Marketing strategy of RELIANCE POWER RENEWABLE STRATEGY

Posted by Zander Henry on Aug-22-2018

1. The vision of RELIANCE POWER RENEWABLE STRATEGY

The vision of RELIANCE POWER RENEWABLE STRATEGY is to be the leading quality service and product provider for customers. Being the best and the leading player means that RELIANCE POWER RENEWABLE STRATEGY marketing strategy and operations focus on:

• Providing high quality of products and services
• Providing value to customers
• Concentrate on building customer experience

2. The mission of RELIANCE POWER RENEWABLE STRATEGY

RELIANCE POWER RENEWABLE STRATEGY marketing strategy is grounded in its mission. The mission for RELIANCE POWER RENEWABLE STRATEGY is to be the favorite brand of the customers. This mission is essential for the marketing strategy of RELIANCE POWER RENEWABLE STRATEGY as it focuses on all operations and marketing activities in the direction of:

• Consumer centrism
• Using research to understand and influence consumers

3. Brand Equity of RELIANCE POWER RENEWABLE STRATEGY

Understanding and knowing the brand equity is vital for directing and giving meaning to the marketing strategy of RELIANCE POWER RENEWABLE STRATEGY. The knowledge of brand equity will help in shaping RELIANCE POWER RENEWABLE STRATEGY marketing strategy effectively – thereby facilitating the growth of business for RELIANCE POWER RENEWABLE STRATEGY.

3.1. Brand awareness

• RELIANCE POWER RENEWABLE STRATEGY has high brand awareness because of international operations
• The company focuses on higher budget allocation in the country of origin
• Each market for RELIANCE POWER RENEWABLE STRATEGY has modified marketing and strategic directives and plans

3.2. Brand association

• RELIANCE POWER RENEWABLE STRATEGY is directly associated with the brand name and product category
• RELIANCE POWER RENEWABLE STRATEGY has a broad product portfolio
• RELIANCE POWER RENEWABLE STRATEGY is associated with promising and delivering quality and innovative products
• RELIANCE POWER RENEWABLE STRATEGY is also associated with excellent customer service

3.3. Brand loyalty

• RELIANCE POWER RENEWABLE STRATEGY has been successful at gaining high consumer loyalty because of unique and influential marketing strategy
• RELIANCE POWER RENEWABLE STRATEGY has a global customer base
• RELIANCE POWER RENEWABLE STRATEGY keeps adding value addition to the products and product portfolio to keep consumers engaged

3.4. Brand asset

• RELIANCE POWER RENEWABLE STRATEGY has a substantial brand value
• RELIANCE POWER RENEWABLE STRATEGY also enjoys the high financial worth
• RELIANCE POWER RENEWABLE STRATEGY focuses on building a reliable and robust employee base

3.5. Brand element

• RELIANCE POWER RENEWABLE STRATEGY uses the brand element as a means of competitive advantage
• Uses adaptability in product, services, and marketing to meet different cultural demands

4. Situational Analysis of RELIANCE POWER RENEWABLE STRATEGY

The situational analysis will help in developing the marketing strategy of RELIANCE POWER RENEWABLE STRATEGY by conducting a thorough market analysis. This market analysis will aid in understanding the compatibility between external opportunities and other factors, and internal strengths – to be used to maximize the marketing influence of RELIANCE POWER RENEWABLE STRATEGY.

4.1. SWOT

4.1.1. Strengths

RELIANCE POWER RENEWABLE STRATEGY marketing strategy can benefit from the following internal advantages:

• Strong brand image
• Global distribution network
• Investment in market research
• Innovation

4.1.2. Weakness

RELIANCE POWER RENEWABLE STRATEGY faces challenges in marketing strategy because of the following weakness:

• Slow organizational processes
• High product prices

4.1.3. Opportunity

RELIANCE POWER RENEWABLE STRATEGY has the following possibilities of business growth:

• Green lifestyles
• Regional expansion
• Diversification

4.1.4. Threats

RELIANCE POWER RENEWABLE STRATEGY faces business threats because of the following factors:

