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Bajaj Auto Managing Director Rajiv Bajaj has an explanation for why many brands fail. At the CNBC-TV18 Global Leadership Summit 2024 on Thursday, November 14, he said consumers are drawn towards distinctiveness, not just quality. Using Pulsar as an example, Bajaj explained how his company stood out from competitors like Hero Honda and captured a unique market space.
"Brands fail primarily because most products and services are launched to serve an existing market, not create one," he said, adding that businesses should aim to offer consumers something that not only meets expectations but also stands out as unique and difficult for competitors to replicate. Reflecting on Bajaj Auto’s journey, Rajiv Bajaj recalled how the company initially trailed Hero Honda in the domestic market. Rather than directly competing in the 100cc segment, where Hero Honda was dominant, Bajaj Auto took a different route to carve out its identity.
Also Read: These 3 Mahindra SUVs received top 5 stars in Bharat NCAP safety tests Bajaj cited the launch of the Pulsar, a sports motorcycle, as a pivotal moment, noting, “At Bajaj Auto, we learnt that people don’t buy better; they buy different.” By focusing on a unique product, Bajaj Auto outperformed Hero Honda in international markets, though Hero maintained its dominance domestically. Discussing the competitive landscape in India, Bajaj directed a jibe at new electric vehicle (EV) entrants, referring to them as “upstarts” lacking depth in experience.
“ Fark bohot hai tumhare aur humare taaleem mein; aapne ustaadon se seekha hai aur humne haalaton se ,” he remarked, suggesting that his experience, shaped by real-world challenges, sets Bajaj Auto apart from these rivals. Quoting Bollywood star Shah Rukh Khan’s line, “J o kuch nahi karte hai woh kamaal karte hai ,” Bajaj reiterated his vision for Bajaj Auto to remain steady and impactful without unnecessary fanfare. Bajaj Auto continues to invest in EVs, particularly in e-scooters and three-wheelers, with plans to launch a new CNG motorcycle, Bajaj confirmed.
Also Read: 'I was against hybrid vehicles but I changed my mind,' says Union Minister Piyush Goyal.
