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Introduction To Reliance Industries Case Study

Reliance Industries Limited or RIL is a global conglomerate organization of Indian origin that has its headquarters in Mumbai. The diverse businesses that are operated by the organization include petrochemicals, energy, retail, telecommunications, natural gas, textiles and mass media. Reliance has been able to become one of the highest profitable companies within India and it is also a large publicly traded company within India based on the overall market capitalisation and revenues that are gained by its business operations. The company has also been provided with the 100th rank on Fortune Global 500 companies’ list among the biggest companies of the world.

Introduction To Reliance Industries Case Study

Vision and Mission Statement of Reliance Industries

The vision statement of Reliance Industries states that “We are totally dedicated to building a reputation as the most professional and highly valued circuit board supplier to our customer base as an industry partner.” The mission statement of Reliance Industries states that “We will continue to invest in our people, the most up-to-date processes and enhance our production capabilities to add real value for our customers. We will never compromise environmental protection and we strive to provide a genuine one-stop service for our customers with a focus on continual cost reduction and improvement.”

Vision and Mission Statement of Reliance Industries

Reliance Industries Situation Analysis

 The situational analysis of Reliance Industries is mainly based on the strategies being implemented by the organization based on changes taking place in the internal and external environment. The PESTLE framework provides details regarding the macro environment factors and SWOT framework is used for analysing changes taking place within the internal environment that are mainly related to the internal strengths and weaknesses and the external opportunities and threats as well. The detailed situational analysis of Reliance Industries will be able to play an important role in ensuring that the organization can develop effective strategies for future implementation.

Industry Structure and economic feature

 Reliance Industries is a conglomerate organization that has its operations in various industries that include retail, petrochemicals, energy, telecommunications, textiles, mass media and natural gas. The various industries within which Reliance Industries has its operations based on different business units are able to provide major levels of competition to the company. The competitors who are a part of different sectors also aim at providing similar products and services to the customers like the products that are offered by Reliance Industries. The changes taking place in all the industries can also have an impact on the overall profitability levels being gained by a conglomerate organization like Reliance Industries. The economic condition that has been formed in various countries is mainly based on different sectors or industries. Reliance Industries can thereby provide major levels of contribution towards improvement of the overall economy.

Reliance Strategic

i) Business Level Strategies

The business strategy that has been implemented by Reliance Industries is related to driving the levels of growth, innovation, value and transformation within the society. The organization aims at pursuing the strategy related to growth by leveraging the existing know-hows and assets and the investments that are made in the opportunities that are a part of the strategies being implemented by the businesses. The major focus of Reliance Industries is related to the activities being performed by the organization and the investments that are made within the domestic market of India. The domestic market of the company is considered to be quite large and the organization has been successful in gaining a leadership position in various sectors. The businesses of Reliance create value for the employees, shareholders, society and customers and the new opportunities are effectively pursued by the organization.  

ii) Corporate Level Strategies

The differentiation strategy of Reliance Industries is considered to be a major aspect of the corporate level strategy implemented by the organization. The organization has positioned itself based on the product offerings in the ways by which the company aims at standing out and can be different from the competitors in various sectors or industries. The brand is considered to be highly experienced in different sectors that have helped in development of the strong foothold. The differentiation tool is mainly used by Reliance Industries for providing pressure on the other brands.

Competitive Analysis and Advantage in the industry

The competitors of Reliance Industries in the oil and energy industry include ONGC, Petronet LNG, Oil India, HOEC, Deep Ind, Jindal Drilling, Selan Explore, Deep Energy Res, Aban Offshore, Asian Energy, Nagarjuna Oil and Dolphin Offshore. Huge levels of competition are provided to Reliance Industries in the telecommunication sector include Vodafone Idea and Airtel. The levels of competition faced by Reliance Industries in both the sectors are able to influence the revenues and the overall profit margins that are gained in the sectors. The advantage that has been gained by Reliance Industries is based on the investments made in research and development activities.

SWOT Analysis

i) Strengths

   Reliance Industries has a leading position in the market and the company has gained a huge share within the Indian market. The organization has developed a position as biggest petroleum company within India that has the business outlets in the rural areas. The company has many subsidiaries and associates for funding provided to this sector. The business network of Reliance within India and in various other continents is a major strength of the organization.

ii) Weaknesses

The split of Reliance Industries after death of the founder was considered to be a major weakness being faced by the organization. The splitting had a major negative influence on the business operations of Reliance and the overall revenues that have been gained in the industry. Reliance is highly dependent on the Indian market for the overall revenues gained within various sectors which is also a weakness of the company. The company was not highly successful in developing the international market which is considered to be an effective opportunity of increasing the assets.

iii) Opportunities

Reliance Industries has a huge opportunity of expanding its business operations in different countries and to spread the businesses effectively as well. The products that are a part of the portfolio of Reliance Industries and the business units of various sectors provide major growth opportunities to the organization. Products offered by Reliance also have the ability of increasing their demands in the future.

iv) Threats

 The existing competitors who are a part of the market are considered to be major threats being faced by Reliance Industries. Economic depression in the world that occurred in the world within the last few years have provided a threat to the current and future operations of the organization.

