Marketing Strategy Of Swiggy – Swiggy Marketing Strategy: Swiggy was established in 2014 by Nandan Reddy, Sriharsha Majety along with Sriharsha Majety. The company offers a courses food ordering and delivery service that has its headquarters situated in Bengaluru, Karnataka. It is present in more than 25 cities across India and includes cities such as Bangalore, Chandigarh, Chennai, Coimbatore, Dehradun, Delhi, Gurgaon, Guwahati, Hyderabad, Indore, Jaipur, Kochi, Kolkata, Lucknow, Ludhiana, Mumbai, Mysore, etc.
Today, the value in this marketplace stands at $1.3 billion. Swiggy is part of Bundle Technologies Pvt. Ltd. and is aiming to connect restaurants with eateries of the city. Serving food to the masses is the principal method for Swiggy. The most popular customers from Swiggy are Burger King, Goli Vada Pav, and Cafe Coffee Day, and many more.
Swiggy is determined to stand out by providing a list of services and restaurants and owns a fleet that picks food orders at restaurants and delivers the food to customers. Swiggy has raised $1.5 Billion and has been expanding into major cities in India.
Did You Know About Swiggy?
Company : Swiggy
CEO: Sriharsha Majety
Founder: Sriharsha Majety | Rahul Jaimini | Nandan Reddy
Year founded: July 2014
Headquarters: Bangalore, Karnataka, India
Annual Revenue: US$370 million
Profit | Net income: US$−500 million
Products & Services: fruit and Vegetables, kiranas and supermarkets, florists, health supplements, medicine, baby care products and swiggy food delivery
Competitors: Zomato | DoorDash | Uber Eats | GrubHub | Postmates | Deliveroo | ChowNow | Caviar.
Swiggy Fun Fact: Swiggy’s highest dessert order value till date was when a customer ordered ice cream worth ₹76,527. 10. It has been a full five years since Swiggy has been launched, and as per Swiggy, they have come a long way. 5,11,45,09,008 km has been traveled by Swiggy’s delivery executives in the last five years of delivery.
Marketing Strategy of Swiggy – Segmentation, Targeting, Positioning
Swiggy’s demographic segmentation concentrates on the younger age group. The segments of ages comprise teenagers who enjoy having food delivered to their doorstep. The next targeted group is the college students, as well as those working in offices and are unable to travel to their preferred restaurant.
The main focus has been on the millennial customers and all branding-building initiatives have been put in place to create Swiggy the most popular app for food delivery. According to the premise of behavioral segmentation, the company has discovered a group of customers who seek convenience in food and are more comfortable staying at home with fast meals.
Psychological segmentation is targeted at the person who thinks it’s more convenient to have food delivered rather than drive to the restaurant and bypass all traffic in the city. Swiggy is a service that targets customers who are looking to lead an easy life.
Swiggy has been able to serve a large target audience. the audiences are diverse in age, behavior, and ages. When you look at the size of the Indian market the company has a large audience to reach, but the primary and best group is those aged 18-35.
They are working professionals, college students, and business owners who enjoy a luxurious lifestyle and reside in the most luxurious locations.
Swiggy has transformed the concept of delivery of food more than just an extended arm of restaurants and has made a profit from this industry. The principal position approach for Swiggy is to create an application that allows customers to get the food they want anywhere they’d like.
Every marketing effort made by Swiggy has created an image Swiggy provides convenient and simple for customers. They promise the top customer service and hopes to make every customer happy, as well as partner restaurants and customers completely satisfied with its services.
It’s poised to revolutionize the way that people consume their food. It is based on the principle it is “no customers go hungry” and allows customers to connect to their favorite restaurants at one click.
Swiggy Mission Statement
Our mission is to change the way India eats.
Swiggy Vision Statement
It is the first milestone in Swiggy’s vision to elevate the quality of life for the urban consumer by offering unparalleled convenience, he added. Swiggy Stores will give its merchant-partners unmatched access to a combination of core assets to reach more existing and new customers
Swiggy karo, phir jo chahe Karo!,
Marketing Strategy of Swiggy – Competitive Advantage
The intense focus on logistics
Swiggy strives to manage the whole value chain of customer experience. This strategy has been a huge help in winning in the marketplace. Swiggy has been able to do several things right, and among the most notable is its concentration on operations and logistics.
Swiggy right from the beginning realized that the only way to break into the delivery market was necessary to create a large logistics network, thanks to which Swiggy has created a reliable and profitable business model that is sustainable.
The business strategy
Swiggy is a late entry to the courses food delivery and ordering market in 2014 but is now a billion-dollar business and Zomato is playing catch-up. Swiggy is home to its expanding number of delivery partners and is constantly growing, and currently has 1.25 lakh, active customers.
