Automobile major Maruti Suzuki has just made a change in its executive ranks with Partho Banerjee taking over as the new head of marketing and sales. Banerjee, who previously served as Head of Services, focuses on sustainability and targeted campaigns.
In an interview with Storyboard18, Banerjee talks about the success of the Fronx and Jimny campaigns that doubled the brand's SUV market share in the country. He also touches on the future direction of Maruti Suzuki's marketing strategy, facilitated by increased budget.
As the new Head of Marketing and Sales, what are your top priority areas for the coming year in terms of driving growth and strengthening the brand's positioning in the market?
As Head of Marketing and Sales, my primary focus is to maintain the current momentum even though the industry is moving towards slower growth this year for a variety of reasons. .
To achieve this, we prioritize a customer-centric approach and ensure that all our efforts, from brand building to product interventions, are closely aligned with consumer needs.
Moving on to the two big launches of the year, what were the key strategies that contributed to the successful launch of the Front and Jimmy models in India and how do you build on this success with future launches? Is it planned?
Let's talk about recent releases. The Fronx campaign in particular was a great success. This significantly increased his SUV market share from 10% to 20%. The design-focused campaign resonated with the target audience. Fronx became India's best-selling car and in just 10 months he reached sales of over 100,000 units. This is evidence of the campaign's effectiveness and connection with customers. The Jimny campaign was also very popular.
With four strong SUVs in our portfolio and a market share of 20%, we are currently the second largest player in this segment.
Maruti's campaigns continue to grow in scale year by year, but are marketing and advertising costs increasing as well? What is the media mix like?
Our total marketing expenditure for fiscal year 2023 (ended March 31, 2024) amounted to approximately Rs.1,100 billion. Broken down, TV advertising accounts for about 35 percent of the budget, followed by digital marketing at 30-33 percent. Print media accounted for around 18%, with the rest of the budget allocated to other channels. We definitely expect an increase in marketing spend next year.
Check out the full interview with Storyboard18.
