Founded in 1897 the company has been operating in the country since the Swadeshi movement. Its founder, Ardeshir Godrej, lawyer-turned-serial entrepreneur and founder of Godrej after series of failed attempts entered into locks with which the company success story started.
Segmentation, targeting, positioning in the Marketing strategy of Godrej–
Catering to the needs of such large array of consumer segments is only possible when the population is segmented based on the similar population characteristics. Godrej uses the mix of demographics geographic and psychographic segmentation variables such as income class, profession, age, gender, behavior, region etc.
Vision- “To be 10 times the size the company was in 2010 by 2020”
Tagline-“Ideas that Makes Life Better”.
Competitive advantage in the Marketing strategy of Godrej–
1. Big Conglomerate:
Godrej have become a big conglomerate offering services and products ranging from agri products to security to real estate solutions. Experience in such a diverse nature of businesses is helping the company supporting the businesses hand in hand and emerge as a prominent player in the market.
2. Vast experience:
More than 120 years old company, extensive experience in the business it operates into, properties at some of the prominent locations, financially strong and deep-rooted to understand the need and wants of the customers, is what helps the company in being competitively ahead of its peers.
BCG Matrix in the Marketing strategy of Godrej-
Godrej business segments are categorized into three businesses Godrej Consumer Products (GCPL), Godrej Properties (GPL) Godrej Agrovet Limited (GAVL).
Out of these businesses the consumer products business vertical and Godrej properties are Stars in BCG matrix while Agrovet is still emerging and is facing tough competition from the peer companies, therefore, it is the question mark in the BCG matrix.
Distribution strategy in the Marketing strategy of Godrej-
The Company operates with its own sales channel along with the authorized distributors, resellers, retailers and e-commerce websites who help the brand in making its offerings available to the remotest location of the country under consumer goods and electrical appliances segment.
While in those of industrial products and real estate business, the Company have its own sales team for growth and popularization of the business.
Brand equity in the Marketing strategy of Godrej–
Godrej has been ranked 51 in Forbes magazine list of innovative growth Companies. The brand has been valued at $ 8.8 billion as of May 2017 (market capitalization value method) generating revenue of $ 4.6 billion.
The brand has been ranked 2nd most trusted brand in India and is among the most diversified and trusted conglomerate.
Competitive analysis in the Marketing strategy of Godrej-
The presence of the brand in such large product categories along with large SKU’s (stock keeping unit) such as in-home care the company have offerings such as Goodnight, Aer room/car/ washroom freshener, Hit for mosquito killing, EzeeValon, in personal care Cinthol, Inecto, Renew, Roby and many more.
Being present in the market with such large number of options is what helping the company in being competitively ahead of its competitors.
Market analysis in the Marketing strategy of Godrej-
The macroeconomic environment will continue to impact and get impacted by the socio-political and economic uncertainty. Due to which the international business of the company is grappling with the dual challenges of weakening growth and exchange risk. While the company focuses on innovation, customer centricity and cost optimization for capturing the tremendous opportunities in the emerging markets such as Asia –Pacific regions, Africa, Latin America and others.
Customer analysis in the Marketing strategy of Godrej–
Customers of Godrej in the retail segment are in the age group of 20-60 years. Most of the customers are acquired by the company through the brand recall and strong brand image that the company has built over the years.
In the B2B segments, Godrej serves to the needs of the companies of various industries through its offerings such as that of Godrej & Boyce, Godrej Industries, and Agrovet.