The Marketing mix of Eveready analyses the 4Ps of Eveready, which includes the Product, Price, Place, and Promotion of Eveready. Eveready Industries is a flagship company and a subsidiary of its parent company, B. M. Khaitan Group. It is of Indian origins and was launched in the consumer market in 1905. Eveready Industries has occupied the first position in India regarding flashlight and dry-cell battery sales. It is the third-largest manufacturer of carbon-zinc batteries globally, selling billions of units annually. Some of its competitors in the consumer market are as follows-
- Type: Electrical Storage Company
- Industry: Electrical/Energy Storage
- Founded: 1905
- Founder: George Cleveland, Conrad Hubert
- Headquarters: Kolkata, India
- Area served: India and select international markets
- Key people: Amritanshu Khaitan (Chairman) and Amritanshu Khaitan (CEO)
- Number of employees: 4,200
Table of Contents
Eveready Product Strategy
Eveready deals in the marketing and manufacturing flashlight cases, batteries, arc carbons, electrolytic manganese-di-oxide, and photo-engravers strips/plates for castings, printing, carbon electrodes, and tube rods. It has also been associated with the marketing and production of tea.
- Batteries: Eveready is famous for its wide range of batteries, including alkaline batteries, zinc-carbon batteries, rechargeable batteries, and button cell batteries. They cater to both consumer and industrial needs.
- Flashlights and Torches: Eveready manufactures a variety of flashlights and torches for personal, household, and professional use. These products often use their batteries as a power source.
- LED Lighting: Eveready offers LED bulbs, tube lights, and other lighting solutions designed for energy efficiency and longer lifespan compared to traditional incandescent bulbs.
- Home Appliances: Eveready also produces small home appliances like fans, heaters, and kitchen appliances, providing consumers with a diverse range of electrical products.
- Electrical Accessories: This category includes electrical switches, sockets, and other wiring accessories for residential and commercial use.
- Personal Care Products: Eveready has expanded into personal care by offering electric shavers and trimmers.
Eveready Place Strategy
Eveready, headquartered in Kolkata, has become a trendy and renowned brand name in India. At its onset, it imported batteries from the United States and sold them in several places in India. The company set up its first arc-carbon factory 1926 at Canal Road in Kolkata. In 1939, it established a battery plant at Cossipore in Kolkata and another in 1952 at Chennai. In 1958, it set up a manufacturing facility for torches in Lucknow.
Operations are conducted through its Navi Mumbai, Gurgaon, Noida, Hyderabad, Chennai, and Kolkata offices. Eveready has a deep-rooted and extensive distribution network penetrating urban and rural sectors. The channel includes the quick availability of products through retail stores, e-tailing, electrical outlets, printing centers, and traditional networks like general stores, grocery stores, stationery shops, music shops, hardware stores, gift stores, printing centers, and photo studios. A solid and capable sales force handles its sales network.
Here are five key components of Eveready’s place strategy:
- Distribution Network: Eveready maintains an extensive distribution network that includes wholesalers, distributors, retailers, and e-commerce platforms. This network ensures Eveready products are widely available in urban and rural areas.
- Retail Presence: Eveready products are strategically placed in various retail outlets, including supermarkets, convenience stores, electronics stores, hardware stores, and dedicated Eveready retail outlets. This diverse retail presence caters to different consumer segments.
- E-commerce Presence: Eveready recognizes the importance of the online marketplace and has a strong presence on e-commerce platforms. This allows consumers to purchase their products conveniently through websites and mobile apps.
- Merchandising and Shelf Placement: Eveready invests in effective merchandising and shelf placement strategies in physical stores to ensure its products are prominently displayed and easily accessible to customers. Eye-catching displays and signage may be used to enhance visibility.
- Logistics and Supply Chain Management: Efficient logistics and supply chain management are vital in Eveready’s place strategy. Timely replenishment of stock, order fulfillment, and distribution to various retail points are crucial to meet consumer demand.
Eveready Pricing Strategy
Eveready has become an integral part of Indian households through its various products. It is the undisputed leader in the consumer market in the battery segment. The company has put a high emphasis on penetrating every nook and corner of India, hence setting up its pricing policies to capture the consumer market in urban and rural sectors.
Eveready has adopted a reasonable pricing policy for capturing a broad consumer and customer base through affordable prices. It also has kept its prices lower than those set by its competitors under a competitive pricing policy. Its strength lies in its economical prices, which have created huge sales volume and contributed to its success and significant revenues.
- Value-Based Pricing: Eveready assesses the perceived value of its products in the eyes of consumers. They price their products in alignment with the benefits, quality, and brand reputation they offer, ensuring that customers perceive a fair exchange of value for the price paid.
- Competitive Pricing: In a highly competitive market, Eveready closely monitors the pricing strategies of its competitors. They aim to position their products competitively while differentiating through quality, features, and brand trust.
- Cost-Plus Pricing: Eveready considers its production and distribution costs when setting prices, ensuring that they cover expenses while maintaining profitability. This approach helps establish a baseline for pricing decisions.
- Promotional Pricing: Eveready frequently employs promotional pricing strategies, including discounts, bundle deals, and limited-time offers, to stimulate consumer demand, clear inventory, and encourage repeat purchases.
- Dynamic Pricing: Eveready may implement dynamic pricing to respond to market fluctuations and changing consumer behaviors. This involves adjusting prices based on demand, seasonality, and inventory levels and optimizing real-time revenue.
- Psychological Pricing: Eveready may use pricing tactics such as setting prices just below a round number (e.g., $9.99) to create a perception of a lower price and entice consumers.
Eveready Promotion Strategy
An excellent brand equity promotional policy will take a company very far, and Eveready already has an advanced marketing strategy. Give Me Red is one of its most popular taglines, launched in 1992, and the company continues to use it because it has become a synonym of the brand. The company appointed Indian superstar Amitabh Bachchan in 2004 and later roped actor Akshay Kumar as its brand ambassador.
Several ad campaigns were released, with Amitabh Bachchan and Akshay Kumar featuring them and displaying the advantages of the brand. Eveready uses all possible marketing tools to its maximum advantage. Commercials for brands are aired through electronic media on radio and several prominent channels on television. Advertisements are published in print media through magazines, newspapers, and hoardings.
Eveready’s promotion of the distribution strategy centers on the following:
- Multi-Channel Marketing: Utilizing a mix of advertising, social media campaigns, and collaborations to create brand awareness and engage with consumers.
- In-Store Promotions: Employing eye-catching displays, in-store signage, and strategic shelf placements to enhance product visibility and stimulate purchases.
- Online Presence: Leveraging e-commerce platforms and the company’s website for targeted online promotions and offering exclusive deals to reach a broader digital audience.
Some Recent Video ads and Print ads of Eveready are:
Liked this post? Check out the complete series on Marketing Mix