• Increased competition
• Increased imitation

4.2. PESTEL

4.2.1. Political

• RELIANCE POWER RENEWABLE STRATEGY operates I markets with political stability
• RELIANCE POWER RENEWABLE STRATEGY has funding support from the government for small businesses

4.2.2. Economic

• RELIANCE POWER RENEWABLE STRATEGY enjoys high sales because of higher GDP
• Lower interest rates make business expansion and loaning easier for RELIANCE POWER RENEWABLE STRATEGY
• Low inflation strengthens the financial position of RELIANCE POWER RENEWABLE STRATEGY

4.2.3. Social

• Higher education and awareness increases sales of RELIANCE POWER RENEWABLE STRATEGY predict
• RELIANCE POWER RENEWABLE STRATEGY focuses on understanding consumers and fulfilling their demands through its offerings

4.2.4. Environmental

• RELIANCE POWER RENEWABLE STRATEGY has an active CSR program
• RELIANCE POWER RENEWABLE STRATEGY ensures environmental safety in all its operations

4.2.5. Legal

• RELIANCE POWER RENEWABLE STRATEGY is aware of local and global laws of business and human resource management
• RELIANCE POWER RENEWABLE STRATEGY abides by all statutes – especially labour law, discrimination law, and employee safety laws

4.3. Porter’s Five Forces

4.3.1. Threat of substitutes

• High risk of replacements
• Substitutes offer similar products at low prices

4.3.2. The threat of new entrants

• New entrants need high financial investment
• New entrants need updated technology for keeping par with industry progress

4.3.3. Bargaining power of buyers

• Sales made to end consumer directly
• Stocking of products at retailers, as well as own-controlled retail outlets

4.3.4. Bargaining power of suppliers

• Multiple suppliers of raw materials
• Suppliers are chosen after careful inspection, and through contracts

4.3.5. Industry rivalry

• High industry rivalry
• Players offer similar products
• Players compete through marketing to influence consumers

5. Marketing Objectives for RELIANCE POWER RENEWABLE STRATEGY: The Marketing Strategy of RELIANCE POWER RENEWABLE STRATEGY

RELIANCE POWER RENEWABLE STRATEGY marketing strategy has the following objectives for the current financial year:

5.1. Increased market penetration

• Increase top of mind recall for RELIANCE POWER RENEWABLE STRATEGY brand and products by 30%
• Increase sales for RELIANCE POWER RENEWABLE STRATEGY by 40% by the third quarter of the financial year
• Achieve a trial rate for new products of 10% during the first quarter of the launch
• Increase consumption rate of existing products by 45% during the current financial year

5.2. Enhanced brand recognition

• Increase top of mind recall by 65% during the current fiscal year
• Increase brand recognition by 80% during the first two quarters of the current financial year

5.3. Increased use of digital marketing

• Acquire 25,000 new online customers during the financial year
• Increase website traffic through using blogging and email tactics effectively by 505 during the first two quarters of the year
• Acquire 65,000 likes on the official Facebook page of RELIANCE POWER RENEWABLE STRATEGY during the first quarter of the financial year

5.4. Retail Growth

• Contract with five more leading supermarkets in the first quarter of the year to stock product at eye level shelving
• Contract with two leading online retail sites – eBay and Amazon – to stock our products, and increase accessibility for consumers globally by the second quarter of the financial year

6. Segmentation of RELIANCE POWER RENEWABLE STRATEGY

RELIANCE POWER RENEWABLE STRATEGY marketing strategy uses different means of segmentation to reach an increase in market penetration.

