Marketing strategies of Godrej
Marketing is defined by American Marketing Association [AMA] as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”
Broadly “marketing is a social and managerial process by which individuals and organizations obtain what they want through creating and exchanging value with others.”
Marketing has always been one of the most important and decisive tool in determining the sales and success of a particular company. Marketing does not only include advertising and publicizing about a particular product or service, but also means keeping up with the changing trends in the market and customer tastes and preferences. Thus, it includes the 4 P’s of marketing namely PRODUCT, PRICING, PROMOTION and PLACE (DISTRIBUTION).
This project is based on the marketing strategies adopted by Godrej Company with reference to Godrej Interio & Godrej Consumer Products Ltd (GCPL). Godrej Interio is the largest company in the Rs 3000 crore organized furniture market. It has been upgrading its products to match the consumer’s tastes and preferences. GCPL became the first company in the world to develop the technology to manufacture soap with vegetable oils; that spirit of innovation has continued throughout the organization's history. Today Godrej is delivering consumers exciting innovations across a spectrum of businesses.
Objectives and scope
a) To study the marketing strategies of Godrej Interio & Godrej Consumer Products Ltd.
b) To study the expansion of Godrej group by adopting the diversification strategy.
c) To study the 4 P’s of marketing in relation to the steps taken by Godrej.
▪ Product: new product lines introduced and diversification of products.
▪ Price: kind of pricing adopted and comparison with other manufacturers.... [continues]
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