Electric mobility is crucial for Asian countries, as the transportation sector contributes 24% of global greenhouse gas emissions. With 93 of the top 100 most polluted cities in Asia, Asian countries are on the front lines of climate change. Promoting e-mobility seems to be a promising solution to meet emissions targets and the global 1.5-degree climate change goal.<\/p>\n
The market penetration of battery electric cars (BECs) has improved in the past decade in the U.S., E.U., and Nordic nations; however, emerging economies like India are not witnessing sales growth rates anywhere close to marketers’ expectations.<\/p>\n
Despite a favorable policy framework in India and the adaptation of local car manufacturers like Tata Motors, the demand for conventional petrol and diesel cars is not waning in favor of BECs. Globally, as advanced economies witness slow growth and sales in emerging economies don\u2019t pick up, international marketers like Hyundai Motors, Morris Garage, and Kia Motors must address factors influencing personal e-mobility adoption to increase sales.<\/p>\n
How is India a different market in comparison to western countries, and how can marketers utilize the characteristics of Indian consumers to promote their BECs in the Indian marketplace? This is a pertinent question that needs immediate redressal.<\/p>\n
Researchers at the Jaipuria Institute of Management in Noida<\/em><\/a> conducted a survey and are of the view that consumer emotions significantly influence decision-making, impacting their opinions beyond rational evaluations. Emotions and rational evaluations are intertwined, affecting each other. An examination of the different values that a BEC provides to its owner revealed some pertinent preliminary insights for marketers in India.<\/p>\n In the examination crosshairs were the five values that a product provides, viz., functional, social, emotional connection, escape from boredom, and relative advantage over existing products. Favorable government policies (for example, purchase subsidies, and toll tax exemptions) most strongly influence consumer attitudes toward BECs. Economy-oriented consumers focus on subsidy benefits, while those with an emotional inclination towards pro-environmental products consider subsidies an add-on benefit in their decision-making.<\/p>\n Unlike other advanced economies, consumers value the zero air pollution emissions of BEC. A major difference in India from Western countries is the perception of social image enhancement by the purchase of a BEC, as consumers do not anticipate owning a BEC to enhance their social standing. Also, BEC ownership offers a weak escape plan from the boredom of driving existing conventional cars.<\/p>\n One reason for this is that the Indian marketplace mostly provides electric variants of existing conventional cars. Useful takeaways for the industry include utilizing consumers’ perception of zero air pollution benefits, rolling out new models of BECs to increase the novelty quotient, incorporating knowledge of supportive policy frameworks into promotional campaigns, and making episodic references involving BEC owners receiving appreciation from their known acquaintances.<\/p>\n The full research paper can be accessed here:<\/em><\/strong> Abhinav Sharma, Deepak Singh & Richa Misra (2023): The Role of Positive Anticipated Emotions in Influencing Purchase Intentions of Battery Electric Cars in Emerging Markets, Journal of International Consumer Marketing, DOI: 10.1080\/08961530.2023.2215464<\/strong><\/em><\/p>\nApply Now for MBA^\/PGDM<\/a><\/strong><\/h5>\n
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