Monday, April 1, 2019

Marketng Analysis of Bajaj Fans

Marketng Analysis of Bajaj FansCritically abstract of the Bajaj fans contribution of trade planning to the act upon of the strategic festeringIn the strategic set aboutment process begins with strategic planning. Strategic planning is the process of maturation boilers suit plan strategies for the whole of organization. to a first baseer place the strategic planning process rate answering the followers wondersWhere argon we now?How did we get there?Where are we heading?Where would like to be?How do we get there? later that review whole planning process expose by part sequential order. Those steps areAnalyze Vision and Strategic impris atomic number 53d where we want to be rising check outing mission statement in wrong of rationale for existence of the business and value of the business. Under this review process evaluates further Purpose, values, Competencies, Culture, Polices and ProductAs a next step developing goals and objectives for whole organizationThen ca rrying out the position audit by using SWOT analysis techniques and identify breakings.To fill that the in a higher(prenominal) place gaps evaluating corporal strategic choices. Here generating the strategic options by answering the following questionHow to competeWhere to compete method of growthAs well as evaluating options by using the following criterias acceptability (evaluating establish on stakeholders goals, objectives and their power), suitability (evaluating in relation with mission and strategic intent) and Feasibility (in terms of fiscal viability and risk) on that point after finishing that process start strategic executing process. In this stage do the followings Resources PlanningDraft operations plans, grammatical construction and cultureChange (Implement changes)Implement Functional StrategiesProductions operation strategiesR D strategiesMarketing strategies (Marketing ripple, Segmentation, PLC analysis, MIS).HRM (Personal planning, Motivation, Appraisal)Fi nance strategies (source of finance, investment)IT strategiesLooking at actual performanceReview and control (assessing the deviation from plan and make corrective actions establish on that)As final stage link to the step called strategic analysis.How the tradeing planning contributing to strategic development process tolerate be seen in above mentioned step number 5. If the company is having more than one business, there are three type of strategies can be determine those areCorporate strategyBusiness and usable strategiesCorporate level strategies are concentrateMaximize make out holders wealthIncrease the overall profitability company as a wholeTypically focused determining overall propose of the business.Decisions on mergers and acquisitions sell off or closure of business units.Maintain relationship with key stakeholders of the business much(prenominal)(prenominal) as investors, government and regulatory body.Explore smart market maturation corporate imageUnder the Business strategies demonstrable for division in the larger organization, that has a significant degree of autonomy basically accountable for developing and trade their own wares or services. Functional strategies mainly focused on selection of decision rule of the in each of functional area.In this case Baja electrical division or business unit (SBU) has draft a overlap market plan for fans. Under that product merchandise plan strategic business unit has analyze, create and develop strategies to support the corporate strategies in the every aspect. Such as profitability, market share, developing corporate image by using corporate disfigurement with the products. As a final conclusionCan say Bajaj fans selling plan has contribute significantly for the strategic development process.Appraise merchandising plan of Bajaj fans with suitable trade element of selling potpourriUnder the marketing plan of bajaj fan has considered all the aspect of marketing mix element much(p renominal) product, STP process, price, place, and promotion).2.1. Product analysis2.1.1. Product mix This has demonstrable to attract the customers ( diverse segment).Those product mix are Ceiling fans, TPW fans (Table/ point of view / wall) and fresh air fans. Not only that under that they have developed different design like decorative and non decorative based on the segment.2.1.2. Brand Name for the fan product category very low focused given by customers even bajaj fans was not included in the consideration set under their decision making process. That was major weakness. To drop dead that weakness they have come up with new strategies called umbrella mark (family swording)2.1.3. Packaging follow has changed their graphic on packaging for entire product rage.2.2. Segmentation, targeting and positioning (STP)At earlier stage company has followed niche marketing strategies. friendship segmentation bases are price, quality and aesthetics look. Based on that segmentation criterias, they have introduced different product categories for each segment.Price based segmentation with sub brands as followsProduct category Price superior priceMedium priceLow priceCeiling fans windMaximaBahar , GraceTPW fansCrownBaharFresh air fansAesthetics look based segmentationDecorativeNon decorativeCompany product position strategies is that take in positioning, Price quality positioning and performance based positioning revolutions per proceeding RPS (speed, cooling).2.3. Pricing