Vedanta Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of Vedanta through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Vedanta Product Strategy:
Vedanta is one of the global leaders in the diversified natural resource industry. Vedanta produces copper, zinc, aluminium, lead, silver, iron ore, oil and gas and commercial energy. All these are the product mix in the company’s marketing mix. Currently Vedanta holds 79% of market share in the zinc industry in India through Hindustan Zinc limited. This makes it India’s largest and world’s second largest zinc miner. Its zinc and lead metal products are listed in London metal exchange. Their products exhibit high standard and quality. Its byproducts are silver and Cadmium.
Cairn India which is a part of the Vedanta group is one of the largest independent Oil and Gas exploration and production company. For over two decades it has been playing a major role in the development of oil and gas resources in India.
Vedanta also does exploration, mining and processing of iron ore, power generation. It has large iron ores in Goa and Karnataka. They have also acquired iron ores in Liberia. Vedanta is all set to resume mining in Goa which was closed before due to state wide bans which are now lifted by the supreme court.
Sterlite Copper is a business unit of Vedanta limited which provides copper to the country’s defense sector and to over 800 small and medium enterprises. All their products meet international quality standards.
Image: company website
This concludes the product strategy in Vedanta marketing mix & strategy.
Vedanta Price/Pricing Strategy:
Below is the pricing strategy in Vedanta marketing mix strategy:
Vedanta’s products are commodities and hence the prices are based on external factors. Commodity prices are set through demand and supply for the commodity in the market.
Vedanta then have to constantly evaluate the commodity environment and take appropriate measures to maintain financial stability and profits. They have to check the global prices to see whether the company’s operations are viable or not. There is a lot of emphasis on cost improvements and productivity to keep supply in check with the demand. The cost of the product is dependent on the input prices, world commodity prices, export duty, cost of procurement and other commercial functions. Therefore, Vedanta gets affected by changes in any of these factors. The company also have to decide whether they want to pass on the fluctuations in the market to the customers or not. The pricing strategy is hence summarized in its marketing mix.
Vedanta Place & Distribution Strategy:
Following is the distribution strategy in the Vedanta marketing mix:
Vedanta operates mine in India, Africa, Ireland and Australia. It has lead-zinc mines in Rampura Agucha and Sindesar khurd in India. It has smelting facilities in India and Africa. It has smelting complexes in Chanderiya and dariba in Rajasthan. Vedanta generates power for its own processes. It also has independent power plants and wind farms. For metallurgical operations, it also own coal based thermal captive power plants in Rajasthan. They produce 274MW of wind energy and 354 MW from waste management. Cairn India has the largest onshore discovery in India in 20 years. The three major discoveries in the Rajasthan block were Mangala, Bhagyam and Aishwariya fields. They have gross hydrocarbons of about 2.2 billion barrels of oil equivalent.
Vedanta has power plants n Odisha, Chhattisgarh, Tamil Nadu and various other locations in India.
Oil and gas is being produced from Andhra Pradesh, Gujrat and Rajasthan.
Vedanta Promotion & Advertising Strategy:
The promotional and advertising strategy in the Vedanta marketing mix is as follows:
Vedanta promote themselves through print media campaigns, Outdoor hoardings, Radio Jingle and TV commercials. It targets different communities and states with different campaigns. Through its “Creating Happiness” campaign it aimed to tell Vedanta’s story. A nationwide competition was held which invited short films revolving around the campaign. The stories came out brilliantly and were uploaded on Youtube for evaluation. Vedanta has a solid social presence on Fcaebook, YouTube, Twitter and Linkedin.
Vedanta also launched a series of campaign to create awareness among the people of Orissa. It collected testimonials from people and how Vedanta has changed their lives. Vedanta has collaborated with NDTV in the past and launched a unique initiative ‘NDTV Vedanta Our Girls Our Pride’ to create awareness about issues related to girl child. The main focus areas of the campaign were nutrition, education, infanticide and health. Priyanka Chopra was the brand ambassador for this campaign. Vedanta’s CSR initiatives draws a lot of attention through which they get a good publicity through those initiatives. Hence, this completes the Vedanta marketing mix.
About Vedanta:
India is a very rich country with abundant of resources. It has large reserves of Zinc, Coal, Iron ore and Bauxite. Vedanta is listed in London Stock Exchange. Vedanta was formerly known as Sesa Sterlite Ltd. Mr. Anil Agarwal who is the Group Chairman and the Chairman Emeritus founded the group in 1979. Tom Albanese is the CEO of Vedanta Resources. Governance and sustainability form the core strategies of Vedanta. Vedanta believes in delivering value to its stakeholders. It directly and indirectly employees over 67,000 people. Vedanta does intensive CSR and it believes that communities play an important role in the evolution and growth of a business. Vedanta is the leading producer of aluminum and silver.
Vedanta has robust cash flow and a strong profitable business because of its large portfolio of world class, low cost assets which are scalable. Vedanta’s businesses spans across India, Zambia, Namibia, South Africa, Australia and Ireland.
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