Case: Client is Automotive Industry with both commercial and passenger vehicles. Their commercial sales are 65%. Their market share has been decreasing every year since last 3 years. Suggest how to revive sales. It is a market leader and assume no effect of Covid-19. Guesstimate: Total amount invested in mutual funds in India in a year.

Question

Accepted Answer

To revive sales for the automotive industry client, focus on improving marketing strategies, expanding product offerings, and enhancing customer experience.

Analyze the market trends and customer preferences to identify the reasons for decreasing market share
Develop targeted marketing campaigns to promote commercial vehicles and increase brand awareness
Introduce new and innovative features in commercial vehicles to attract customers
Expand the product portfolio by introducing new models or variants to cater to different customer segments
Improve customer experience by providing excellent after-sales service and addressing customer feedback
Strengthen relationships with dealerships and provide incentives to boost sales
Invest in research and development to stay ahead of competitors and offer technologically advanced vehicles
Collaborate with fleet operators and businesses to increase sales in the commercial vehicle segment
Offer attractive financing options and discounts to encourage customers to make a purchase
Monitor and track sales performance regularly to identify any further improvements needed

Accepted Answer

[Please note that I stands for Interviewer and C stands for Candidate]

Started by rephrasing the Problem statement and clarifying questions using the CPCC approach. The interviewer quickly gave all the answers and did not wait for me to complete my questions.

C: What are the types of trucks in the product mix?

I: 16-ton, 22-ton, 30-ton, 40-ton, trailer.

C: How are the trucks sold.

I: Typical truck selling.

C: Since these are trucks, can I assume that major sales are happening in rural areas and tier1/tier2 cities? (It was a wrong assumption completely. The product was trucks and not tractors.)

I: Not at all, these are trucks being bought in fleets by industrialists and given on lease to truck drivers. The major sales happen in metro cities and tier 1 cities.

C: Do we have any offline and online distribution channels? Also, has there been a change in the industry due to which sales are overall declining? (Again, wrong assumption, since the question clearly stated market share was declining)

I: Can you please ask question again? Also, can you tell me what do you understand by market share?

C: Explained the answer correctly this time. And rephrased my question to are there any changes in competitor strategy?

I: No online sales. As per industry practice, 95% sales happen offline. Also, there have been some new technologies introduced by competitors, but it has not affected our client. They are market leaders, so we can assume that it cannot be basic issues.

C: Started asking some more questions.

I: Okay, please tell me your overall approach, no need to explain the entire case.

C: Summarized the situation till now and pointed out the key areas where we can look to understand drop in sales and how it can be improved.

I: Okay. I was looking for Region specific questions. The sales only declined in the South Region. No problem. Let us solve a guesstimate now.

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