Power Grid Corporation of India Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of Power Grid Corporation of India analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Power Grid Corporation of India marketing mix, help the brand succeed in the market. Let us start the Power Grid Corporation of India Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
Power Grid Corporation of India Product Strategy:
The product strategy and mix in Power Grid Corporation of India marketing strategy can be explained as follows:
Power Grid Corporation is a leading Indian electricity transmission and distribution company. The product offering in its marketing mix is divided on its business divide which is broadly divided into consulting for domestic business, management of various electrical power systems, telecommunication services, overseas consulting and smart grid services. The management of division looks into transmission and distribution of electric power in across the state and through various regions of the country. Power Grid Corporation currently has 214 substations which carry 1,34,018 circuit kilometres. This division is also responsible for operation and maintenance of transmission lines as well as achieve high standards and availability for continuous power supply.
The telecommunication division of Power Grid Corporation is the infrastructure provider for national long distance operators.
It also provides Optic fibre network and management of grids. It has a Broadband Telecom network of 39,000+ Kilometres. It has an overseas consulting it provides consultancy for implementation of transmission, distribution, rural electrification, grid management and many other functions.
Power Grid Corporation also provides domestic consulting in transmission, distribution and many other functions to government & private utility companies, public sector organizations and state-owned bodies. The smart grid division provides total coverage of distributions from the transmission centres to delivery centres minimizing losses.
Image: company website
Power Grid Corporation of India Price/Pricing Strategy:
Below is the pricing strategy in Power Grid Corporation of India marketing strategy:
The power sector and especially for corporations like Power Grid Corporation the investment costs are very high in the infrastructure and since they have very less competitors and government monitors these kinds of business, the power rates are set as per standards. The demand and supply of power is also a determining factor for power rates and hence the distribution companies keep the charges accordingly.
In some areas due to lower economic level the government subsidizes the rates and hence the government will be responsible for filling up the gap of subsidy. The transmission business is also regulated by the government with cap on the rates. This gives an insight in the pricing strategy of Power Grid Corporation.
Power Grid Corporation of India Place & Distribution Strategy:
Following is the distribution strategy in the Power Grid Corporation of India marketing mix:
Power Grid Corporation has a vast 1,34,018 ckt kilometres of transmission lines with 214 sub-stations across the country with presence in almost all the states. Power Grid Corporation also operates broadband telecom network of 39,662 kilometres with 595 locations across the country and wide intra city network in almost 105 cities. The company also connects various centres of excellence such as IITs, IISc etc. and other institutes with its high speed links of 10 Gbps, 1 Gbps/100 Mbps as well as 100 Mbps/1 Gbps. Power Grid Corporation also has taken part in the rural electrification in which it is going to provide electricity to 70 districts in 9 states.
It has also got global presence in 28 countries wherein it provides consultancy for infrastructure development for power and various feasibility studies for execution of projects.
Power Grid Corporation of India Promotion & Advertising Strategy:
The promotional and advertising strategy in the Power Grid Corporation of India marketing strategy is as follows:
The promotions of Power Grid Corporation are mostly restricted to print media in various newspapers and on its official website since this is a very specialized business and does not require so much publicity to attract its customers as its reputation and vast non failing infrastructure speaks for itself. Since it is in a business which deals with a vital resource of the country the quality of developments itself features in various business newspapers which attract the business customers for the big projects they will be involving Power Grid Corporation in. The company also regularly participates in many government initiatives and certifies itself with various ratings. Power Grid Corporation also takes part in various CSR activities which relates to rural development, skill development, health and education which helps in development of the community.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Power Grid Corporation.
People:
The employee base of Power Grid Corporation is more than 10,000 which consists of people in management as well as engineering domain employees as well as the contractual employees which changes with the projects. The candidates are selected on the basis of rigorous all India tests and interviews. The Power Grid Corporation employees are regularly imparted trainings in the areas of their specialisation for the challenges and the methods to overcome such challenges. The human resource department plans strategies based on the training needs and organizational need. The organizational structure is very hierarchical and very detailed and divided on the basis of projects since the project sizes are huge. The company looks after its employees’ welfare and provides environment for all round development and many other stipulated benefits as pert the government policies.
Process:
Power Grid Corporation has undergone through ERP implementation which support the business by supporting functions like tendering and also development of disaster recovery systems. The company has also set up many technology centres to carry out research and development in its projects to provide new innovative solutions as well as improve energy efficiency and other advanced diagnostics. The customer get access to the services by the way of bidding process and requirements specification. Power Grid Corporation then organizes feasibility test, assesses the impact. Then the design of the project is done and it is followed up with supervision of the project as well as providing maintenance for the operational phase.
Physical Evidence:
The power sector clients gets various reports in various phases of the projects which include feasibility, design and overall structure, various quality tests, assessment of vendors and other financial analysis. It also provides agreement for vendors, contracts and other bid discussions and other bid documents. The technical analysis then lead to optimal solution and preparing of detailed project reports. The projects after being assessed are then scheduled for implementation for which also reports are prepared. The equipments to be used are then evaluated also during the maintenance phase for residual life and replacement. The owners are also provided with commissioning reports, economic and legal assessment reports. Hence, this gives an insight in the marketing mix of Power Grid Corporation.
About Power Grid Corporation of India:
Power Grid Corporation of India is a public centre enterprise which is responsible for electric power transmission and distribution in India. It is a Navaratna public sector company which is the largest power transmission utility company in India. It was established in 1989 with the name of National Power Transmission Corporation Limited. Power Grid Corporation is a listed company with 57.9% of holding by Government. It has eleven subsidiaries out of which Power Systems Corporation Limited is responsible for the nation’s electrical power grid management and Grid Conductors Limited which produces aluminium and aluminium alloy conductors. Power Grid Corporation generated revenue of Rs.21,000+ crores and net income of Rs.6,027 crores.
The company is currently being headed by I.S. Jha who is the Chairman and MD of the company.
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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