Financial Daily from THE HINDU group of publications Wednesday, Jun 09, 2004 |
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Marketing
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New Products & Services TI launches cycle with turbo drive Our Bureau
Mr G. Hari, President, TI Cycles (right), and Mr Mohit Khattar, Vice-President, Sales and Marketing, at a press conference in Chennai on Tuesday. Shaju John
Chennai , June 8 THE latest souped up vehicle to hit the market is a turbocharged... cycle. Coming from TI Cycles, the Hercules MTB (mountain terrain bike) with turbo drive is everything that the 9-15-year-olds would want to stay ahead of the pack, according to Mr G. Hari, President, TI Cycles of India. "The turbo drive MTB is something with power, speed and agility that kids can look up to; so who better than Yuvraj Singh, for the brand ambassador? The company has roped in the hard hitting cricketer, whose style is in sync with the Hercules MTB." The promotional will be on air from Wednesday, Mr Hari said. So what does a turbo drive do to a cycle? It makes it go faster, of course, but with less effort. The Hercules MTB has been found to be faster than any of its equivalents in the market, according to Mr Mohit Khattar, Vice-President Sales and Marketing. Most kids get tired of pedalling a cycle after about half an hour. "It is the repetitive action that tires them." TI Cycles, of the Murugappa group, recognised this and went back to the drawing boards. The result: Hercules MTB turbo drive that sports a modified crank and a heavier chain wheel that give the cycle the additional thrust for a `faster and more thrilling' ride. According to Mr Khattar, it will be available in eight models ranging between Rs 2,000 and Rs 2,800 depending on size and accessories. TI is the market leader in MTBs with a share of about 50 per cent, according to Mr Khattar. It sold about eight lakh MTBs last year. The bicycle market is segmented into the standards, consisting of the no-frills roadster, the choice of the rural market, and the specials consisting of the BSA SLR range, the kids' range, the juvenile range and the MTB, that is `real special.' The company also expects the turbo drive to push up sales that will make the market grow at 15-20 per cent. In an informal chat with reporters, Mr Hari said that TI is also planning to expand its presence in the health equipment market. The company has major growth plans for this segment later in the year.
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