Micromax Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of Micromax through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Micromax Product Strategy:
Micromax aims at using innovations and advance technologies in its products to provide its customers the latest experience. Micromax has provided products keeping the customer’s needs in mind. The company provides wide range of products with different features like 30-days battery backup, Dual SIM, QWERTY keypads etc. Most of the Micromax devices run on Android platform but a few run on windows as well. As of now, the brand provides more than 60 models with different and exclusive features. Micromax sells around 2.3 million mobiles every month. Below is the product line in its marketing mix offered by Micromax:
1. Smart Phones: Micromax provides a wide variety in Bharat series, CANVAS series, Selfie series, Dual series, and Video series smartphones
2. Feature phones: The company provides its customers the QWERTY experience and provides few models for the same. These models have dual sim feature and an option to choose between CDMA or GSM mobile phones.
3. Phablets: Micromax has also extended its arm in the field of Phablets and has introduced Fantabulet.
4. Consumer Electronics: Apart from mobile handsets, the company also has variety in consumer goods like sound systems, power banks, LED TV and Air conditioners.
5. Laptops and Tablets: Micromax has also introduced few laptops and tablets like CANVAS series laptops and tablets.
6. IT equipments: Micromax has also maintained its foot in the IT hardware sector and provides HD LED monitors.
The reason for Micromax success is the availability of lower to upper end devices with technological advancements.
Image: company website
This concludes the product strategy in Micromax marketing mix & strategy.
Micromax Price/Pricing Strategy:
Below is the pricing strategy in Micromax marketing mix strategy:
From the very beginning, Micromax targeted both urban and rural parts of India providing them technological advanced mobile handsets at affordable prices. Though the mobile market was already dominated by players like Samsung, Nokia, Micromax still took a bold step of introducing the new mobile handsets in the Indian market.
To create a market for itself, Micromax followed penetration pricing strategy. This pricing strategy in its marketing mix is generally used when certain brand needs to capture the market in the sector where there are already existing players. The lower price offering for the same technology that is being used by other high end brands will lure customer to by Micromax products and hence, will create customer loyalty. Micromax products have been widely accepted by rural India mainly due to lower cost, though the penetration in urban India is comparatively low against the giants like Sony, Samsung etc.
Micromax Place & Distribution Strategy:
Following is the distribution strategy in the Micromax marketing mix:
Although Micromax is an Indian brand (as the company is registered in India), but the manufacturing of handsets take place in China. As Micromax handsets are much on the low pricing side, manufacturing in China provided it a cost effective. Till time, less than two third of the manufacturing took place in India but now the company is thinking of moving the manufacturing back to India. The company has its headquarter in Gurgaon, Haryana and has manufacturing plant in Rudrapur, Uttarakhand and Research and Development center at Telangana. Rudrapur, Micromax’s first Indian manufacturing facility, produces 10 lakh devices a month including mobile phones, LED TVs, LED lights and tablets. It employs 700 people and has a capacity to produce 16 lakh devices. Micromax is planning to set up two more manufacturing plants in Bhopal, Madhya Pradesh and Bhiwadi, Rajasthan. Micromax is present in more than 560 districts through 1, 25,000 retail outlets in India. Micromax has placed its products in highly visible retail outlet like Reliance Digital, Chroma, stand-alone stores of Micromax and also has its presence in local distributors and retailers. The products are also available on e-commerce sites. After setting up successfully in India, Micromax is expanding globally.
It has presence in other countries like Russia, Bangladesh, Nepal, Sri Lanka, UAE, Pakistan, Afghanistan, Bhutan, Maldives, Nepal and Sri Lanka.
Micromax Promotion & Advertising Strategy:
The promotional and advertising strategy in the Micromax marketing mix is as follows:
Micromax believes in aggressive marketing and celebrity endorsement for promoting the brand to the masses. As Micromax is seeking global expansion, it signed Hugh Jackman as its brand ambassador. Earlier also, Micromax has endorsed movie stars and celebrities as the brand ambassador to promote its products as the company understand what influence celebrities have on people’s mind in India. The company use all sort of mediums for promoting the brand be it television, radio or print media. The company is also using digital platform for promotion purpose. Company’s official page on Facebook, twitter and Instagram handle has millions of followers. The official Youtube channel of Micromax has many subscribers. In 2014, Micromax came up with Micromax #CANGIFTHAPPINESS campaign on twitter. The intention was to donate Rs.1 to CRY, India, a NGO to Support Child Rights. Over 200,000+ tweets were generated with more than 2 lakh mentions, with a reach of more than 100 Million.
Hence this completes the marketing mix of Micromax.
About Micromax:
Micromax Informatics Limited, earlier just a telecommunication equipment distributor, entered the market of mobile handset when Rajesh Agarwal, Rahul Sharma, Sumit Arora and Vikas Jain came together in 2008. By 2010, the company began to work in full operations and currently, Micromax is the 2nd largest smartphone company in India and the 10th largest mobile phone player in the world.
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