The Marketing mix of Urban Ladder analyses the 4Ps of Urban Ladder, including the Product, Price, Place, and Promotions. Urban Ladder is a company that was started in July 2012 by Mr Rajiv Srivatsa and Mr Ashish Goel. The Bangalore-based venture started offering the market premium-quality furniture and home décor products via digital marketing.
Mr Ashish is an IIT Mumbai alumnus, whereas Rajiv is an ITT Madras alumnus, with the two having vast industry experience. Today, Urban Ladder is present in the country across 19 cities and towns around India, with a very steady expansion rate being experienced.
Urban Ladder has experienced momentous business growth in just about four years, giving stiff competition to Pepperfry, FabFurnish, and Housefull. But what is it that has made Urban Ladder gain pace this fast? Its digital marketing strategy is essential in making the company what it is today.
About Urban Ladder
- Type: Online furniture retailer
- Industry: E-commerce
- Founded: 2012
- Founder: Ashish Goel and Rajiv Srivastava
- Headquarters: Gurgaon, India
- Area served: India
- Key people: Ashish Goel (Chairman) and Rajiv Srivastava (CEO)
- Number of employees: 1,000
Table of Contents
Urban Ladder Product Strategy
The company deals with all manner of furniture products together with all sorts of home décor products. The company offers not only products but also services. In other words, upon placing an order, the company will deliver and install any product you order within their service lines. They have over 5,000 products for customers to choose from.
The new Product Mix of Urban Ladder in 2023 is as follows (Source).
- Furniture Varieties: They offer a wide range of furniture, including: Beds (with and without storage), Sofa sets (fabric and leatherette), Dining tables and chairs, Coffee tables, TV units, Recliners, Shoe racks, Cupboards, Bookshelves, Study tables and chairs
- Home Décor Items: Their home décor range encompasses: Table lamps, Ceiling lights, Wall lights, Floor lamps, Wall decors, Wall art, Wall Mirrors, Wall clocks, Photo frames
- Soft Furnishings and Textiles: This category includes: Carpets, Dhurries, Bedsheets, Throws, Cushion covers, Door and window curtains, Bath mats
- Specialized Products for Kids: Urban Ladder also caters to children’s needs with: Kids’ beds (with and without storage), Kids’ study tables, Kids’ cushions, Kids’ bed sheets, Kids’ wardrobes, Kids’ storage solutions
- Kitchen and Dining Essentials: They offer a variety of items such as: Kitchenware, Dining sets, Bar stools, Glassware, Trays & platters, Dinnerware
- Outdoor and Miscellaneous Items: Including: Outdoor lights, Planters, Artificial plants, Breakfast tables
- Extensive Product Catalog: Urban Ladder boasts over 40,000 products across over 300 brands.
- Expansion Plans: As of early 2023, they planned to double their retail stores by March 2024, indicating a robust expansion strategy.
- Broad Customer Base: They deliver to more than 83 cities across India, catering to a diverse range of consumer needs.
Urban Ladder Place Strategy
Urban Ladder targets online buyers all over India. Within the last four years, the company has expanded its distribution network to at least 19 cities and plans to expand to about 30 cities within the following months. It targets different consumers, all the medium and high-income earners, with a few low-income earners who do transactions online also being targeted. As long as you are looking for furniture and interior home decoration accessories and you are within India, Urban Ladder will reach you easily.
Here’s an overview of Urban Ladder’s place strategy:
- Expanding Retail Footprint: As of early 2023, Urban Ladder aimed to significantly expand its physical store presence, planning to double its retail stores by March 2024. This expansion strategy included opening new stores in 32 cities and increasing their reach in metro and non-metro markets.
- Strong Online Presence: Urban Ladder started as an online-only brand and continues strengthening its e-commerce segment. They have a robust online platform, offering a wide range of products, which complements their physical stores and caters to the growing demand for online shopping.
- Partnerships for Online Expansion: In addition to its website, Urban Ladder is also expanding its online presence through collaborations with other e-commerce platforms. This approach allows them to tap into a broader customer base and leverage the logistics and reach of established e-commerce giants.
