Ratan Tata admits his mistake

While talking about the Tata Nano Car, the chairman Emeritus of Tata Sons, Mr. Ratan Tata, reportedly said, that it was a big mistake to brand the Nano as a cheap car, instead it should have been branded as an affordable car, a one that well fits in within a budget, while providing all the much needed necesseties for driving it. Labelling the Tata Nano as a cheap car was a big mistake, and one of the major factors reagrded towords the failure of the car’s popularity.

 

While Mr. Tata was there at the 11th convocation of the Great Lakes Institute of Management, also reviewed a few students while passing on his insights. While answering the questions at the event, Tata admitted his mistake by putting a acheap lanel on the nano, that made rifts in the market, stopping the buyers, who never wanted to be tearmed chep, while investinga nd owning in a Tata Nano. Mr. Tata gave his inputs to the students to focus on working upon things in life, that could make a diffrence to the people, and focus on making and inventing products to change the lifestyles, percpective and the thinking of a common man, so as to prosper and grow in order to provide business to themselves.

 

After this event, the media got to interact wth him, and the Nano question came in to existence.He mentioned that the Tata Nano was designed targetting the youth, aged 25-26 years olds. According to him, Nano was designed in order to serve the common man. He also quoted that he along with his companies and staff, they all together work upon long term goals, and not just profit. Talking about his future intentions, Mr. Tata aims at investing into the health and connectivity domians. In accordance to him, there is scope on the e-commerce and etailing in our country, andb that would re-define the process of merchandise and advertising from here on.