Published by MBA Skool Team, Last Updated: October 03, 2017
Marketing Strategy of Bombay Dyeing analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on Bombay Dyeing marketing mix, help the brand succeed.
Bombay Dyeing marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Bombay Dyeing Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Bombay Dyeing Product Strategy:
The product strategy and mix in Bombay Dyeing marketing strategy can be explained as follows:
Bombay Dyeing is a well renowned textile and clothing brand in India having a huge customer base. The Bombay Dyeing textile (Home and You) segment, which is the retail business, consists of three broad categories in its marketing mix- bed, bath and coordinates with products such as bed linens, towels, bathrobes, bath mats, blankets, quilt& comforter, pillow, duvet covers etc. Bombay dyeing is an iconic brand which is known for its superior quality, unparalleled product range offering stylish classics to modern, trendy and youthful designs for a variety of consumers. The PSF segment caters to the business to business market with the fiber supplied to other venders for filling the pillows, mattresses etc. The products are designed in in-house studios with exclusive Bombay dyeing designers keeping the brand customer-centric. Also, the company is also planning to provide a service in the form of ‘experience centres’ across the country to showcase its products to potential customers using 30 existing company owned stores.
Image: company website
Bombay Dyeing Price/Pricing Strategy:
Below is the pricing strategy in Bombay Dyeing marketing strategy:
Bombay dyeing has always maintained its position in the affordable premium segment with current focus on the changing tastes of young consumers.
Thus, Bombay Dyeing uses a dual retail pricing strategy in its marketing mix to cater to the low end and high end of the market. It has products priced for value conscious consumers for whom the products start from Rs. 799 in bed linen category and Rs. 199 in the bath linen segment and for fashion led premium consumer preferences, who want high end fabrics and innovative designs, for whom the premium category would start from Rs. 7000. With competition from Chinese imports which had been eating into the domestic market, the effect of demonetization has been felt positively on the brand as it had pushed the costs of Chinese imports up, thus providing a level playing field for the domestic players.
Bombay Dyeing Place & Distribution Strategy:
Following is the distribution strategy in the Bombay Dyeing marketing mix:
Bombay Dyeing products reach its consumer majorly through retail outlets. Its geographical segments include India and Rest of the World. The company has 5 textile manufacturing facilities conforming to international standards from which products are supplied to various outlets. Even though the textile manufacturing is soon going to be outsourced, Bombay dyeing will keep the design studio in-house for its range of products in the various categories. The products reach its consumers directly through company owned stores and its E-commerce websites. Further, the company also reaches its consumers with the help on intermediaries through franchises, authorized retail sellers, multi-brand retailers and other ecommerce portals. The products are currently available in more than 5000 multi-brand outlets, 200 franchises and 600 exclusive stores. The Bombay Dyeing retail business makeover plan seeks to increase the existing multi-brand retail outlet to 10000 and franchise stores to 500 with approximately Rs.
50 lakhs expected to be spent on each of the franchise store setup.
Bombay Dyeing Promotion & Advertising Strategy:
The promotional and advertising strategy in the Bombay Dyeing marketing strategy is as follows:
Bombay Dyeing brand is 130+ years old and has been always lauded as a traditional brand synonymous with glamor and style. Currently the Bombay Dyeing brand is focusing on the young consumers for whom they are trying to position themselves as 'Young contemporary and ever-evolving' as it already has an aged loyal customer base. The brand is promoted through a mix of marketing channels which includes outdoor advertising, TV advertising, with a major focus on print ads in newspaper and magazines. Bombay Dyeing also sponsors many events including Gladrags Manhunt and Mega model contest. The promotion is also expected to happen for the targeted youth and millennials through the experience stores it plans to setup under the retail business makeover plan which would provide a first-hand experience of the products to the customers. Hence this concludes the marketing mix of Bombay Dyeing.
About Bombay Dyeing:
Bombay Dyeing & Manufacturing Corporation Limited is a publicly owned company, which is a part of the Wadia Group, founded in 1879 in India and primarily engaged in the business of textiles and is one of the largest textile producers in India. The company has been categorized into three segments Bombay realty (real estate activities, B2C), Home & You (Textiles, B2C), and PSF business (polyester staple fiber, B2B). The company had generated a revenue of Rs. 18.85 billion in 2016-17 of which the contribution from PSF was the highest at 65%, textiles were 18% and Bombay realty was 17%. As per recent news reports, Bombay dyeing has decided to exit the textile manufacturing and focus on re-branding, by investing Rs.
100 crores in the project, to bring the retail division more profitable. The manufacturing of the textiles would be outsourced.
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