your password has been reset successfully, Please login again.

Three Key Areas Where The Automotive Industry Should Focus To Partake Success

Automotive industries should imbibe important changes to attain success
BY Jaspreet Kaur
Feature Writer, BusinessEx
Nov 29,2018

With the technological intervention escalating the innovation parameters, the industries are rapidly searching for novel ideas to grab customer attention. Rendering efficient and quality services are benign offerings to comply with the standards. Besides these services, the automobile industry in India, as well as abroad, needs to imbibe new practices so as to give a cutting-edge performance. Even, emerging with a disruptive idea has become a convention and consequently, begets a perplexed situation amid automotive companies.

Essentially, innovation is not merely correlated to disruptive technology. It can be associated with novel facilities that automotive companies can provide to escalate the customers experience. While rendering these facilities, it is not imperative for automobile manufacturing companies to put in new technology in the manufactured output. To improve the services, the automobile companies can focus on other aspects too such as becoming responsive to customer needs and giving out customized services.

3 Imperative Areas To Attain Success In The Automobile Industry

The Indian automobile industry is expanding at a faster rate and inciting capitalists to explore the automotive market. Even, in accord with Indian Brand Equity Foundation report, India is expected to become a leader in shared mobility by 2030, providing opportunities for electric and autonomous vehicles. Shifting focus towards electric cars can also provide opportunities in the sector.

The impressive stature of the automobile industry is exemplary of its growth opportunities. Releasing these opportunities can only be possible if the automotive companies alter its approach with the changing time, and adopt necessary measures.

  1. An Augmented Way Of Manufacturing

Earlier on, quality, durability and efficiency were determiners to choose the product. These key factors are still considered but some other factors have been to assess the product. Herein, the additional elements can be rendering shop floor automation, increasing end-to-end visibility and optimizing the resources.

Today, the customers needs are diverse and owing to which, the automobile companies need to provide personalized, augmented services. So, keeping this in mind, the additional factors should be added to reach greater customer satisfaction.

  1. Employ The Use Of Analytics And Big Data

Like other industries, the automobile companies also garner data and use analytics to foresee market opportunities, the gap in the market and abrupt inflations. If the garnered data can be effectively employed then it can resolve various problems relating to changing customer preferences and market trends.

Employment of analytics and big data facilitates in monitoring operations and administering customer engagement. Further, it equips the automobile industry with strategies to endure economic challenges.

  1. Coping With The Changes

While implementing new strategies, the success rate is determined by customers behaviour. If the customers seem more engaged by the new technology then their satisfaction is certain. Besides ascertaining new strategies, there is another thing that the industry needs to deal with that is, training the workforce.

Training the employees is imperative so as to alter the companys approach. Talking about the aged workforce, training the old-aged employees is comparatively difficult as they lack agility and efficiency. Thus, it requires a lot of efforts to direct them; though, personalized training can be offered so as to help them imbibe new technology and variations faster.

The automobile industry should imbibe these changes in order to sustain the market challenges.

Please add your Comment
SIMILAR Articles
February 21, 2019
Keeping a vigilant eye on the economy is essential for investors as well as investors-to-be. ...More
By Jaspreet Kaur
February 14, 2019
Today, insistent entrepreneurs are opting-in the industry and help create a positive outcome in the ...More
By Jaspreet Kaur
February 12, 2019
Plainly trusting on the success rate of the stocks and betting your hard-earned money into plans can ...More
By Jaspreet Kaur
February 09, 2019
Oodles of hard work and knowledge need to be imbibed to become a good businessman ...More
By Jaspreet Kaur
February 08, 2019
Success is not only relatable to startups; it can be achieved by acquisition of failed ventures also ...More
By Jaspreet Kaur
February 07, 2019
One can earn good revenue from waste management business besides creating positive impacts in the so ...More
By Jaspreet Kaur
February 06, 2019
The enterprises which mainly target children as their customer face lesser struggles since the enter ...More
By Jaspreet Kaur
February 05, 2019
Regulating the waste is a jostling task for the regime, so it's time for young millennials to become ...More
By Jaspreet Kaur
February 04, 2019
An entertainment centre business directly deals with chunks of masses and thus, promotion precipitat ...More
By Jaspreet Kaur
January 31, 2019
To find the root cause, employers need to dive deeper into the problem and the results were totally ...More
By Jaspreet Kaur
January 31, 2019
Reckoning the candidates completely is not fair; an employer should consider crosschecking his backg ...More
By Jaspreet Kaur
January 30, 2019
Hiring a software company for the work is like employing the candidates in the company ...More
By Jaspreet Kaur