Marketing Strategy of Eveready: Eveready Industries India Limited, the B.M Khaitan Group Company, was established in 1905 under the name Union Carbide India Ltd. Later, in 1993, it became part of the Williamson Magor Group. The company produces and markets tea.
It is not only present in India but also has expanded its global reach to include the Middle East, Africa, Asia, and the Middle East. Expanded into countries such as Sri Lanka, Bangladesh, Djibouti Mauritius Sudan, Eritrea, and Sri Lanka under the brand of LAVA. It currently exports its products to 15 countries.
Marketing Strategy of Eveready
Eveready’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 Eveready? Let us discuss.
Segmentation, Targeting, Positioning – Eveready Marketing Strategy
Segmentation is used to identify the customer’s needs and wants to offer the best products. It is essential to understand the customer to ensure that the product is a good fit for the customer. Eveready employs a mix of Geographic and Demographic segmentation strategies.
The majority of products are mass-market products within the Retail segments. Offerings customized for business firms can be done using a selective target strategy.
The company uses a value-based positioning strategy to emphasize the strength, durability, and long-lasting qualities of Eveready.
Eveready Mission Statement
Eveready Vision Statement
“To improve life quality by cutting-edge, portable lighting and energy solutions”
“Give Me Red”
Competitive Advantage – Marketing Strategy of Eveready
Extensive Distribution Network:
Reaching out to the bottom of the pyramid i.e. Rural, a Semi-Urban market in addition to the bigger cities is what helps the company in being ahead of its peers in the market. Its products are available across a variety of stores such as electrical, hardware, stationery, gift stores, Pan Wales, grocery shops, chemists’ shops, photo studios, printing centers, e-tailing websites, and modern supermarkets.
Wide Product Portfolio:
Large product portfolio and SKU (stock-keeping units) across business verticals has not only helped the company in occupying large shelf space in the shops but also is helping the company in optimizing its distribution cost through economies of scale and visibility in the market.
BCG Matrix – Eveready Marketing Strategy
The company is involved in several business verticals like Lighting & Electricals and batteries. As new business verticals, Packet Tea and Home Appliances are being added to the businesses of the group.
The company has a stronghold in business segments like Flashlight, Lighting & Electricals, and Batteries with 57%, 21%, and 14% respectively. These 3 businesses are stars in the BCG matrix, while other businesses (Packet tea and Home Appliances), are still struggling and are question marks in the BCG matrix.
Distribution Strategy – Marketing Strategy of Eveready
The Company has a strong presence in both the national and global markets.
It operates in India through a distributor network of over 4000, which helps the company serve more than 1 million outlets. The 18 sales offices are also supported by Pan India.
The company has 5 state-of-the-art manufacturing facilities in India at Chennai, Haridwar, and Maddur. They also can supply the main sales & marketing team with a continuous supply.
Brand equity – Eveready Marketing Strategy
The brand has been synonymous with Power & Energy for more than two decades thanks to its successful brand positioning.
The brand’s icon Bollywood actor Akshay Karma was a hit to help it associate with the younger generation. He helped the brand in recrystallizing its lost essence. The brand’s social media contests like Red Selfie and Watch & Win, Red Group Snap, Red Group Snap, and GMR TC have helped to increase engagement & awareness among customers.
Competitive Analysis – Eveready Marketing Strategy
Eveready competes against one or more companies within the FMCG and Electronics & home appliances industries. The company is a niche player in some product categories, but it has a strong presence in the market. This visibility and the brand name help in market acceptance.
Eveready is competing with Duracell and other companies like Sukam, Panasonic. Exide, Philips. Usha.
Market Analysis – Marketing Strategy of Eveready
Stable government, rising income levels, changing life, development of rural areas, increased urbanization and an increasing need for convenience have all contributed to an increase in demand.
Companies operating in this market recognize that the demand from developed markets is becoming saturated. They are now looking to penetrate the emerging markets. With the support of the channel suppliers and partners, the company is harnessing the potential of these markets.
Customer Analysis – Eveready Marketing Strategy
The company focuses on education and has separate sales channels for each business segment.
The customer in the Retail business is between 15-60 years old, while B2B customers are private, government agencies, manufacturers, and transporters.
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