6.1. Demographic segmentation

6.1.1. Age

RELIANCE POWER RENEWABLE STRATEGY has consumers of age groups

• 20-45 years
• 45-60 years

6.1.2. Gender

• RELIANCE POWER RENEWABLE STRATEGY has a broad product portfolio for both males and females

6.1.3. Life-cycle stage

Consumers for RELIANCE POWER RENEWABLE STRATEGY, according to the marketing strategy, are in the following various life cycle stages:

• Single students
• Single graduates
• Single people living at home/not living at home
• Young couples without children
• Married couples with one to four children – all at home
• Married couples with one or two children in college
• Old married couples with an empty nest

6.1.4. Occupation

The marketing strategy devises the following occupations for RELIANCE POWER RENEWABLE STRATEGY consumers:

• Professionals
• Students
• House makers

6.2. Psychographic segmentation

6.2.1. Social class

• RELIANCE POWER RENEWABLE STRATEGY focuses on segments of middle-upper and upper social classes

6.2.2. Lifestyle

RELIANCE POWER RENEWABLE STRATEGY consumer segments have the following lifestyle characteristics:

• They aspire towards a better and higher living standard
• They want to be successful – professionally and socially
• They are not hesitant to try new things, products and services in life
• They are confident in their behaviour and attitude
• They are mainstreamers in their fields

6.3. Geographic segmentation

6.3.1. Region

• RELIANCE POWER RENEWABLE STRATEGY has operations spread across the western developed countries such as America, the united kingdom, and the Netherlands
• It also has operations in emerging markets such as Brazil, India, and China

6.3.2. Density

• The focus of RELIANCE POWER RENEWABLE STRATEGY remains on the urban part of the population

6.4. Behavioural segmentation

6.4.1. Personality

The marketing strategy defines personality characteristics for the consumers of the brand of RELIANCE POWER RENEWABLE STRATEGY, such as:

• Determined
• Confident
• Ambitious
• Hardworking

6.4.2. Usage frequency

• The consumer segments for RELIANCE POWER RENEWABLE STRATEGY are regular and frequent users of the product

6.4.3. Benefits sought

• Consumers seek functional benefits
• The focus, however, is more on the emotional benefits reaped from the consumption of the brand

6.4.4. Degree of loyalty

• Consumers are very loyal
• Have an emotional attachment with the brand

7. Targeting of RELIANCE POWER RENEWABLE STRATEGY Positioning of RELIANCE POWER RENEWABLE STRATEGY

The marketing strategy of RELIANCE POWER RENEWABLE STRATEGY targets consumer groups based on segmentation as follows:

7.1. Target market

• The target market for RELIANCE POWER RENEWABLE STRATEGY is from middle to upper class
• The target market is ambitious and desires to purchase high-end consumer products
• This target market also seeks affordability
• To meet target market expectations, the RELIANCE POWER RENEWABLE STRATEGY focuses on quality control

7.2. Mass marketing

• The marketing strategy of RELIANCE POWER RENEWABLE STRATEGY focuses on mass marketing
• This also requires unique marketing designs and product promotion programs
• RELIANCE POWER RENEWABLE STRATEGY makes use of one strategy to influence all segments

7.3. Undifferentiated marketing strategy

• RELIANCE POWER RENEWABLE STRATEGY does not differentiate between market segments
• It uses a single marketing strategy to target all segments and consumer groups
• Based on this, RELIANCE POWER RENEWABLE STRATEGY also created the marketing mix under the marketing strategy as a singular one for the whole market – regardless of the segmentation divides.

7.4. Focus on quality

• RELIANCE POWER RENEWABLE STRATEGY has created, developed, and maintained a brand that satisfies all consumers under the undifferentiated marketing strategy and mass marketing
• No compromise on quality has been made in the broad product portfolio
• To ensure the influence of a single marketing strategy, the RELIANCE POWER RENEWABLE STRATEGY has also adopted a consumer-centric approach in its overall marketing strategy and operations as well
• This was used for targeting strategy as well as for maintaining growth

8. Company Competitive Advantage in the marketing strategy of RELIANCE POWER RENEWABLE STRATEGY

The marketing strategy of RELIANCE POWER RENEWABLE STRATEGY stands out from the clutter and competition. RELIANCE POWER RENEWABLE STRATEGY has also achieved a sustainable competitive advantage in its marketing strategy. This is because of the following factors that RELIANCE POWER RENEWABLE STRATEGY has utilized:

