Suzlon Energy Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of Suzlon Energy through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Suzlon Energy Product Strategy:
Suzlon Energy is one of the leading energy generation companies in India. Suzlon manufactures all the elements that are required to provide a wind energy solution to its clients. And these include blades, panels, generators, turbines, nacelle and foundations & towers. Under its wind Energy it has phased out manufacturing its old WTG models that produce 600 KW to 2100 KW. But Suzlon Energy still supports and maintains these models. S97 is its latest 2.1MW range WTG. This is available in two variants - S97 90m, this one reaches a height of 90 meters and is all steel tower in tubular model. S97 120m is another variant under this model and it reaches about 120m. It is also a steel structure but the lattice and tubular are connected with a specialized piece for transition. The speciality of this S97 is makes low wind sites more feasible to customers as it generates good amount of energy. The other product of Suzlon is S111, this one also available in two variants of the height 90m and 120m. This covers the product strategy in its marketing mix.
Image: company website
This concludes the product strategy in Suzlon Energy marketing mix & strategy.
Suzlon Energy Price/Pricing Strategy:
Below is the pricing strategy in Suzlon Energy marketing mix strategy:
Suzlon Energy has got a wide offering and hence a wide price range. The pricing strategy of the company is important to its marketing mix, which is explained as follows.
Price of wind turbines include many factors to arrive at. The project size, location and type of WTG all affect the price. Moreover, Suzlon offers other services for its customers like analysing the location to check the suitability, transportation and charges for constructing the towers. It includes the costs of maintenance, protection, transformers and insurance while pricing for the customer. The prices vary depending on the capacity of power they can generate. For example, a turbine that produces 2MW power costs nearly $2.8 mil. A 10KW WTG is nearly $48,000 and a 1KW WTG is priced in the range of $2,800 to $4,800. As the competition is increasing Suzlon is pricing at competitive level and looking for ways to bring the costs down.
Suzlon Energy Place & Distribution Strategy:
Following is the distribution strategy in the Suzlon Energy marketing mix:
Suzlon Energy has installed its machines in nearly 19 countries around the world. Suzlon has manufacturing capacities in India and China. Tianjin in china is where Suzlon produces its products apart from different locations in India. In India it produces different parts in different locations like – Blades are produced at Pondicherry, Bhuj, Daman and other facilities. Generators, Nacelle and Hub and panels are produced at Coimbatore.
Suzlon Energy is present in six continents Asia, Africa, Europe, Australia and North and South America.
Suzlon Energy Promotion & Advertising Strategy:
The promotional and advertising strategy in the Suzlon Energy marketing mix is as follows:
As Suzlon Energy is in B2B business all its promotional strategies are designed in such a manner where it reaches effectively to its prospective customers. Deep insights into the Suzlon’ s products and its benefits along with costs are clearly conveyed to the customers. It involves in direct selling and sales promotions. Also public relations are used by Suzlon to have a good brand image for the clients to have trust on its capabilities. Direct mails are sent to the clients explaining about the products and solutions and to make the sale and convert the contacts into sales Suzlon uses sales promotions and is flexible about some prices with negotiations.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Suzlon Energy.
People:
Suzlon supports and cherishes the dynamic work force of nearly 8000 employees and are treated as the company’s most valuable assets. The culture of the organization is to respect everyone and empower them to help them reach their goals. Suzlon gives a freedom for its employees when it comes operations. Suzlon touts it ‘global experience, local expertise’ approach to recruit talent as it employs people from 23 different nationalities. This helps Suzlon in leveraging the local multifaceted talent and become a one true multinational with workforce that are global in nature and experts in profession.
Process:
Suzlon Energy has several business processes in place. With the experience it gained over the years all the processes at Suzlon, be it manufacturing, installing or maintaining the WTG’s are operationally efficient. Suzlon is one of those companies where vertical integration is of utmost priority. Suzlon’ s advantage lies in its control over the time required, costs incurred, quality produced in all of its projects. The technology of Turbine integration that Suzlon holds is one of the best in the industry practices. And all of these process efficiency mechanisms put in place results in a much faster product rollout.
Physical Evidence:
Suzlon Energy ‘s headquarters is located at a place called One Earth in Pune, India. It is one of the best corporate offices in the world. It is a 10-acre environment friendly campus. Suzlon is a listed company in national stock exchange and releases annual reports and financial statements every year along with investor presentations. These reports include information about the company’s performance and its future objectives. Suzlon has a tagline ‘Powering a Greener Tomorrow’ indicating what company does and its business motive. Hence, this covers the entire marketing mix of Suzlon Energy.
About Suzlon Energy:
Suzlon Energy Ltd. Is established in 1995 in Pune, India with an aim to make this world a greener place and to enable sustainable development. Suzlon provides renewable energy solutions and present in 19 countries around the globe stretched across six continents. Suzlon is known for its end to end solutions in wind energy from acquiring land to product management. Suzlon have already installed a wind energy capacity of nearly 15.5 Giga Watts. Because of the kind of solutions, they provide Suzlon have one of the largest R&D centres in different countries. Suzlon has installed its 10,000th wind turbine in 2015. Its current CEO is J.P.
Chalasani and Tulsi Tanti is its MD. Suzlon is a publicly traded company listed in both Bombay and National Stock exchange.
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