Marketing Strategy of Reliance Industries Limited: It was 1957, when Dhirubhai Ambani returned to India after working for A. Besse& Co., Aden, Yemen, and began a modest business trading in yarns with 500 square. feet. workplace in Mumbai to build India’s largest corporation shortly.
Mr. Ambani then went on to Co-Found Reliance Commercial Corporation withChampaklalDamani in the late 1960s. The partnership ended the year 1965, but Dhirubhai continued with the business of polyester of the company. He then was later incorporated as Reliance Textiles Industries Pvt Ltd. and set up an industrial facility for synthetic fabrics at the time of its founding in 1966. In the year 1985, the company was changed from Reliance Textiles Industries Ltd. to Reliance Industries Ltd. As time passed, the company grew and diversified into other industries like :
The year 1995/96 saw Reliance entering the telecom sector by partnering with NYNEX, USA, and promoting Reliance Telecom Private Limited in India.
In 1998/99, we witnessed RIL as a name brand name Reliance Gas introducing packaged LPG in 15kg cylinders.
Between 1998 and 2000, RIL began to build the biggest refinery in the world, the integrated petrochemical complex in Jamnagar within Gujarat.
Reliance Industries Ltd. and Reliance Petroleum Ltd. in 2001 were India’s two biggest companies in terms of financial aspects and joined in 2001-02.
Reliance was witness to a demerger and restructuring of its operations in October 2005. The business was divided into two entities: Reliance Industries Limited. in addition to Reliance Anil Dhirubhai Ambani Group (ADAG) where ADAG was given Reliance Infrastructure, Reliance Communications, Reliance Natural Resources, Reliance Capital, and Reliance Power.
Read Article: What Is Marketing Strategy? Definition
Marketing Strategy of Reliance – Segmentation, Targeting, Positioning
- 1 Marketing Strategy of Reliance – Segmentation, Targeting, Positioning
- 2 Reliance Mission Statement
- 3 Reliance Vision Statement
- 4 Reliance Tagline
- 5 Marketing Strategy of Reliance – Competitive Advantage
- 6 Marketing Strategy of Reliance – BCG Matrix
- 7 Marketing Strategy of Reliance – Distribution Strategy
- 8 Marketing Strategy of Reliance – Brand equity
- 9 Marketing Strategy of Reliance – Market Analysis
- 10 Marketing Strategy of Reliance – Customer Analysis
- 11 Marketing Strategy of Reliance – Promotional Strategy
RIL is a name that can cater to the demands of a variety of consumers with its broad assortment of products that are available at its retail outlets as well as services including telecoms and petrol stations.
RIL utilizes a combination of demographic, geographic, and psychographic segmentation variables like gender, occupation age, income, and behavior, as well as the region, etc.
RIL applies differentiated, selective, and aggressive pricing strategies to its target market.
Reliance Mission Statement
“Create value for all stakeholders l Grow through innovation l Lead in good governance practices l Use sustainability to drive product development and enhance operational efficiencies l Ensure energy security of the nation l Foster rural prosperity.”
Reliance Vision Statement
“Through sustainable measures, create value for the nation, enhance the quality of life across the entire socio-economic spectrum and help spearhead India as a global leader in the domains where we operate.”
“Growth is Life”
Marketing Strategy of Reliance – Competitive Advantage
Big Conglomerate :
There are more than 85 subsidiaries as well as Associates to its name, RIL is still able to maintain an unbeatable position in the marketplace in the market. percentage of the market in India which is believed as the company’s greatest strength. It is recognized as the biggest petroleum company in India that has businesses in even the most rural areas in the nation. With a variety of subsidiaries and associates, RIL has a huge business network, not just in India but all over the world. In the context of that the Indian domestic market, there’s barely any rival offering this huge variety of services and products that could compete with this massive conglomerate.
A few of the key strengths competitive of the company include:
- As one of the largest companies in India, RIL has a strong branding that helps to create an image that is trustworthy among customers.
- Recognition by way of numerous awards, a strong financial performance, high profits, and a focus on whole-of-life growth, as well as participation in CSR initiatives, help the brand by enhancing its image among investors as well as other stakeholders.
- Its business is spread across the energy, petroleum, and telecoms, as well as retail. and with its strong marketing and marketing via TVCs and print courses advertisements, billboards and more company has been able to create a resonating effect for customers and thus increase brand loyalty.
- RIL is among the few Indian businesses that actively promote sports in India, being the owners of Mumbai Indians of the IPL and the 65 percent stake in the Indian Super League to help encourage football in India. it has the goal of pushing the Indian international football team to the top of the international rankings and getting international recognition by bringing the top players across the country through this league.
