Croma Marketing Strategy & Marketing Mix (4Ps) is unique in itself

 

Marketing Strategy of Croma 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 Croma marketing mix, help the brand succeed in the market.

Croma marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.

Let us start the Croma Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:

Croma Product Strategy:

The product strategy and mix in Croma marketing strategy can be explained as follows:

Croma, a brand of Tata group, is a leading retail brand specializing in consumer electronics & accessories. Croma offers around 6000 multi-brand products across many categories. Croma also has many more products in its marketing mix and some of them are as follows -

• Communication - Mobile Phones, cordless, Power Banks, accessories, Memory Cards etc
• Computing – Laptops, Tablets & iPads, personal computers, speakers, Network Components, Computer Storage, Computer Software, Printers, Tablet and iPad Accessories, Computer Accessories, Office Solutions2 in 1
• Entertainment – Televisions, Home Theatre and Audio Systems, Headphones and Earphones, audio systems and iPods, game consoles, DVD Players, Value Cards, Cables and Connectors, Accessories
• Hygiene - Washing Machines and Dryers, Air Purifier and Dehumidifier, Health Care, Water Purifiers and Dispensers, Dishwashers, Vacuum Cleaners, Garment Care
• Photography – Cameras, Filters and Lens, Digital Photo frames, Memory Cards, Camera Accessories, Binoculars, Educational Kit
• Cooking - Food Processor, Microwaves and Ovens, Stoves and Cooktops, New Age Cooking, Coffee & Tea Makers, Toasters & Sandwich Makers, Steamers & Cookers, Vegetable & Fruit Purifiers, Utensils
• Comfort - Air Conditioners, Refrigerators, Fans, Lighting Products, Electrical Appliances, Safety And Security, Irons, Geyser, Room Heaters, Cooler
• Grooming and Wellness - Hair Care, Female Grooming, Male Grooming, Connected Fitness, Lifestyle, Massagers

These just give an overview from the wide portfolio of consumer goods available at Croma retail.

Croma Price/Pricing Strategy:

Below is the pricing strategy in Croma marketing strategy:

Croma follows promotional pricing strategies and offers discounts like 10% to 15% even on premium products.

This helps in increasing the footfall as well as increased sales during festivals. The trust of TATA group provides customers to be confident about the quality of the products as well as competitive prices. Croma provides attractive discounts for bulk buyers which leads to greater revenue. One of its biggest competitors is Reliance Digital but the customer service and in store experience of Croma helps to differentiate itself even though pricing wise they are pretty close to each other.

Croma Place & Distribution Strategy:

Following is the distribution strategy in the Croma marketing mix:

There are more than hundred Croma stores across various cities throughout India. One can easily find a Croma store in most of the big malls. They sell directly to the customers through their stores but one can also order online through their website. The first store was opened in Juhu in Mumbai.

There stores located in Mumbai, NCR, Chennai, Bengaluru, Hyderabad, Ahmedabad, Surat, Rajkot, Aurangabad, Vadodora.

Croma Promotion & Advertising Strategy:

The promotional and advertising strategy in the Croma marketing strategy is as follows:

Croma follow ATL strategies like newspaper and radio advertisements. Now they have started social marketing with Facebook and google ads. They try to portray the brand trust of TATAs and provide excellent customer support. They have Authorised Croma Care Center to provide after sales support to all products purchased at Croma during any time of the day. The ads of Croma generally focus on the value for money aspect of the products. They provide quality products at a discounted price which appeals to the middle class population. They sometimes do in store promotions like “Croma Loves You” campaign where the store employees start dancing to the tunes of the song and explain the benefits of shopping with Croma retail. It’s fun and entertaining while at the same time the catchy tune attracts attention and promotes store products.

Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Croma.

People:

Infinity retail runs Croma which is owned by the TATA group. The store provides special discount to the TATA group employees. The sales people at Croma are very friendly and help the customers in zeroing in on a product that best satisfies their needs. The brand is associated with TATAs and as a result customers trust them. They pride themselves on providing excellent customer service.

Process:

Croma sell their products through online website where they provide promotional discounts and also through about 100 odd stores throughout India. They have a customer focused approach and have a 24-hour call centre support.

Physical Evidence:

Croma has large stores in most malls clearly displaying the Croma brand on the top. There are large glass displays showcasing variety of electronic products and customers can come in and try the display units. They also have smaller stores called zip stores at airports etc with a different layout so that they could target specific travelling customers. They also have their own label called Croma Life accessories which provides some unique and essential products. Hence this gives an overview of the Croma marketing mix.

About Croma:

Croma is an Indian retail chain that sells consumer electronics. It belongs to the TATA group. It was started in Mumbai in 2006. It is run by Infiniti Retail Ltd.

It has recently started online retailing through their website. They provide deals and offers to attract the customers and focus.