8.1. Cost-effectiveness

• RELIANCE POWER RENEWABLE STRATEGY focuses on reaching consumers effectively rather than grandeur
• RELIANCE POWER RENEWABLE STRATEGY focuses on developing an integrated marketing approach
• The use of digital marketing efficiently and expertly has helped the company reach a wider audience at a lower cost
• RELIANCE POWER RENEWABLE STRATEGY has in-house copywriters for marketing campaigns which also helps in controlling costs
• RELIANCE POWER RENEWABLE STRATEGY also focuses efforts on ground activities – which are less expensive than commercial marketing tactics

8.2. Innovation

• RELIANCE POWER RENEWABLE STRATEGY has stayed updated with latest developments in marketing research and marketing knowledge
• RELIANCE POWER RENEWABLE STRATEGY makes use of new and innovative tactics to reach its target consumers
• RELIANCE POWER RENEWABLE STRATEGY also employs top of the field marketers to facilitate its marketing strategy and promotional campaigns
• Each marketing campaign launched by RELIANCE POWER RENEWABLE STRATEGY is effective catchier and more influential than the previous one

8.3. Strong market research and consumer understanding grounded

• RELIANCE POWER RENEWABLE STRATEGY marketing strategy is strongly grounded in consumer and market research
• RELIANCE POWER RENEWABLE STRATEGY makes informed marketing campaigns and goals based on consumers’ behavioural feedback
• RELIANCE POWER RENEWABLE STRATEGY also incorporates consumer feedback in its marketing strategy
• RELIANCE POWER RENEWABLE STRATEGY marketing strategy is based on market trends, and consumer needs and wants

8.4. Making effective use of emotional appeals

• Consumers’ emotional needs strongly influence all marketing objectives and marketing goals set by RELIANCE POWER RENEWABLE STRATEGY
• In addition to fulfilling functional needs, RELIANCE POWER RENEWABLE STRATEGY also tries to fulfil the emotional and psychological needs of the consumer
• RELIANCE POWER RENEWABLE STRATEGY tries to build a strong emotional bond with the consumer, which also results in high consumer loyalty

9. Distribution Strategy of RELIANCE POWER RENEWABLE STRATEGY

RELIANCE POWER RENEWABLE STRATEGY marketing strategy highlights the use of the following distribution strategy to maximize reach and accessibility for consumers.

9.1. Intensive distribution strategy

• RELIANCE POWER RENEWABLE STRATEGY makes use of intensive distribution strategy because it is mass marketing
• RELIANCE POWER RENEWABLE STRATEGY’s marketing strategy is based on undifferentiated segments, and thus an intensive distribution strategy allows high penetration and reaches in the overall market
• With the use of the intensive distribution, RELIANCE POWER RENEWABLE STRATEGY tries to maximise its coverage of the markets where it's present
• For achieving the intensive strategy, the company uses hardcore 360-degree integrated marketing strategy and campaign to reach all consumers, across all segments in the market.

9.2. Direct distribution strategy

• RELIANCE POWER RENEWABLE STRATEGY uses direct distribution country of origin as well as in locations where it has subsidiary operations
• The RELIANCE POWER RENEWABLE STRATEGY also makes use of modern retailing channels
• Also, RELIANCE POWER RENEWABLE STRATEGY makes use of e-commerce and makes a sale through online retailers, as well as through the company website
• Direct distributions have allowed RELIANCE POWER RENEWABLE STRATEGY to increase market penetration and accessibility for consumers

9.3. Indirect distribution strategy

• This strategy is largely used for offshore operations where the RELIANCE POWER RENEWABLE STRATEGY does not have a subsidiary
• In these offshore locations, RELIANCE POWER RENEWABLE STRATEGY largely works through the export model
• This makes use of several intermediaries in between, before the product by RELIANCE POWER RENEWABLE STRATEGY reaches the target consumers
• Intermediaries for RELIANCE POWER RENEWABLE STRATEGY include not only the end retail outlets, but also sales agents, retail agents, and distribution agents in offshore locations

