Published by MBA Skool Team, Last Updated: October 28, 2018
Marketing Strategy of Whirlpool 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 Whirlpool marketing mix, help the brand succeed.
Whirlpool marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Whirlpool Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Whirlpool Product Strategy:
The product strategy and mix in Whirlpool marketing strategy can be explained as follows:
Whirlpool is one of the leading consumer electronics companies having a strong presence in globally. The company has huge product line across global but specifically, Whirlpool has the different product line. Whirlpool serves variety in its product line which cuts across various products & services. Following is it marketing mix product portfolio and the segments it caters too:
• Air conditioners
• Purification Segment
In refrigeration segment, Whirlpool offers the variety of refrigerators for home and commercial use as well. From washing machines to kitchen appliances like the grinder, the company caters to all need of Indian households. The company has product portfolio in air condition and air and water purification segment as well. The company has strategised products in India considering Indian need like impure water was the major issue, low-cost washing machines and refrigerators consuming low electricity was the main issue where whirlpool has focused.
Whirlpool Price/Pricing Strategy:
Below is the pricing strategy in Whirlpool marketing strategy:
Whirlpool mostly follows a competitive pricing as a part of its marketing mix strategy.
Mostly consumers are highly priced sensitive. The company has the competitive pricing strategy. Here the prices are compared the market availability of the same products from different brands. Whirlpool is the market leader in tough competition from Godrej and Samsung as well. The company has a strong capital share and its markets share of refrigeration is increasing with increase in its technological functions. Air purifier segment which is new in its own kind, the Whirlpool is highly working over this technology to make air purifiers more affordable in the Indian market. Also after sales services is another factor in the company strategy to earn income. The company has service centres in all most all tire 1 and tier 2 cities.Henceforth managing to gain more income from services and spare parts as well.
Following is the distribution strategy in the Whirlpool marketing mix:
Whirlpool has the presence worldwide for its exclusive stores, distributer and retailers. In India, Whirlpool has reached to rarest Indian market grabbing smallest customer. The company has various platforms for its product selling. They have collaborated with some government institution to provide air conditioning, private organizations, companies, food outlets and much more which is apart from direct selling. Whirlpool has the good presence on the e-commerce platform. Initially, home appliances were rarely sold on e-commerce but with time the company has built the strong presence on the online platform.
From customer satisfaction to the strong distribution network, Whirlpool has always shown more compatibility.
Whirlpool Promotion & Advertising Strategy:
The promotional and advertising strategy in the Whirlpool marketing strategy is as follows:
Whirlpool uses a complete 360 degree communication in ensuring good communication of its products. Being home appliances brand, Whirlpool has always tried to reach the maximum audience for its product advertisement. The company has shown maximum interest in television advertisement compared to the media. As more of Television is broadcasted in households only. The company has organised many marketing and public relation events like sponsoring for cooking shows. Nowadays the company is more into the small home appliance like electric induction, electric cattle which is highly useful for modern households. Whirlpool has invested hugely in social media marketing as it directly connects a company to the targeted audiences. The company has also been in environmental cause showing an air purifier product. This is emotional marketing company is doing to get attached to its customers. Hence this concludes the Whirlpool marketing mix strategy.
Whirlpool is is a global home appliances manufactures present across worldwide. The American multinational manufacturer Whirlpool Corporation is a marketer has headquarters in the US only. The US has been its traditional market few years before but with globalization, the company found more profit in other parts of the world. Whirlpool India, whose head office situated in Mumbai, produces Indian requirement of households. As whirlpool is Fortune 500 Company and it has annual revenue of approximately $21 billion with more than 100,000 employees with more than 70 manufacturing and technology research centres around the world.
Whirlpool Corporation is the world's largest home appliance maker and as well they are market leaders. Their website also owns some of the brands named Hotpoint, Diqua, Affresh, Across, and Yummly brands.
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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