Godrej Industries Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of Godrej Industries through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Godrej Industries Product Strategy:
Godrej Industries is one of the biggest companies in India. Being a large conglomerate Godrej Industries manufactures a wide variety of products in its marketing mix product strategy.
Godrej Consumer Products:
It is a house of brands, few of them are Good Knight, HIT, Cinthol, aer spray, nupur and ROBY. Godrej Properties, a giant in the real estate business, builds properties in three segments namely; residential projects, commercial projects and township projects.
Godrej’s Nature Basket:
It is a retail segment from Godrej, which provides foods sourced across the globe. Product segments for Godrej Nature Basket include fruits, vegetables, meat, snacks and dairy products. This gives an overview on the product portfolio of Godrej Industries.
Godrej Chemicals:
These products are used by other industries and factories to manufacture their products. The product width of Godrej Chemicals include fatty acids, glycerine and surfactants.
Godrej Agrovet:
It provides animal feeds so as to support the agriculture, as it is the backbone of Indian economy. The products it manufactures are Bovine feed, Poultry feed, Aqua feed and feeds for other animals. It promotes oil palm cultivation, manufactures herbicides, insecticides and organic manure. It also produces high yield variety of crops, dairy products like milk, curd and yoghurt.
The company has also diversified into housing finance by providing affordable loans for buying houses.
Image: company website
This concludes the product strategy in Godrej Industries marketing mix & strategy.
Godrej Industries Price/Pricing Strategy:
Below is the pricing strategy in Godrej Industries marketing mix strategy:
Godrej Industries has got a huge business portfolio, and its pricing is dependent upon the sector it is in. Godrej faces stiff competition from other giants like TATA, Wipro, Hindustan Unilever, Whirlpool; so, in such a case Godrej is forced to set prices to as to fight out this competition.
Prices of chemicals set by Godrej Chemicals varies according to the order in bulk or the amount purchased since such products serve as raw materials to other industries and factories. Agricultural products like cattle feed, aqua feed and poultry feed are sold exclusively by dealers in bulk to farmers, this reduces the prices of these products. Consumer products are priced low because most of the purchases comes from these segments and market skimming is done by all brands. Price of Good Knight mosquito repellent packs costs around ₹70, the price of Godrej Cinthol products range from ₹32 to ₹175. Price of real estate properties depends on the type of city, the location and the purpose for which it is built. Price of residential properties typically starts from ₹50 lakhs. In the food retail segment; i.e. products of Godrej Nature Basket, which sells goods for daily consumption, price is less, also they provide frequent discounts on special occasions. This gives an understanding of the marketing mix pricing strategy of Godrej industries. The company has an annual revenue of more than $4 billion across all its business operations.
Godrej Industries Place & Distribution Strategy:
Following is the distribution strategy in the Godrej Industries marketing mix:
Godrej Industries has got a presence across India. Being a large conglomerate, the presence of Godrej is felt at any business environment. The extensive reach of Godrej brand is a part of its marketing mix place strategy. Chemicals are sold by authorized dealers only, as they are mostly purchased in bulk orders. In the case of agribusiness, the feeds can be purchased of retailers and dealers located in the rural areas. Godrej has a vast distribution and retail network, be it urban or rural. Godrej products are primarily sold via retailers. In the case of Godrej Properties, it is the job of sales team to listen to prospective buyers and also to look out for them. These are sold primarily in Business to Business sales in the case of commercial properties. Godrej website provides prospective customers an easy platform to reach out to Godrej Properties in case of any enquiry or discuss any business deals.
Godrej Nature Basket is available only in the brick and mortar stores of Godrej Nature Basket only.
Godrej Industries Promotion & Advertising Strategy:
The promotional and advertising strategy in the Godrej Industries marketing mix is as follows:
Godrej spends a huge sum of money when it comes to advertisement and promotional expenses. Such promotional activities help Godrej to be connected with customers and help build up a good relationship with them. Primary promotional activities include Television advertisement, newspaper, magazines, billboard, hoardings and distribution of Pham plates in strategic locations. Over the years, Godrej has roped onto famous personalities and Bollywood stars to play the role of their brand ambassador. Godrej is involved in various Corporate Social Responsibility projects, which gives them build trust among consumer and government enterprises. Activities include GoGreen projects which help revive the dwindling Mangrove cover. They are also involved in educational activities. They are also manufacturing innovative products like smokeless mosquito repellent cards and huge investments in green buildings. Hence, this summarizes the marketing mix of Godrej Industries.
Godrej Industries:
Godrej Industries is an Indian conglomerate headquartered in Mumbai. Godrej was founded in the year 1960 and since then had been involved in plethora of business activities which has made them one of the most prestigious holding groups in the country. Godrej’s business is spread over 18 countries. It primarily started as a chemical manufacturing company, but their businesses are now diversified across consumer goods, agribusiness, real estate and IT consulting.
It is owned by Godrej family. With an annual revenue of $4 billion, Godrej Industries is one of the giant conglomerate in the 21st century.
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