9.4. Selective distribution strategy

• For some products of its portfolio which are premium in nature, RELIANCE POWER RENEWABLE STRATEGY makes use of selective distribution channel
• RELIANCE POWER RENEWABLE STRATEGY has maintained a few outlets in the country of origin, and in selected offshore markets for these products
• These placements and locations are chosen based on the niche market that RELIANCE POWER RENEWABLE STRATEGY has for its premium products
• These locations, placements, and marketing strategy helps make the company’s product selectively, but readily accessible for its niche target audience

10. Competition Analysis in the marketing strategy of RELIANCE POWER RENEWABLE STRATEGY

The industry in which RELIANCE POWER RENEWABLE STRATEGY operates is very responsive to market and consumer trends. RELIANCE POWER RENEWABLE STRATEGY, therefore, needs to be vigilant in its market strategy towards competition – to make sure that it maintains its competitive advantage.

10.1. Strategic Group Analysis

• RELIANCE POWER RENEWABLE STRATEGY competes with direct and close competition based on quality and price
• Consumers choose between different companies from the industry based on their functional offering
• Consumers have progressively evolved to strengthen loyalty and form an emotional bond with products that they consume
• RELIANCE POWER RENEWABLE STRATEGY also competes, thereby, with close competition for building stronger brand image, increasing consume loyalty, and for forming strong emotional ties with the consumer

10.2. Industry rivalry

• RELIANCE POWER RENEWABLE STRATEGY experiences high industry rivalry
• The barriers to entry for the industry are low, and new entrants gain easy access in the industry
• The number of local as well as global players is increasing

11. Marketing mix of RELIANCE POWER RENEWABLE STRATEGY

The marketing mix for RELIANCE POWER RENEWABLE STRATEGY as per the marketing strategy is the following:

11.1. Product

• RELIANCE POWER RENEWABLE STRATEGY has a broad product portfolio
• RELIANCE POWER RENEWABLE STRATEGY provides mass marketed products for all segments across the market undifferentiated
• RELIANCE POWER RENEWABLE STRATEGY also provides some selected, premium products to niche customer groups
• All products in the portfolio consistently maintain high quality
• All products are tailored to meet consumer specifications, demands and needs across different regional markets
• The RELIANCE POWER RENEWABLE STRATEGY maintains a high focus on innovation in products and introduces new products frequently to keep the consumers engaged

11.2. Place

• RELIANCE POWER RENEWABLE STRATEGY wants to have a close, emotional and personal relationship with its consumers
• The company maintains high control in its distribution strategies – especially through direct distribution strategy
• The company has a presence in leading supermarkets
• The RELIANCE POWER RENEWABLE STRATEGY also has company-operated stores in malls, and otherwise to make products accessible to consumers easily
• RELIANCE POWER RENEWABLE STRATEGY also makes use of e-commerce to increase penetration and sales

11.3. Price

• The RELIANCE POWER RENEWABLE STRATEGY prices its products so that its target consumers can afford it easily
• RELIANCE POWER RENEWABLE STRATEGY uses relative pricing strategy for its products
• The price of RELIANCE POWER RENEWABLE STRATEGY’s products include not only the high quality raw materials and value additions but also the enhanced customer experience they deliver
• The company’s pricing strategy allows it to enjoy stable revenue and profit growth

11.4. Promotion

• The RELIANCE POWER RENEWABLE STRATEGY has a high budget allocated towards marketing activities
• The RELIANCE POWER RENEWABLE STRATEGY invests substantially in digital marketing activities to reap high and effective results
• Use of digital marketing has also allowed RELIANCE POWER RENEWABLE STRATEGY marketing strategy to cap costs and expenses
• RELIANCE POWER RENEWABLE STRATEGY also takes part in direct consumer engagement through on-ground activities where the company initiates trials
• RELIANCE POWER RENEWABLE STRATEGY also invests in traditional media channels to reach maximum consumers in the market