PESTLE Analysis

Political factors – The multiple sectors within which Reliance Industries operates has provided importance to the supply chain of the organization and raw materials required for production. The political unrest in different companies can affect the operations and revenues of the company. Government laws based on taxation, intellectual property and contracts are able to influence the strategies of Reliance Industries.  

Economic factors – Economic aspects can affect the operations and decisions made by Reliance Industries and the countries that offer high rates of interest can attract the firm for making investments. The major influence of interest rates has an impact on the financial resources of Reliance and the loans that are taken by the organization based on high quality products that are offered to the customers.

Social factors – The increasing spending power of the consumers and high variety of the products can have an impact on the revenues and profit margins of Reliance Industries. Social factors that are mainly based on the cultural aspects and norms can influence the types of products that can be offered by Reliance Industries.

Technological factors – The ever-changing technologies have led to an increase in the investments being made by Reliance Industries in enhancement of its operations. Social media marketing is considered to be a major aspect that is based on the technological advancements that have taken place in the insurance industry.

Environmental factors – Reduction of the carbon emissions have added to the depletion of ozone layer and this is considered to be a major environment aspect influencing operations of Reliance Industries. The growth in concern related to global changes in climate and increase in levels of pollution are considered to be major environmental aspects that influence the strategies of the company.

Legal factors – The aspects like minimum wages have to be based on the legal framework and regulations being implemented by Reliance Industries. The laws related to anti-discrimination and human resources influence the strategies of Reliance Industries.

Target Market Analysis of Reliance Industries

i) Demographic Characteristics of Market

 The various demographic characteristics that are a part of the target customers of Reliance Industries include the age, income levels, gender, geographic location and education levels.

ii) Demographic Characteristics of Market

The various demographic characteristics that are a part of the target customers of Reliance Industries include the age, income levels, gender, geographic location and education levels.

iii) Psychological Characteristics of the Market   

The factors that depict the psychological characteristics of the target customers include personality, lifestyle, social class, interests, behaviours and habits.

iv) Behaviours of the Target Market

 The behavioural aspects that are related to the segmentation of target customers are based on the types of the products that are consumed by them.

v) Strategies Appealing to Market

 The growth strategies that have been implemented by Reliance Industries in various sectors are able to influence the position that the organization has developed in comparison to the competitors. The strategies of Reliance Industries have appealed to the market and have been helpful in attracting the customers.

Marketing Mix of Reliance Industries

i) Product Strategy (Product Mix)

 Reliance Industries is a major conglomerate within India that offers various types of products to the customers in different sectors. The retail products of Reliance Industries are offered to customers through Reliance Fresh, Reliance Mart, Reliance Market, Reliance iStore, Reliance Home Kitchen. The broadband services of Reliance are provided by Reliance Jio Info COMM Ltd.  

ii) Pricing Strategy

 The pricing strategy of Reliance Industries is considered to be quite diverse and is based on the levels of competition and the leadership that the organization has developed in different sectors. The losses that have been faced by telecommunication and retail sectors have been reduced by increasing the number customers and providing the services and products at lower prices. The competitiveness within the market is considered to be a major factor that has influence the strategies being used by Reliance Industries.

iii) Promotional/ Advertising Plan 

 Reliance Industries makes huge levels of investments towards the activities like brand promotion and advertising. Promotional strategy within marketing mix of the organization is mainly focussed towards the aggressive promotion of its brand and understanding sentiments and needs of the customers. The discounts are provided to customers as a part of the promotional strategies of Reliance Industries and the organization has been able to strong levels of brand awareness.

Reliance Competitive Analysis

i) 4Ps’ comparisons with competitors

 The competitors of Reliance can be compared with its products and services based on the marketing mix.

ii) Product –

Similar products offered by competitors.

iii) Price –

Prices of products of competitors are affordable.

iv) Place –

Distribution strategies of the competitors are real.

v) Promotion –

Promotional strategies of competitors are efficient.

vi) Strengths’ comparisons with competitors

Research and development are done by competitors.

vii) Weaknesses’ comparison with competitors

Lawsuits are not always faced by other companies.

viii) Organization’s Competitive Advantage

 The competitive advantage of Reliance Industries is based on the diverse portfolio of services and products offered to customers.

Key success factors

 The large customer base of Reliance Industries is considered to be a major success factor of the company.

Problems and Issues in Reliance Organization

 Overdependence of Reliance on the Indian market is a major problem being faced by Reliance.

Financial Analysis

The revenues of Reliance Industries was 6.97 lakh crores INR.

Conclusion

The analysis can be concluded by stating the success of Reliance Industries is mainly based on the promotional strategies implemented by the organizations and variety of products offered to customers. 

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