Maruti Suzuki might increase its budget for marketing for its product by 5-10 per cent during this fiscal and the company has not given a fixed per cent as of now. Maruti marketing cost for last fiscal was around Rs 357 Crore for brand promotion activities and the sales didn’t see much as there was a prolonged labour unrest and high interest rate. The falling sales were also attributed to the absence of a good portfolio of diesel models in India.
Maruti Suzuki was holding near to a 50 per cent market share recently and now they have got down to 38 per cent in the last fiscal. “The higher provisioning would come on the back of some new launches,” the executive said, without revealing the number of new products that would be rolled out.
“A good amount of this allocation will be apportioned to digital publicity as this will be one key focus area,” the official said, adding that as much as 5-7 per cent of the totals spend will go into digital advertising this year.