Godrej Marketing Strategy – Marketing Strategy of Godrej: The company was founded in 1897 and has been in operation in the country ever since the Swadeshi movement. After a series of unsuccessful attempts, Ardeshir Godrej, a lawyer-turned-entrepreneur and founder Godrej entered into locks that led to the company’s success.
Godrej emerged today as a conglomerate with businesses in many industries, including Consumer goods and Real estate.
Godrej At A Glance – Marketing Strategy of Godrej
Company : Godrej Industries Ltd
CEO: Adi Burjorji Godrej
Founder: Ardeshir Godrej | Pirojsha Burjorji Godrej
Year founded: 1897, Mumbai
Annual Revenue: US$1.51 billion
Profit | Net income: US$−332.94 million
Number of employees : 4,285
Products & Services: Aerospace | Agriculture | Consumer goods | Home appliances | Chemicals | Construction | Electronics | Furniture | Real estate | Security solutions | Infotech
Competitors: Dabur India | Glenmark Pharmaceuticals | Hindustan Unilever | Marico | Adani Enterprises | International Holdings | Bleach Chem | The Bombay Burmah Trading | Aditya Birla Group | Tata | ITC
GodrejFun Facts: The wardrobe manufactured by Godrej not only protected valuables from thieves but were also fire-proof.
Marketing Strategy of Godrej
Godrej‘s Marketing Strategy covers various aspects of the business right from segmentation and targeting to the overall mission and vision of the company and the various parameters which the company executes to become the top brand that it has in the market. So what is the Marketing Strategy of Godrej? Let us discuss.
Segmentation, Targeting, Positioning – Godrej Marketing Strategy
Segmenting the population based on similar demographic characteristics is the only way to cater to the needs. Godrej uses a mix of demographics geographical and psychological segmentation variables like income class, occupation, gender, region, etc.
The company uses a differentiated and selective targeting strategy to offer different companies in its group.
Godrej employs a value-based and user benefits-based positioning strategy to emphasize the intrinsic culture of brands and the attachment they have had with customers over the years.
Godrej Mission Statement
“To help people live better lives by helping them realize their potential”
Godrej Vision Statement
“To be 10 times the size the company was in 2010 by 2020”
“Ideas that Makes Life Better”.
Competitive Advantage – Marketing Strategy of Godrej
1. Big Conglomerate: Godrej has grown to be a large conglomerate, offering services and products that range from security to real-estate solutions to Agri products. The company has a wide range of experience in a variety of businesses, which helps it to support the businesses and become a major player in the market.
2. Vast experience: The company is more than 120 years old, has extensive business experience, has properties in some of the most prominent locations, and is financially strong. This helps it to be competitively ahead of its competitors.
BCG Matrix – Godrej Marketing Strategy
Godrej’s business segments can be grouped into three categories: Godrej Consumer Products, Godrej Properties, and Godrej Agrovet Limited (GAVL).
These businesses are the Stars of the BCG matrix. The consumer products vertical and Godrej properties are the stars, while Agrovet, which is still in its infancy, is facing fierce competition from peer companies.
Distribution Strategy – Marketing Strategy of Godrej
The Company has its own sales channel and authorized resellers, distributors, and retailers who assist the brand to make its products available to remote areas of the country.
The Company has its own sales team to promote the company’s products and services.
Brand equity – Godrej Marketing Strategy
Godrej was ranked 51 on the Forbes list of innovative growth companies. According to the market capitalization value method, the brand is valued at $ 8.8 Billion and generates revenue of $ 4.6 Billion.
It has been ranked 2 and the most trusted brand in India.
Competitive Analysis – Godrej Marketing Strategy
The brand’s presence in large product categories, along with large stock keeping units (stock holding unit), such as in-home care, has resulted in offerings such as Goodnight and Hit for mosquito killing, EzeeValon, in personal Cinthol as well as Roby, Renew, Roby, and many other.
The company can be competitively ahead of its peers by being present in the market with so many options
It is in direct competition with companies like HUL and P & G. It has competitors in the FMCG sector, while it has competition in the real estate segment with Jaypee builders and Tata.
Market Analysis – Marketing Strategy of Godrej
The macroeconomic environment continues to be impacted and influenced by socio-political, and economic uncertainty. The international company is facing the double challenges of declining growth and increased exchange risk. The company’s focus is on innovation and customer-centricity to capture the huge opportunities within emerging markets like the Asia-Pacific, Africa, Latin America, and other regions.
Customer Analysis – Godrej Marketing Strategy
Godrej’s retail customers are between 20 and 60 years old. The company’s brand recall, strong brand image, and many customers are acquired through these two channels.
Godrej caters to the needs of companies in various industries by offering its services such as Godrej & Boyce and Godrej Industries.
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