experienced ups and downs and have always worked on improving their product offerings and services. When a brand has spent many decades in a particular market, working constantly towards innovation and new offerings, it is natural for them to have such high brand equity.
References
About Us. Retrieved March 13, 2018, from https://www.marutisuzuki.com/corporate/about-us
Maruti tops NM Incite India’s Social Media Brand Equity Ranking. Retrieved March 13, 2018, from http://bestmediainfo.com/2012/08/maruti-tops-nm-incite-indias-social-media-brand-equity-ranking/
Pti. (2015, September 16). Maruti Suzuki the most influential brand, says study. Retrieved March 13, 2018, from http://www.thehindu.com/business/Industry/maruti-suzuki-the-most-influential-brand-says-study/article7659234.ece