Reliance Power Marketing Strategy & Marketing Mix (4Ps)
Published in Services category by MBA Skool Team
Marketing Strategy of Reliance Power analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Reliance Power marketing mix, help the brand succeed in the market. Let us start the Reliance Power Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Reliance Power marketing strategy can be explained as follows:
Reliance Power is one of the leading power generation companies in India. Reliance Power has covered almost the entire nation with its services and products. It majorly deals in offering like electrical power and natural gas in its marketing mix. Reliance Power provides various service like electricity generation and distribution, natural gas production along with transportation and distribution.
It has various ultra mega power projects in places like Madhya Pradesh, Andhra Pradesh etc. Reliance Power is India’s leading Private sector Utility company. It has power generation projects related to various gas, wind, power, coal and hydro based.
Image: company website
Reliance Power Price/Pricing Strategy:
Below is the pricing strategy in Reliance Power marketing strategy:
Reliance power has always tried to adapt to factors that would lead to cost reduction. Reliance Power enjoys a dominant position in the market, which influences its pricing and is not only dependent of competitors in its marketing mix.
It is committed to ensure the power generation in lowest cost and sustainable manner. Reliance Power follows competitive pricing with the onus of use of eco-friendly and innovative technology. It aims at reducing the cost of generation of power so that power is made available at economic prices to the country through greener technologies. Fuel is the most important factor in power generation and reliance has efficient captive mines for the same. Reliance Power have a dedicated team of distinguished individuals for all the pricing policies and comes after deep evaluation. This allows economies of scale for Reliance Power.
Following is the distribution strategy in the Reliance Power marketing mix:
Reliance Power is spread almost all over India basically in northern, western, northern-eastern and southern region of the country. It has a very strong network built for distribution. The various projects are located in various locations. Reliance Power has six coal fired projects, two gas-fired projects and four hydroelectricity projects. The distribution is majorly controlled by BSES Delhi which has two points: BSES Rajdhaniand BSES Yamuna, and Reliance Power Mumbai. The gas fired projects are in Samalkot and Dadri.
Reliance Power focus in maintaining the plants in the diverse location to ease the reach to customers.
Reliance Power Promotion & Advertising Strategy:
The promotional and advertising strategy in the Reliance Power marketing strategy is as follows:
Promotion has always been the most important determinant for sales of Reliance power. It has always made use of latest promotional activities and has been on the top in terms of advertising. Their promotional campaigns are eco friendly, trendy and include celebrity endorsements. Reliance Power uses less of advertising for power sector and focussed more on cost reduction. Customer loyalty is high even with moderate use of advertising because of the brand image. Many bill boards are seen showing the latest offerings by Reliance power.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Reliance Power.
Reliance Power has two ultra mega power projects in Krishnapatnam, Andhra Pradesh and in Singrauli district, Madhya Pradesh. Other than this it has wind power, solar power and hydropower projects. They have sites roughly located in western India (12220 MW),northern India (9000MW), north eastern India (4220 MW) and southern India (4000 MW). Also the corporate and regional offices of Reliance Power are a part of its physical evidence.
Reliance power has a work culture amongst its employees such that it encourages individual development as well as brings out the best of them for the company. Policies framed for the employees are aimed at achieving strategic business activities. Being hazardous work environments due to power generation projects, health of employees is at the core of the Reliance Power company. Various career development and learning opportunities are provided for the families of employees. Excellent work life balance is maintained through leave policies and recreational activities for employees. Around 5000 employees work currently in Reliance Power with the key person being Anil Ambani.
Reliance Power has several processes to ease the business. The power generation process covers a long distance from fuel sourcing to distribution and end use by customers. Initially fuel like coal, naptha is provided as raw material to the electricity generation plant where it used to rotate the turbine and generate electricity. Now the next stage is transmission of power through grid like central transmission utilities and state transmission utilities. Then it is sent for distribution through state electricity boards, private distribution utilities. Finally it reaches to ultimate consumer like agriculture, households, industrial, retail consumers. Hence, all this covers the Reliance Power marketing mix.
About Reliance Power:
Reliance Power, a part of the reliance group owned by Anil Dhirubhai Ambani is the leading power supplier in the country. This company was formed in 1995 as Bawana Power Private Limited and laer changed to its name to Reliance Power ltd. In 2007. It has its head office in Navi Mumbai.
Reliance power was set up to develop and operate power projects in India and Foreign market. The Reliance Power company mainly distributes power in the suburb area of Mumbai and also has power generation and transmission business in other parts of Maharashtra, Goa and Andhra Pradesh.
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