JCB Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of JCB through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
JCB Product Strategy:
JCB is a world leader in manufacturing heavy engineering machines used forfaring, military, excavations etc. JCB's products are mostly tools mounted on to tractors or movable equipment having enough mobility. It has a wide product offering as a part of its marketing mix strategy. JCB’s products range from loaders, drillers, carriers and movers to shovels and dump trucks. All of these are painted yellow and have black trademark logo on them making them their identity colours. There is a wide range of almost 300 products of JCB. For excavators, tracked 360° excavators ranging from 7 tonne zero tail swing excavators to 46 tonne tracked excavators. They also have a range of wheeled 360° excavators. Wheeled Loaders having hydrostatic machines of 6 tonne to 25 tonnes capacity quarrying machines are produced which are used for industrial as well as agricultural purpose. JCB also produces tractors which can travel on road with high speed. They can be used for horticulture and small scale agriculture. It also produces Military vehicles for land handling and excavation, diesel powered land speed record vehicle named Diesel-max, compaction equipment and rugged feature phones and smartphones.
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This concludes the product strategy in JCB marketing mix & strategy.
JCB Price/Pricing Strategy:
Below is the pricing strategy in JCB marketing mix strategy:
JCB being the market leader in this segment has to stay high in the market facing many problems from a number of rival companies. JCB uses the competitive pricing strategy as a part of its marketing mix where it has nearly similar pricing as per the market and lets its buyers to opt for better quality.
Having a high recall value makes it stay on top and expand in many countries and keep expanding with a big part of the revenue being used for proliferation. This in turn makes then earn more profit because of lowered logistic costs.
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JCB Place & Distribution Strategy:
Following is the distribution strategy in the JCB marketing mix:
JCB has 22 factories across globe in Asia, Europe, North America and South America. Its products are being served across 150 countries. Its major markets include India, China, United Kingdom and United States of America. Having 3 factories in India at Faridabad, Jaipur, and Pune, they have a strong distribution network. They are spread across the world with around 1500 authorised dealers. India being one of the major markets, has a record of having sale of 3 out of 4 construction equipment belonging to JCB.
Its sale increased 12 times in recent past.
JCB Promotion & Advertising Strategy:
The promotional and advertising strategy in the JCB marketing mix is as follows:
JCB has been actively involved in numerous promotional campaigns which makes it create more and more brand awareness. It takes the help of print media to spread awareness of it being the leading manufacturer of such products. JCB has moreover won many awards which they proudly advertise. Teams appointed by JCB roam around world touring several agricultural shows and produce videos. Specialised trained people perform stunts which depict the durability, strength and flexibility of these machines. One such example includes world-famous demonstration of the versatility of the backhoe configuration. The drivers have also introduced a concept of vehicle gymnastics. Introduction of many policies such as all-risks policy which provides many schemes such as employer's liability, public liability and road risk coverage. JCB also indulges in education sector where it has opened an academy for secondary school. It offers subsidiary to its customers which make them enabled to own and use such huge machines. Hence this completes the marketing mix of JCB.
About JCB:
J C Bamford Excavators Limited, known as JCB, is an English construction equipment manufacturing company. It was founded by Joseph Cyril Bamford in 1945. It has its headquarters in Rochester, Staffordshire. JCB also manufactures equipment for farming, waste management and demolition. Its products are being sold worldwide reaching every small to large construction and agriculture companies. Currently they are extensively sold in over 150 countries. JCB have a huge manufacturing base of 22 factories across major continents of Asia, Europe, North and South America. They are seen world-wide as the best excavators and and diggers. It started its journey by making the first hydraulic trailer.
And later in 1957 and 1960, it started preparing excavators and hydraulic tractors simultaneously. In India, JCB started its operations in 1979.
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