Innovation and Market Share: Evaluating Maruti Suzuki’s Growth in the Indian Market

Abstract

Companies plan to increase market share through innovation. Market share refers to the percentage a company controls of the total market for its products and services. Through process and product innovations companies try to capture their market share and maintain it by making their consumers loyal. In this article, the authors assess the continuously growing market share of Maruti from 38 per cent to 58 per cent from 2010 to 2021 through innovations – product, process, marketing and organisational and rein as the market leader in Indian automobile industry. The authors rely on Oslo Manual that focuses on four innovation categories - product innovation, process innovation, marketing innovation and organisational innovation as the methodological framework to assess Maruti’s growing market share through innovation.