Ola electric scooter strikes gold
This isn’t the first time a company has analyzed the potential of “the road not taken”.
Rs. 1,100 crore in just 2 days.This means, selling 4 electric scooters in 1 second.
Do we think this was sheer luck?
No, we don’t believe so.
This wasn’t a half-ass approach.
The product is a result of well-analyzed data and thorough research of what the market wants. Ola has quite neatly examined the minds of their target market.
Marketing and research at best
Run by 10000 women employees
Ola Electric said on Monday that a team of 10,000 women will operate its new facility in Tamil Nadu exclusively by the time it is fully operational.
According to CEO Bhavish Aggarwal, this will be the world's largest women-only factory and the world's only vehicle manufacturing plant.
Since it’s the only factory solely run by a women force, has created a buzz around the market. That’s one example of sheer marketing.
Understood the target market
As per the interview given by Varun Dubey, CMO - There were, surely, many products before this, but they did not meet the needs of the consumers.
Products that came before the Ola S1 made tradeoffs in terms of range, cost, and lack of digital features.
Indian consumers place high importance on quality.
They are value-conscious rather than cost-conscious. They did not believe it was the best product for them.
What they've done with the Ola S1 in terms of performance, technology, and design at a very reasonable price gives them confidence.
They are now able to satisfy that long-felt desire to go electric.
When Ola opened for reservations on July 15, they were greeted with high interest.
Consumers have been telling them since the beginning that they are ready for electric vehicles. Until today, they most likely did not have a product from which to choose.
It is apparent that India and Indian customers have made up their minds that they wish to transition to electric vehicles and reject gasoline. The figures are a clear indication of this.
Sound research based on reliable data
If we look at the product, it screams ‘user-friendly’. And this didn’t happen in one day or a month or maybe a year. The complete product line needed to be backed by data that could help both marketers and engineers understand consumer requirements.
Trust in the brand
Ola has been a trusted brand in the Indian market.
This worked for them.
The idea of experimenting with the “less-explored” but potential market helped a lot.
Brands can take inspiration from what Ola did. They stuck to their brand name and used it to remain a valuable choice. Another added advantage but not really a necessity.
There’s always a possibility of experiments turning into successful investments.
You won’t know until you try!
What now?
The unicorn of Indian ride-hailing Ola has created a frenzy around its electric scooter plans, but the vehicle's long-term success will be determined by a variety of circumstances, some of which are beyond the company's control.