- Targeting Diverse Markets: Their expansion strategy is not limited to metro cities; Urban Ladder also focuses on non-metro markets. This diverse market approach helps them cater to broader customer needs and preferences across different regions.
- Utilizing Physical Stores for Enhanced Customer Experience: The physical stores of Urban Ladder serve as touchpoints for customers to experience the product quality and design first-hand. This strategy helps build trust and brand loyalty, especially in the furniture and home décor market where tactile experience is valued.
Urban Ladder Pricing Strategy
The co-founders, Ashish and Rajiv, faced an arduous task to get good furniture as they were furnishing their homes in 2010. At this point, they thought of coming up with a company as it was clear that a gap had to be sealed.
After a series of discussions and meetings, they settled on a product. The product would involve all processes revolving around selling furniture together. It would include furniture of sale and developing a responsive website to make e-commerce easy for them and the client. They would then deliver and install the furniture accordingly. One of their most intrinsic and best-selling products is the Hamilton Nested Stool.
Multipurpose furniture is also some of their best-selling house furniture. This furniture comes with smaller shelving units, thus making it easier to host guests who aren’t staying for long. All such furniture is priced according to quality and the service rendered.
Urban Ladder’s pricing strategy can be characterized by a blend of value-based marketing strategy and competitive pricing tailored to meet the needs of a diverse customer base while ensuring market competitiveness. Here’s a breakdown of their approach:
- Value-Based Pricing: Urban Ladder emphasizes offering high-quality furniture and home decor products. Their pricing reflects the value they provide regarding product design, quality, and durability. This strategy appeals to customers who pay a premium for superior quality and unique designs.
- Competitive Pricing: Urban Ladder positions its products at competitive prices in a market teeming with competitors. They regularly analyze market trends and competitor pricing to ensure their products are attractively and realistically priced, striking a balance between affordability and quality.
- Dynamic Pricing Model: Leveraging data analytics and market research, Urban Ladder adopts a dynamic pricing model. This approach allows them to adjust prices based on demand, market trends, and seasonal factors, ensuring they remain relevant and competitive.
- Promotional Offers and Discounts: To attract and retain customers, Urban Ladder often introduces various promotional offers, discounts, and sales, especially during festive seasons and special events. These strategies boost sales, clear inventory, and attract price-sensitive customers.
- Segmented Pricing Strategy: Recognizing its customer base’s diverse needs and financial capabilities, Urban Ladder employs a segmented pricing strategy. This involves offering various products at different price points to cater to multiple customer segments, from budget buyers to luxury seekers.
Urban Ladder Promotion Strategy
One practice that has given the company a milestone over all its competitors is its introduction of sofa trials in customer’s homes. In other words, upon the purchase or order of a sofa, you have several days to try it out in your home before deciding to go for it or change to a couch that will impress and interest you more.
This trend in online platforms has never existed in the Indian e-commerce market. Product quality is yet another marketing strategy employed by the company. Product quality starts from the website’s responsiveness, the ordering process, shipment, delivery, installation, and customer care services. As far as this chain is concerned, Urban Ladder tops its competitors.
Because of the company’s success and dedication, it collected the “Best Digital Start-Up” at the 4th India Awards that the Internet & Mobile Association of India organized. Urban Ladder’s founder, Ashish Goel, scooped the “Game Changer Entrepreneur of the Year” award at the 8th edition of the India Leadership Conclave in 2016.
Urban Ladder does prominent TV advertisements. Social media is, however, by far the most critical marketing avenue and promotion strategy that the company has employed. Whereas other companies struggle with other SEO tools to reach potential customers, these two IT experts knew that social media is one of the best SEO tools today. No wonder the company does the highest percentage of its promotions on Facebook. This has worked. Since Urban Ladder is in a visual category, the management team and company believe that digital promotion is essential, and indeed it is.
Some Recent Video ads and Print ads for Urban Ladder are:
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