MUMBAI: ‘Moving the masses’ was the theme of Bajaj Auto’s VP and business development and marketing R L Ravichandran’s session. Are finance schemes only for the salaried class? Is there a significant section of the society other than service class?
“Yes,” says Ravichandran. “He could be a watchman or a vegetable vendor or a farmer. The estimated size of this unorganized class is 10 million households in the country.”
The only concerns being:
1) His ability to pay
2) His intention to pay
3) Traceability in case of default
What this class lacks:
1) Income proof
2) Strong banking habits
3) IT returns
4) Strong guarantors
Taking us through ‘The 999 story;’ a film designed by the company capturing how they broke into the SEC E markets and how they converted a not so well doing bike ( Boxer) into reaping great profits.
The film showcased how innovative marketing and distribution techniques along with a personal connect and playing with the psyche can do wonders in terms of converting habits and break into a market successfully. The marketing was simple. It was catering to the aspirations of a common man as well as providing him the means to do so. A session that just could not have been missed!