Gps Assignment

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GPSIntroduction : 'GPS on bike has a market in India ' The worldwide market for global positioning system (GPS) navigation and locationbased services has been growing exponentially and is expected to rise to 13.4 billion Rupees in 2014, with a high compound annual growth rate. Although still at a nascent stage in India, the GPS navigation market holds tremendous potential for growth, driven by its increasing acceptance among the younger generation as well as the exponential growth in popularity in car as well as in bike. However, unlike developed countries where navigation was established by portable navigation devices (PNDs), followed by vehicles and then smartphones , India is witnessing a reverse trend, says Rajat Tandon, director…show more content…
The fourth stage of market evolution, decline, is still some distance away from the Indian market. In this phase vendors should expect that the product itselfwill become invisible, market reach will be critical, all will need to look at new markets within existing segments. From a consumer perspective it will become a commodity product, people with new toy syndrome would change devices periodically and price would be the only factor when taking decisions. The net result would be similar to what the mobile phone market is undergoing and volumes would be huge. Companies Like bajaj, Tvs, Yamaha. need to watch for the above phases and evolve their business plans such that they emerge as leaders. The challenges are many; the customs duties on import of GPS devices are very high. There is enough market for all players and it is important to encourage competition as an engine of growth. Overall, I can safely sum up that while the past has been exciting and we have lived in ‘interesting times’, the future is going to be all the more interesting and exciting than anyone has ever imagined. Several new markets will be created and leaders will be made of existing companies or born out of new ones in this space. Let us look forward to a huge growth in the coming years so that we can sit back and smile when it actually does come our way. Cultural implication for gps entry in Indian market… Cultural impact of GPS
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