JSW Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of JSW analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on JSW marketing mix, help the brand succeed in the market. Let us start the JSW Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
JSW Product Strategy:
The product strategy and mix in JSW marketing strategy can be explained as follows:
JSW is one of the leading conglomerates in India. The key products, services and businesses in the marketing mix of JSW group are – Steel, Energy, Infrastructure, Cement, Sports and Ventures. Its steel business is the flagship company and a major contributor to the group’s revenue. JSW has a capacity of 18 MTPA and it is an integrated steel manufacturer. Its product portfolio comprises Hot Rolled, Cold Rolled, Bare & Pre-painted Galvanized & Galvalume, TMT Rebars, Wire rods and also it produces special steel. JSW Energy operates in both Thermal and Hydel and the combined capacity of energy production is 4,531 MW.
The capacity of JSW Infrastructure is about 33 MTPA and it develops seaports, Shipyards, Townships and special economic zone (SEZ) that are based on ports. This Infra division also involves in industrial clusters and last mile connectivity like road, rail and inland water transport. JSW cement is currently having the capacity of 6MTPA and it uses the slag from its steel plants as raw material to produce a type of cement called green cement. JSW Ventures invests in companies that are working in new technologies like IoT, Saas and FinTech. JSW Sports owns the franchisees like Bengaluru Football Club & The Bengaluru Yodhas wrestling team and also it has a academy where it trains athletes to help them qualify for Olympics in its Sports Excellence Program.
Image: company website
JSW Price/Pricing Strategy:
Below is the pricing strategy in JSW marketing strategy:
JSW uses different pricing strategies for different sectors and the major contributor and its flagship company JSW Steel uses a strategy that is not fixed. As the raw material prices are very dynamic and market forces change very frequently it has to modify its strategies to be successful.
Prices are generally reviewed and modified every fortnight or at least once in a month. It also follows differential pricing by pricing differently at different locations. Current JSW Neo Steel TMT bars are prices starts at Rs.242 for 8mm and 32mm bar is priced at nearly Rs.3734. These are the prices per piece.
JSW Place & Distribution Strategy:
Following is the distribution strategy in the JSW marketing mix:
JSW group is present across different countries and its major markets include – India, USA, South America & Africa. This shows the strong place strategy in its marketing mix. JSW steel is manufactured from the plants at Karnataka, Tamil Nadu and Maharashtra. It also has steel mill in Texas. Its Energy business caters to the needs of customers in different Indian states and also it has a stake in companies in South Africa. Its Infrastructure department develops ports in Goa and Maharashtra. Its cement business is operated from plants at Karnataka, Nandyal in Andhra Pradesh and Dolvi in Maharashtra. It has strong distribution networks in the name of JSW Shoppe which is a retail network. It is chain of nearly 400 retail stores across the country.
For B2B customers it has an online platform called JSW Steel e-Mart.
JSW Promotion & Advertising Strategy:
The promotional and advertising strategy in the JSW marketing strategy is as follows:
As the businesses are mostly B2B JSW involves in dealer promotional activities. It uses ad campaigns which are run in television and digital spaces. Its latest brand promotion ‘Rukna Nahi Hai’ is launched for Olympics. It also uses on ground amplifications, slides and ads in cinema halls and also outdoor promotions like billboards and hoardings at strategic locations. JSW uses social media platforms also effectively to promote its brand. Ogilvy & Mather creates ads for JSW, it previous ads include ‘will of steel’ showing its brand ambassador Geeta Phogat journey into mainstream wrestling.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of JSW.
People:
JSW group employs a diverse workforce of nearly 40,000 individuals. It is a people centric organization and provides its employees a great environment and culture to work in. JSW provides opportunities to grow and prove themselves to its employees and also provide them with training and mentoring to grow high up the ladder to create leaders within the organization. It gives very much importance to diversity and culture fit while recruiting new talent. It has special programs like JSW leaders which conducts sessions for managerial level employees and teach practical applications to be successful in real world. JSW also has programs to improve productivity of employees which uses concepts by Franklin Covey.
Process:
In order to maintain one of the largest conglomerates in India successfully there should be a process efficiency in every activity and this is practically employed by JSW. It is a highly integrated company. Its cement division uses slag from steel division and thus converting industrial by-product into a useful raw material it has reduced the carbon footprint. JSW Energy is one of the most efficient energy companies in India. It has a rigorous corporate governance norms and every operation is transparent. The locations JSW chooses to operate from are also strategically selected.
Physical Evidence:
JSW group headquarters is located at JSW Complex in Mumbai. Its plants that manufacture cement and steel are located in many parts of the country. It is a publicly traded company and listed in NSE. It maintains website and social media accounts to give information about the company. It also releases financial reports and investor presentations that has a comprehensive information about company’s current status and performance and also hints about future projects and direction it wants to go. Its logo is JSW written in a blue colour font with red curves on the top of the JSW. It uses a tagline ’No Limits’. All these summarize the JSW marketing mix.
About JSW:
Founded in 1982 by Sajjan Jindal JSW Group is one of the biggest conglomerate in India. The group operates in the fields of Steel, Energy, Mining, Infrastructure and cement sectors in several parts of the world. This group also work in the field of sports. All the domains in which JSW operates are key economic sectors in India and this group is a part of nation development in a way.
JSW is prominently known as ‘strategic first mover’ as it does fundamental changes in how these sectors operate for optimum efficiency. JSW steel is India’s leading private sector player and its Energy business is one of the first private player to enter this sector.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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