Bajaj Electricals Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of Bajaj Electricals through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Bajaj Electricals Product Strategy:
Bajaj Electricals is a leading brand name in electrical equipment and appliances in India. The products of Bajaj Electricals mainly cater to the domains of luminaries, consumer products, engineering procurement and construction (EPC) and exports. The luminaries mainly target the segments like industry, cityscape, commercials and infrastructure with its products like LED, accessories and light sources. The consumer products of Bajaj Electricals include various appliances in food preparation, home comforts and essentials which includes iron box, fans, induction and electrical cookers, pans, room coolers and water heaters etc. For EPC projects the company is involved in illuminations, power transmissions and power distribution on larger scale. This shows the strong product portfolio in its marketing mix, which is relevant to consumers as well as enterprises.
Image: company website
This concludes the product strategy in Bajaj Electricals marketing mix & strategy.
Bajaj Electricals Price/Pricing Strategy:
Below is the pricing strategy in Bajaj Electricals marketing mix strategy:
Bajaj Electricals has adopted distinctive pricing strategy for each of its product segments which include the household appliances on one end and the large scale projects on the other segment. The consumer products indeed have a competitive pricing strategy in its marketing mix to get the required market share in terms of rising competition among rivals.
However the Bajaj Electricals brand also offers discount and other incentives in terms of service for attracting larger customer base. It has also some of the products sold at premium price based on the value offerings it provides to the consumer base. The products of Bajaj Electricals focus more in providing quality products and gives lower importance towards earning more margin. This has clearly helped the brand to gain a trustworthy image among the consumers.
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Bajaj Electricals Place & Distribution Strategy:
Following is the distribution strategy in the Bajaj Electricals marketing mix:
Bajaj Electricals has a well-established manufacturing plant in Maharashtra near Pune which has world class facilities involved in production of different electrical products. Bajaj Electricals has established seamless distribution system enabling its consumer and electrical appliances to reach different parts of the country. There is a strong dealership network which provides a clear strategy to make its products more accessible to consumers. They act as intermediaries or direct selling point for making the products available to consumers. Bajaj Electricals appliances have a considerable demand in both rural and urban area in comparison. It has established showrooms and retail outlets which has provided greater visibility for the products compared to its competitors. Warehouses across different regions also facilitate storage of the products and reach the outlets in shorter duration. Service centres have been established across various places to enable quick and efficient services thereby enabling better consumer experience.
Currently online platform has also been utilized by Bajaj Electricals .
Bajaj Electricals Promotion & Advertising Strategy:
The promotional and advertising strategy in the Bajaj Electricals marketing mix is as follows:
Bajaj Electricals relies heavily on the traditional means of promotional campaigns like television media and print advertisement for bringing awareness among the masses. The campaign of ‘Hamara Bajaj’ is still relevant for the products in electrical consumer goods. There has been changes in the promotion being carried out, however the core values and principle have remained the same over years. Taking cue from modern methods of promotion using social media platform and online it has been trying to connect with younger mass. There has been lot of promotion in terms of announcing seasonal discounts and offers through such media. The brand Bajaj has become quite synonymous with the household and this has helped in designing and communicating the product in promotional campaign. Hence, this gives an insight in the marketing mix of Bajaj Electricals.
About Bajaj Electricals:
Bajaj Electricals is one of the India’s largest consumer electrical equipment manufacturing company rendering products from 1938. This Mumbai based company has been founded by Kamalnayan Bajaj and has been a major player in lighting, consumer durables and engineering projects. The parent company of this organization is Bajaj Group and has 19 branches in the country with a strong distribution network of retailer and dealers.
Bajaj Electricals has been involved in major infrastructure project the well-known being the Commonwealth Games and Bandra Worli Sea Link lighting projects. The brand name of Bajaj Electricals has a higher trustworthy and assurance of quality products which has clearly helped the electrical division of the group.
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