Crompton Greaves Marketing Strategy – Marketing Strategy of Crompton Greaves: Founded in 1937, Crompton Greaves Limited (‘CG’ or ‘the Company’) is one of the world’s leading global enterprises offering products, platforms, and end-to-end solutions to electrical utilities and industries. Crompton Greaves Ltd has changed its name to CG Power and Industrial Solutions Limited recently.
It collaborates closely with many Associates/ Joint Venture as well as subsidiaries, such as CG Power Solutions Ltd, CG – PPI Adhesive Products Limited, KK El-Fi Japan, QEI, LLC, Saudi Power Transformers Company Ltd, and many others.
Crompton Greaves At A Glance – Marketing Strategy of Crompton Greaves
Company : Crompton Greaves Consumer Electricals Limited
CEO: Mathew Job
Founder: R. E. B. Crompton
Year founded: 1937
Annual Revenue: INR55.15 billion
Profit | Net income: INR3.2 billion
Number of employees : 980
Products & Services: Fans, Lamps and luminaries to pumps and household appliances such as water heaters, mixer grinders, toasters, irons and electric lanterns
Crompton Greaves Competitors
Crompton Greaves Fun Facts: The origins of CG can be traced back to the pioneering work of Colonel REB Crompton, who, in 1878 founded a business at Chelmsford, Essex, England under the name of REB Crompton & Co., to engage in the manufacture and contracting of electrical equipment.
Marketing Strategy of Crompton Greaves
Crompton Greaves’s Marketing Strategy covers various aspects of the business right from segmentation and targeting to the overall mission and vision of the company and the various parameters which the company executes to become the top brand that it has in the market. So what is the Marketing Strategy of Crompton Greaves? Let us discuss.
Segmentation, Targeting, Positioning – Crompton Greaves Marketing Strategy
Segmentation is an important part of determining the variables that will determine which offerings. Crompton Greaves employs Geographic as well as Psychographic Segmentation Strategies.
It employs differentiated targeting strategies to attract targeted customers or potential customers, and strategies positioning accordingly.
The brand appeals to both retail and corporate customers. It uses a product class-based positioning strategy as well usage-based positioning strategy, to help the customer understand how technology can be leveraged with different offerings.
Crompton Greaves Mission Statement
“To create value for customers by facilitating integrated solutions and superior products and services for generation, transmission, distribution, and utilization of electrical energy”
Crompton Greaves Vision Statement
“Transforming needs into smart solutions for quality life”
Crompton Greaves Tagline
“Smart Solutions…Strong Relationships”
Competitive Advantage – Marketing Strategy of Crompton Greaves
Strong Product Portfolio: The Cromptongreaves product portfolio includes network protection, switchgear, and Power Automation Products. It also offers turnkey solutions. This portfolio also includes transformers, circuit breakers, and control gear. These product categories are all available to the company, but they have been grouped into strategic businesses units, namely Power transmission and distribution and industrial systems.
A stronghold in the developing countries: Through its technological edge, manufacturing capabilities, and efficient workforce it is not only helping to grow the economy but also providing support to the government in the same way as Indian railways.
BCG Matrix – Crompton Greaves Marketing Strategy
Crompton Greaves has two strategic business units, i.e.
- Power Systems offers switchgear and transformer, circuit breakers, vacuum interrupters, network protection, control gears, and vacuum interrupters.
- Industrial System offers power conversion equipment, railway transportation and signaling equipment, converters & inverters, and other industrial equipment.
Its power systems business accounts for 70% of the consolidated revenues. However, due to a large number of companies in the market, its industrial system is a question point in the BCG matrix.
Distribution Strategy – Marketing Strategy of Crompton Greaves
Crompton Greaves sells products through wholesalers, retailers, e-commerce websites, and resellers. It also sells corporate solutions through its channel.
It works closely with its B2B clients to provide them with service and product deliveries just-in-time according to their needs.
Brand equity – Crompton Greaves Marketing Strategy
Crompton Greaves is a household name among developing countries due to its value-for-money electric appliances. These appliances are easily accessible through various channels, creating high market visibility and high TOMA (top-of-mind awareness).
It has won many awards and honors, including the By Dun & Bradstreet Award for No.1 in power equipment (2015), National Award for Best Research & Development Efforts 2007, and Golden Peacock Innovative Product / Service Award (2007).
Competitive Analysis – Crompton Greaves Marketing Strategy
In an industry where supply chain synergies are crucial when it comes down to competing with peer companies, both the operational processes of the firm and their experience are equally important. Crompton Greaves competes against international businesses like Samsung and Philips.
Crompton Greaves can compete in the market based on factors like market penetration, product portfolio, strategic partnership with other companies, and quality of products.
Market Analysis – Marketing Strategy of Crompton Greaves
The industry landscape is changing rapidly due to rising labor costs, increased digital awareness, government policies and regulations, automation in industry, changing lifestyles, and growth.
High exit and entry barriers are why companies have invested more in technology advancement and building synergies throughout the supply chain.
Customer Analysis – Crompton Greaves Marketing Strategy
Crompton Greaves customers are middle-class and lower-middle-class groups in the retail business. Resellers, wholesalers, and distributors as well as corporate customers, are other customer groups Crompton Greaves serves.
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