This has enabled Swiggy to fulfill its promise of delivering food in 30 minutes for customers who only need tapping. Swiggy recently introduced its Swiggy Access kitchen, which is the kitchen ready to be used that offers restaurant partners renting for free and with all necessary facilities. Swiggy is aiming to offer assistance for restaurant owners to improve their kitchens about demands projections as well as stock scheduling and order editing and more.
Innovative strategies such as these are a key aspect of distinction to Swiggy.
Swiggy is a company that specializes in food technology and is a platform for logistics and Swiggy heavily relies on technological advances to ensure that restaurant owners and customers get the most efficient services. Every aspect of the situation is analyzed by using data analytics such as the traffic patterns, which can predict the time needed to prepare the restaurants based on the number of orders, the location of delivery personnel to provide them with the time for delivery and provide a guarantee to customers who are the final ones.
Restaurants that are partners receive the most recent snapshots of all the most important operational metrics as well as the entire financials. At the back, Swiggy has analytics engines that analyze data from customers to identify their preferences and aids Swiggy to partner with the best restaurants.
Marketing Strategy of Swiggy – Distribution Strategy
Swiggy uses the strategy of providing Hyperlocal item delivery. It also has a service diversification strategy. It’s not just to provide delivery services for food items, but it is also planning to develop a delivery system for medicines as well as grocery gift shops, gift shops, and flower shops to take an increased share of the delivery market in India.
This is the idea behind “Swiggy stores” which will be initially launched in Gurugram and is already in partnership to open 3500 locations. The company also plans to expand its services to all emerging cities of India and to capture some of the portions of the market.
Swiggy is a business with a plan to acquire restaurants and also its delivery partners. Swiggy uses an arrangement of dual partnerships that helps both the customers as well as the restaurants that get food orders.
Marketing Strategy of Swiggy – Brand equity
Swiggy has perfected the idea of delivering food directly to the customers, rather than the restaurant customers going there to eat. Swiggy has become the preferred app when it comes to providing food to their doorsteps. Swiggy has grown in popularity among the young people of India.
Swiggy is now looking to establish kitchens in conjunction with restaurants to generate more revenue. It is also looking to expand its services into Swiggy shops and also expand its delivery services to different services. According to a study, restaurant owners claim they get 50percent of their orders from Swiggy and 20- 25% from Zomato.
Swiggy certainly has a bigger percentage of the market in its delivery sector and is among the top-funded businesses in India. Swiggy’s company’s name Swiggy has become synonymous with quick food that customers can taste and growing the operations of Swiggy could prove to be an effective plan.
Marketing Strategy of Swiggy – Competitive Analysis
It is estimated that the Indian marketplace for food delivery is estimated at $16 Billion and is expected to grow exponentially. It is now an extremely competitive market. Swiggy faces stiff competitors against Zomato and other startups ups such as Foodpanda along with Faasos.
Uber Eats has also been taking over Swiggy’s market share offering quality and affordable food to price-conscious Indian customers. In the cities of Mumbai in addition to Bangalore, Google has also introduced its delivery service known as Areo.
The competition is growing more challenging for Swiggy. Both Swiggy, as well as Zomato, have been increasing their expenditures through discounts and incentives in the battle for supremacy. The current amount of burning at Swiggy is estimated to be over $16 million, and Zomato is estimated at $17-18 million.
Swiggy requires to be more innovative regarding its approach to business to keep ahead of the pack.
Marketing Strategy of Swiggy – Customer Analysis
Swiggy has two main clients, restaurants from which it receives commissions and also serves as a delivery company, and the second customers are those who place orders for food via the app. The major segment of customers is those who don’t wish to travel to restaurants and restaurants to purchase food items.
Customers who wish to purchase food courses and have them delivered to their homes. The latest growth of businesses is through grocery stores as well as electronics, flower as well as gift stores.
Marketing Strategy of Swiggy – Promotional Strategy
Swiggy has become a well-known brand, and not just due to its excellent services, but also because of its superior marketing strategy for its social networks. On Facebook the platform, Swiggy has the most followers, which is the highest in comparison to its competitors. Each campaign by Swiggy is unique because they are highly captivating and extremely interactive.
The posts are lightand attractive, are of excellent quality, and are humorous inspired. Campaigns such as #SuperSwiggy, #EatYourVeggies, and #EarnYourCheatMeal emphasized the importance of healthy eating through humorous puns and one-liners. Swiggy also employed influencers to advertise its services.
Swiggy also shows the number of rewards, discounts, and recognition that help build trust in the company to its customers.