Marketing Strategy of Reliance – BCG Matrix
Reliance Industries Retail Business has been an absolute success for the company, with Reliance New and Trends having a higher than the average share in Tier 1 Metros, Tier 2 and.
Jamnagar refinery Global Management Service, Engineering as well as the newly established Telecom Service JIO hold the Star segment for the company.
Reliance Oil & Gas, Biopharmaceuticals, and Reliance Farms hold a decent market share within their respective areas and have grown and have now earned the position as a Cash Cow for the firm.
Reliance Petrochemicals, Broadband, and Reliance Digital either need more investment or are being taken over by the Conglomerate, as they remain in the Dog section in the BCG Matrix.
Reliance Petroleum again over the times has been the subject of a question mark for the company because its competition in government sector companies such as Hindustan Petroleum, Bharat Petroleum, and others. have a significantly larger market share.
Marketing Strategy of Reliance – Distribution Strategy
With a Pan-India distribution channel that includes more than 1 million retailers, and a rapidly expanding number of Reliance JIO Points and Reliance Retail Digital outlets also enables continuous development of various distributor channels with the latest technologies and solutions RIL is the biggest Distribution and Service Network in the nation.
With more than 3,300 stores across India that cover nearly 13 million square feet of space for retail, and are rapidly growing
Reliance Retail has over 3300 stores across India and has nearly 13 million sq feet of retail area. It is expanding rapidly. Reliance has grown to become the biggest retailer in the nation.
Marketing Strategy of Reliance – Brand equity
RIL was ranked 8 eighths by Platts as one of the Top 250 Global Energy companies in 2016. Conglomerate remains India’s biggest exporter, with 8.8% of India’s total exports of merchandise to 108 countries. Reliance is responsible for nearly 5 percent of the total revenue from customs and excise taxes.
RIL was the very first Indian company to surpass the $100 billion mark in market capitalization in October 2007. At the end of the year 2017, RIL is ranked 203 3rd in the Fortune Global 500 list of the biggest companies in the world.
In the year 2018 Reliance Retail crashed into the list of the world’s top 250 retailers, ranked number. 189. This further confirms the rapid growth of Indian consumers’ spending.
Marketing Strategy of Reliance – Market Analysis
With a market cap of more than Rs 8,20,000 crore, the company’s shares have increased by more than double since the advent of the telecom industry disruptor Reliance Jio. Petrochem along with the Refinery business are money cows to the group because RIL has been able to keep Petrochem margins at record highs and Retail is getting more attention, Jio has managed to make waves in the telecom industry and generate substantial dividends for the company by making data the center of attention.
Recent developments have witnessed significant growth in retail, telecom media, digital, and business. Through its investment of 4,000 crores in 2014, through Independent Media Trust (IMT), RIL acquired a 78 percent share in Network 18 and 9% in TV18 making it a participant in the world of media.
At present, RIL is India’s most appreciated company in terms of market capitalization, having surpassed 7 lac crore in m-cap, which makes it the second firm following IT bellwether Tata Consultancy Services to reach the highly sought-after milestone.
The introduction of JioFiber and the booming earnings from the retail sector as well as a rise in the profitability of its telecom and almost doubled petrochemical business profits assisted Reliance Industries to report the highest ever quarterly net profits for June 2018, boosting the value of the Reliance Industries to reach 100 billion.
Marketing Strategy of Reliance – Customer Analysis
With its wide range of services and products ranging from telecom-to-oil RIL provides for a broad spectrum of customers in the age range between 5-60 years, and more in its retail division catering to all kinds of customers since it offers something for everyone. The customer base of RIL ranges from the middle class of the rural areas, as well as the elite who live in metropolitan areas.
Marketing Strategy of Reliance – Promotional Strategy
Reliance as compared to other companies invests less when compared to other companies, spends less on promotions but is committed to lowering costs to attract customers. It focuses on BTL marketing as opposed to the ATL because it is less costly for the business, which is mostly its retail business, and also the launch of new products to start an excitement among customers, with Reliance Communications’ “KarloDuniyaMutthi me” slogan of 2003 and the promotional efforts of recently launched Reliance Jio being the prime examples of this.
RIL is also trying to create an emotional and social connection with its customers through organizing various rehabilitation programs and campaigns like EFA ( Education For All) which is the Reliance Foundation’s Social Initiative through which RIL has made educational opportunities available to more than 70k children who are in need over the past five years.
RIL also invests heavily in sporting activities and events across the country, with the company holding Mumbai Indians an IPL cricket team as well as holding an ownership stake of 65% Indian Super League for football.
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