Wipro is a leading Indian conglomerate that offers IT and business process services worldwide. It has been ranked in the top 100 technology-based companies in the globe. It has over 209,890 employees working under it as of 2021. Thus this makes us keen to know the business model of Wipro.
In this blog, we will be discussing step by step the business model of Wipro which includes its product segmentation, market share, key partners, pricing policies, target audience, etc.
But before we start with its business model let us know about Wipro as a company.
About Wipro – Company Profile
It was founded in 1945 by Mohamed Premji. Its headquarters is located in Bangalore, India. Wipro company uses robotics technology, hyper-automation, cloud services, data analytics and brings out emerging technologies to offer their customers an advanced technological involvement.
In 2020, Wipro came up with a strategic plan on building a better tomorrow while driving towards accelerated growth. Wipro’s vision is to boost up leadership globally, drive innovative solutions for its consumers.
Wipro business segments are scattered in various areas which means its services are not limited to one business sector. For example; banking, transportation and logistics sector, healthcare and life sciences, digital insurance, media and entertainment services, new-generation services, etc. can be mentioned.
Out of the number of services provided by Wipro are Digital services that hold a special attraction. Its digital operations and platforms provide next-level high technology to global corporations. For example, Wipro helps in digitalizing HR operations so that it would be easy for the workforce to continue their daily HR operations while transforming their business into a digital phase.
Let’s now start with the in-depth business model of Wipro.
Business Model of Wipro
The business model help’s to determine a company’s plan for generating revenue. It determines the products or services the business plans to sell, its identified target market, and any anticipated expenses.
Wipro uses a mass-market business model in which it targets all different types of customers whether it’s a high-end company or a small business.
Let us now see the sequence-wise business model of Wipro.
Product Segmentation of Wipro
Wipro products provide its customers to access the undiscovered capability of computerization, and influence it to drive change quicker and at a lower cost. Wipro product offerings are result-based models and are intended to speed up change for organizations by diminishing the opportunity to esteem and the expense of activities.
Types of service-based Wipro products
Artificial Intelligence Automation
Power-driven by AI technology to solve IT and business-related issues.
Eg; Wipro Base, Wipro Holmes, Wipro Harmony
To ensure business resilience, secure information, and manage risks,
Eg; Wipro cyber defense platform
Speed up cloud adoption with vibrant cloud environments.
Using crowdsourcing can be used to deliver multi-skill projects efficiently.
Modernize your work environment with Wipro
Eg; Wipro Virtuadesk – you can make a hybrid office and make work from home a reality.
Let us now see the market share of Wipro.
A company’s market share can be explained as the portion of total sales of that industry that conducts its operations. Wipro company shows a sales turnover of 50,299 INR crore as of 2021 and the total sales income for 2021 is 52,647 INR crore which is relatably a higher market share.
Let us now see the key partners of Wipro.
Key Partners of Wipro
Wipro partners with different other tech companies to create new solutions and markets. Some of their partners are Adobe, EMC, Cisco, Hewlett-Packard Enterprise, Microsoft. IBM, etc.
Its Wipro ventures maintain investments in leading-edge startups in areas like big data, artificial intelligence, open-source, cybersecurity, and IoT.
Wipro also has partners in academic institutions in different locations like the United States, India, Europe, and Israel in the fields of electrical and computer engineering. Their main purpose in collaborating with them is to carry out collaborative research on future technologies.
Let us now see the pricing policy of Wipro.
Pricing Policy of Wipro
Wipro provides its products and services in diversified areas. It caters to many enterprises to provide IT service and business solutions both domestic and international. Moreover, the company has positioned itself as one of the best and high quality IT services providers.
Therefore, Wipro company has focused on selecting a competitive pricing strategy as its pricing policy which means Wipro is offering its products and services for a relatively lower price than its competitor prices. This in turn helps Wipro to stand out in the IT services market.
Let us now see the marketing strategies of Wipro.
Marketing strategies of Wipro
To compete with other competitors, Wipro engages in high marketing and promotional activities. The main mode of marketing is done through TV advertisements. Often, banners and billboards are placed in advantageous locations to capture attention.
Moreover, Wipro engages in numerous corporate social responsibility projects to build a high reputation and establish a footprint in the industry.
Furthermore, Wipro advertises heavily on social media platforms such as Facebook, Instagram, Twitter, LinkedIn, and its company website.
Next, let us see the different competitors for Wipro.
Wipro Competitor Analysis
Some of the main competitors for Wipro in the IT solution services providers are :
- IBM corporation
- HCL Technologies
- Tata consultancy
- Tech Mahindra
- Sify Technologies
Let us now see the target audience of Wipro.
Target Audience of Wipro
Wipro pays much attention to choosing its right customer segment and then works on targeting that particular customer segment. Therefore, the company adheres to perform strong marketing strategies to identify and distinguish different customer groups. Wipro targets its customers based on the demographic, geographic, and behavioral framework.
Their target market/ clients would be high-end companies that seek quality IT services and business solutions.
Wipro strongly connects with its customers through branding its FMCG products. That is through its targeted clients it can reach out to the particular market easily. Wipro assists its clients in accelerating portfolio expansion and on the other hand, assists them in developing innovative capabilities to elevate customer engagements. Lets conclude here.
On the study of the business model of Wipro, we have known that it has implemented its business model very well and has the potential to grow in the market. In its product segment, it provides different services like Artificial Intelligence Automation, Cybersecurity, Cloud, Crowdsourcing, etc
With a total sales income of 52,647 INR crore, it has an above-average market share. It has different partners in the market like strategic alliances which it has partnered to create new solutions and markets, startup partnerships for investing in leading startups in different areas, etc.
Due to the high competition in the market, it uses a competitive pricing policy the market, and with its quality services, it has a higher market audience.
If you are further interested in knowing more about Wipro I would like to suggest you should read our swot analysis of Wipro.
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