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Marketing Plan for Crompton Greaves

Term Paper Number
898600150
Term Paper Description
Marketing Plan for Crompton Greaves
Publish Year
2009
Number Of Pages
40
Number Of Words
4406
Price
150 $ (USD)
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Paper Abstract

Crompton greaves

                

Executive Summary

The purpose of this marketing plan was to establish Crompton & Greaves in South Africa with the help of thorough analysis of all the segments, by determining the buyer behaviour and the potential target market.

   With an impressive global footprint Crompton Greaves is part of the US $3 billion Avantha Group. The company has a head quarter in Mumbai, India. Crompton Greaves is India's largest private sector enterprise in the business of electrical engineering with a turnover in excess of Rs.1700 crores. The Consumer Products Business Group is engaged in the business of Fans, Light Sources, water heaters, Luminaries and Pumps.  South Africa is a potential market where in Crompton can establish itself successfully.

Market segmentation will help Crompton to know the group of customers who share a similar set of needs and wants. Its Four main regions of commerce are Western Cape (Cape Town), Eastern Cape(Port Elizabeth and East London), KwaZulu-Natal (Durban and Pietermaritzburg) and Gauteng (Pretoria, the Witwatersrand, i.e. Johannesburg and the areas to the east and west of it, and Vereeniging). The population growth rate for South Africa is -0.501% (2008 est.) (World growth rate at 2006 is 1.14%). The country also saw migration of -0.08 migrant(s)/1,000 populations. The median age of the country is total: 24.5 years male: 23.8 years female: 25.3 years (2008 est.).  South Africans are fun-loving and laid back. People choose between a number of massive shopping malls complete with cinema complexes, excellent restaurants, delightful theme parks and a wonderful variety of natural and historical attractions.

  Crompton can sell its room heaters as well as water heaters in the winter.  Further in occasions like Christmas it can sell its colourful decorative bulbs.

Crompton will offer its most innovative and premium products to the higher income people while it may offer its standard products to middle income group. Crompton can effectively market its product when it understands the buying decision making process.

The primary target market of Crompton would be the middle income and higher income people in the four main regions of commerce which are Western Cape (Cape Town), Eastern Cape (Port Elizabeth and East London), KwaZulu-Natal (Durban and Pietermaritzburg) and Gauteng (Pretoria, the Witwatersrand, i.e. Johannesburg and the areas to the east and west of it, and Vereeniging). The secondary market of Crompton would be the high income industrial sector in these four main regions.  Operating within these four regions of commerce Crompton will be able to serve a huge customer base . Crompton will use positioning as their communication tool. Crompton can reach the target customers easily only when their brand name reaches the target customers mind. Since Crompton is new in South Africa it will invest more in marketing so that it can create memorable brand image with the help of effective product positioning.

Crompton will attempt to generate a positive response in the target market by blending these four marketing mix variables and it will continuously strive for customer satisfaction and delight. Crompton has divided its products into consumer goods and industrial goods. Crompton will initially focus on maximizing their market share. This can be done by charging a low price to the market this is also known as market penetration pricing. Since people will evaluate Crompton products & will decide to buy it before they go to a store therefore the pull strategy is appropriate for this company. Crompton will sell its product through one level channel containing one retailer or through a two level channel which will contain two intermediaries.

Crompton’s advertising content will emphasise on the creation of a memorable brand image in South Africa with the help of effective product positioning. It will advertise through two main sources radio and television.

Crompton will enter the South African market with another leading appliance company called Defy which is a 60 years old company. With this entry it aims to sell 1400 non decorative models and 1000 decorative models starting from April 1st 2009.

Table of contents                                  

Topics                                                                       Page No.

1.     Introduction                                                                                              7

2.     Market Segmentation                                                                             8

2.1 Geographic segmentation                                                                8

2.2 Demographic segmentation                                                             9

2.3 Psychographic segmentation                                                         11

2.4 Behavioural segmentation                                                             13

      3.   Buying decision process                                                                        14

      4.   Target market                                                                                          17

      5.   Product positioning                                                                                19

      6.   Marketing objectives                                                                             21

      7.   Marketing strategies                                                                              21

            7.1 Product mix                                                                                        22

            7.2 Price mix                                                                                             26

            7.3 Place mix                                                                                             27

            7.4 Promotion mix                                                                                   29

       8.  Entry mode                                                                                                32

       9.   Implementation plan                                                                              33

      10. Measurement tools                                                                                 34

1. Introduction: (Business definition and scope)

   With an impressive global footprint Crompton Greaves is part of the US $3 billion Avantha Group. Crompton greaves mainly deals with electricity products. In the year 1947 the company was taken over by Lala Karamchand Thapar, an eminent Indian industrialist. Crompton Greaves is India's largest private sector enterprise in the business of electrical engineering with a turnover in excess of Rs.1700 crores. The Consumer Products Business Group is engaged in the business of Fans, Light Sources, water heaters, Luminaires and Pumps.  Today, Crompton Greaves is India's largest private sector enterprise (Crompton & greaves. n.d).

   Keeping in view the funds available & its internal capabilities Crompton can expand its company to a new country. Crompton has already expanded to many countries like America, Indonesia, Belgium & china covering most of the continents. Yet there are many untapped markets with good prospects where Crompton can establish itself. South Africa is one such market where in Crompton can establish itself successfully.

                                                                                                          



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