analysisCompany maintains the woo based pricing policy. There major weakness of the pricing having high margins for distributors. That has straightway affected on their profitability because of high represent is incurred for distributors margins. To save that cost company has started statistical statistical statistical distribution of products by using their own vehicles.2.3. Promotion analysisMajor media is television set because of cable and satellite TV penetration is very high. Main ly announce on C S channels such as star, Sony, Zee. antithetic types of TV commercialized has developed air term (10,20 30).These TV commercial showing by using the different language.Major communication centre is that Subse TezUnder the advertising they have new packaging strategies are combine with posters, POPs, Shops or dealers, boards and other communication elements direct mail.Followed different marketing recalling elements such as promotion team with braded t-shirts and caps, distribute leaflet for potential customers on point of gross revenue.Used to promote the product dealers word of mouth passport to increase the sales.AS a hook strategy thy used pull strategies by organizing different contest among the customers, attractive pops, display schemes.2.4. Place analysis (Distribution)There distribution strategies reduced by one layer. Company directly distributes their products to the retail merchants.As well as they have developed separate distribution network sub economy market segment.At the comparable date promoting dealers under pull strategy to keep their loyalty, increase shop share and attract the customers.Logistic is very strong 20 branches after sales service centers around 200 franchise that is also increasing the sales capacity of the channel.Identify the process of the developing and using brand personal identity of Bajaj with further evaluation of marketing segmentation, competitive analysisTo develop the brand identity company used major strategy is umbrella strategy strengthening the product with corporate brand. That increases the customer credibility and dealers loyalty. At same time they are promoting by using pull strategies both company customers and dealers that is help to increase the brand loyalty of dealers. Not only that they are using TV commercial to communicate the brand identity for the different market segment that is on of the strategy which help to upgrade the tip of mind brad awareness.In terms marke t Segmentation Company has develop different market based on the price, quality and aesthetics look. This also helps develop brand awareness of those market segments. Currently in market leading players are Crompton, orient, polar, Khaitan, Usha. Current situation is level of rival very high and that is reducing margin of products because of profit divided into the above major competitors. Bajaj market segmentation strategy is also helping to facial gesture that competition. Because of all the above players are having their own production plant as well as gained economies of scale. Therefore major strategies that they need to be followed develop the customer loyalty via product performance and after sales services. As well as Bajaj Company use the promoters to develop brand awareness among the customer by using branded T shirts and caps. Some time such capacities do not have competitors to promote their products.Analyze the marketing capabilities of Bajaj fans to utilize the curr ent technologies e-marketing and e commerce platform.If the bajaj used e marketing tools and techniques under this context of e commerce by which creating new distribution channel for the bajaj company as well as e marketing is help to reach different customer segment on mortal basis ( via telecommunicate campaign marketing) and corporate segment. In addition to that the following benefit and advantage that they can gain out of the e marketingCan access wider rage of the market because of penetration of internet and email usage is very high. Therefore, in terms of cost vs. benefit, benefit is higher than cost, because of cost to reach very low. As example if the company developed sacksites by spending INR 150,000 and suppose that 1500 peoples access per month to site (150,000 /1500 = 100) in the first moth cost is 100 Indian rupees. Month by moth that cost is reduced only thing that they need invest that capital for web site. That web sites is providing adverting and online purchase facility also can be set.When online marketing is going to apply it is ideal for corporate segment such as companies, building housing contractors. Online purchasing help reduce time gap in ordering and take overing product. As well as it is reducing the retailer margin which that they paying for retail sales.Online promotional campaign also can carry out by using e marketing tools such as pop up advertising, cross promotions.Disadvantage of e marketing and e commerce are technical failures and security issues.By analyzing those cost benefit as well as advantage and disadvantage Bajaj Company apply new technology to improve their communication, sales and to beat the competition. As final conclusion bajaj has feasibility to use the new technology. In the future they can collect domestic and international corporate orders via web. That will deliver greatest benefit for them. Therefore bajaj is capable enough use the new technology under this scenario.

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