11.5. People

• RELIANCE POWER RENEWABLE STRATEGY has a large workforce across different companies
• This workforce is continually trained to become experts in their respective fields of operations
• RELIANCE POWER RENEWABLE STRATEGY hires without discrimination
• RELIANCE POWER RENEWABLE STRATEGY ensures that its employees remain motivated through building an inspirational and creative organizational culture
• RELIANCE POWER RENEWABLE STRATEGY focuses on also building and maintaining organizational commitment and loyalty in its employees

11.6. Process

• All activities at RELIANCE POWER RENEWABLE STRATEGY - from raw material procurement to the final sale to the end consumer - undergo systematic processes
• The processes at RELIANCE POWER RENEWABLE STRATEGY are well defined, and well communicated to all employees
• All employees are trained to follow the processes internally to ensure consistently high quality as well as timely production and deliveries
• The systematic processes also ensure a smooth running of operations at the RELIANCE POWER RENEWABLE STRATEGY

11.7. Physical evidence

• The physical evidence for RELIANCE POWER RENEWABLE STRATEGY includes the company logo, company store designs, and the product packaging
• Satisfied and excited customers in the retail spaces of RELIANCE POWER RENEWABLE STRATEGY, as well as during product consumption create a bubbling and an inviting atmosphere
• The e-commerce website for retail by RELIANCE POWER RENEWABLE STRATEGY is also designed with a friendly customer interface to allow maximum interaction with the brand
• The store designs created by RELIANCE POWER RENEWABLE STRATEGY for its retail space allow consumers maximum interaction with the products directly.

12. Promotional tactics for the marketing strategy of RELIANCE POWER RENEWABLE STRATEGY

12.1. Digital marketing

• The company uses social media for reaching consumers effectively
• The RELIANCE POWER RENEWABLE STRATEGY interacts with the consumers directly, and engages with them, answers their queries and takes their feedback
• The company also shares information and build relationships with consumers through digital marketing
• RELIANCE POWER RENEWABLE STRATEGY also makes use of blogging, emails, and content creations as a means of digital marketing

12.2. Conventional marketing

• The company uses a 360-degree approach in its marketing strategy
• This means that the company makes use of traditional marketing channels as well – such as TV, magazine adverts, and out of house placements

12.3. Influencers

• For direct, on-ground engagement, the company uses influencers
• Influencers interact with consumers directly, or through their channels of communication as a means of content creation and endorsing the RELIANCE POWER RENEWABLE STRATEGY brand

13. Monitoring and evaluation of the marketing strategy of RELIANCE POWER RENEWABLE STRATEGY

13.1. Changes in sales

• RELIANCE POWER RENEWABLE STRATEGY regularly tracks its sales to identify the effectiveness of its marketing strategy
• Increase in sales reflect the success of marketing strategy of RELIANCE POWER RENEWABLE STRATEGY
• Sometimes, RELIANCE POWER RENEWABLE STRATEGY experiences increase ins ae after some time of the launch of the marketing promotions

13.2. Surveys and focus groups

• RELIANCE POWER RENEWABLE STRATEGY frequently conducts focus groups and surveys to identify its brand worth
• These methods also help the company identify brand value, brand recall, and brand recognition
• Focus groups allow RELIANCE POWER RENEWABLE STRATEGY to gather feedback on its marketing strategy and helps it understand consumers better

13.3. ROI

• Effectiveness of marketing strategy of RELIANCE POWER RENEWABLE STRATEGY can also be seen through the revenue and profit growth
• Return on investment allows RELIANCE POWER RENEWABLE STRATEGY to effective gauge the effect and influence of the marketing strategy, and measure its success

13.4. Attainment of marketing objectives

• All marketing objectives set by RELIANCE POWER RENEWABLE STRATEGY are SMART
• The quantitative set against each of the marketing objective can facilitate attainment evaluation for the overall marketing strategy
• Successful and timely attainment of these marketing objectives highlight the success of the marketing strategy of RELIANCE POWER RENEWABLE STRATEGY