Ceat lays out road for premium play
Ceat plans to revamp its brand positioning strategy to target SUV owners and adventure bikers as it tries to position itself as a premium tyre maker.
The company currently has a basic product range and will be launching tyre sizes over the next two quarters for SUVS and motorcycles.
This shift aligns with the growing trend of Indian consumers purchasing SUVS and travelling long distances for leisure purposes. The passenger tyre market totals around 2.5 million tyres per month, and Ceat holds approximately a 17 per cent share. Previously focused on urban commuting safety, the company is now aiming to position itself as a brand for exploration. This strategy recognises the growing popularity of SUVS and the desire for adventure travel among Indian consumers.
Speaking on the strategy change, Arnab Banerjee, managing director and chief executive officer of Ceat said: “We shifted our communication strategy to
target a new audience: explorers. With the rise of SUVS and people taking longer road trips, we want to be seen as the go-to brand for safe and controllable tyres for exploration, both on and offroad. This is a change from their previous focus on urban driving for all vehicle types.”
“We will achieve this through targeted communication and ensuring a seamless customer experience across all touchpoints. The challenge here will be to consistently deliver on this new brand image over time,” Banerjee added.
The company plans to reach its target audience through various touchpoints. This includes mass media campaigns, a presence on online marketplaces, and a network of exclusive dealers. The company is also investing in a startup that provides convenient home tyre fitment services.
The company has already launched products for the SUV and luxury segment like their Crossdrive, Securadrive SUV and Sportdrive, and steel radials for high-performance motorcycles. They will be launching new tyre sizes throughout the next three quarters catering to these segments. The company also plans to launch more tyres for motorcycles and off-roading in the coming quarters.
While the current focus is on the Indian market, it aspires to be a global brand for explorers.
The company plans to leverage its presence in international markets to cater to the needs of adventure travellers worldwide.
This shift in strategy positions Ceat to capitalise on the growing trend of adventure travel in India and potentially position itself as a global leader in catering to the needs of adventurous drivers.