In our previous article, we learnt about the SWOT analysis of Shree Renuka Sugars. In this blog, we elaborate on the Marketing Strategy of Shree Renuka Sugars – India’s Leading Sugar producing Company.
The objective is to learn and gain insights about Shree Renuka Sugars and how it became India’s largest sugar manufacturer.
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We will learn the entire marketing strategy of Shree Renuka Sugars by the end of this blog. Before diving deep into its insight, let’s begin with the company’s story, target audience and digital presence.
About Shree Renuka Sugars – Company Overview
Shree Renuka Sugars deals in global agribusiness and bio-energy corporations. The company is on the list of largest sugar producers in the world & largest sugar refiners in the world, in India, it is the No.1 Sugar producer, To be recognized as a ‘One Stop Solution Provider’ for its products: Sugar, Ethanol, Power & Organic Manures.
Shree Renuka Sugars is the leading manufacturer of sugar in India. It was founded in 1995 & is currently owned by Wilmar Sugar Holdings Pte Ltd. The leading sugar manufacturer of India has experience of more than 2 decades & hit some milestones in its long journey.
Being a manufacturer of a necessary commodity like sugar, Shree Renuka Sugars has worked hard to provide this necessity easily to the public; over time it has increased its manufacturing units to produce more of its products, currently, the company operates seven integrated sugar mills & two port-based refineries in India.
The company has seen tremendous growth in various segments of Industry both nationally as well as globally through continuous development and innovation by providing sustainable products and services.
|CEO||Mr Kuok Khoon Hong|
|Area Served||India, South Asia and Middle-East countries|
|Industry||Sugar, Ethanol, Power & Organic Manures|
|Market Share/ Revenue||Rs 12,824.15 Crores (2022)|
|Vision||To be amongst the top 3 integrated sugar and ethanol companies in the world by harnessing its strengths and realising synergies throughout the global presence.|
|Tagline||One Stop Solution Provider – Purity and Hygiene se No Compromise!|
Marketing Strategy of Shree Renuka Sugars
Let’s learn about the Interesting Marketing Strategy of Shree Renuka Sugars and how it carries out its marketing campaigns!
Segmentation, Targeting and Positioning:
Consumers in the Food Processing Industry vary in their requirements, wants, demands, resources, locations, access to technology, cultural differences, buying attitudes, and end use of the products and services. Market segmentation is the process through which Shree Renuka Sugars decides to use smaller segments of markets and groups with analogous attributes, buying gestures, socioeconomic background, etc. This is done to reach out to the group of consumers very effectively and efficiently.
After the identification of various consumer segments within the business, Shree Renuka Sugars should target a specific market.
The choice of the target market depends upon ten critical factors –
- Organisation’s relative strengths and sins to market successfully to the target market
- Organisation’s vision, and consumer segment fit
- Financial resources to target a specific segment of the market
- The presence of applicable collaborators to market successfully
- Competition in the target segment
- Product Life Cycle stage
- The financial return eventuality of the target market
- Organisational specialised capabilities to feed a specific consumer segment in the Food Processing industry.
- Regulatory and other entry walls
- Segment structural attractiveness
Shree Renuka Sugars needs to position or place its product in such a way that it creates a – different image and provides a specific identity/reference point of the product and services in the customer’s mind. Effective brand positioning and product differentiation have become increasingly critical because of the driving down of product costs in the Food Processing Industry and the direct access to consumers using e-commerce and other online marketing strategies.
For a successful Customer Value Driven Marketing Mix, Shree Renuka Sugars needs to target the customer at the centre of the decision-making process and then make decisions based on the customer’s requirements and wants, the firm’s financial and technical resources to develop products at a certain price. Eventually, it has to choose both distribution and promotion channels to reach those customers effectively and efficiently.
Factors determining the Positioning choices of Shree Renuka Sugars are –
- Relevance of positioning to the customers
- Margins in the Food Processing industry
- Competition ability to imitate & replicate
- Marketing resources with the firm
- The corporate image of Shree Renuka Sugars
- Ability to defend a differentiation and positioning
- Threats of direct competition and competitors’ response
- Strategic fit of Shree Renuka Sugars
- Current product portfolio
- Consumer ecosystem
A campaign was held by Shree Renuka Sugars on Facebook and Instagram in Monsoon Season where the top 10 most liked Moments with their favourite desserts and Comment winners were given a chance to receive exciting prizes from Madhur Sugar. The hashtag for the campaign was #MadhurMonsoonMoments where the user had to tag their friends in the comment section and share their way of enjoying and the user had to share the same post on their Social Media handles. The reason behind this campaign was to advertise Madhur Sugar as well as bring people closer.
Again this campaign also got successful and the post got more likes. The reason behind it was the unique campaign idea and the great use of marketing strategies like curetting the post with the right hashtags and promising user-generated content.
Shree Renuka Sugars organised another similar Christmas campaign in December 2021 for 5 lucky winners via its social media page on Facebook and Instagram to advertise Madhur Sugar. The campaign was done to increase the social media page followers with the hashtag #MerryWithMadhur where the users have to follow their account on Facebook and Instagram, tag them, and share a photo/video of a Christmas treat with Madhur Sugar pack shot so that the brand would gain more advertising and will ultimately increase its reach.
The campaign became successful. The reason behind the triumph was the unique campaign idea and the great use of Social Media Marketing Strategies like proper use of hashtags and promotion of user-generated content.
Shree Renuka Sugars held a campaign on Facebook and Instagram for working professionals too where they have Monday morning with a fresh start before going for a meeting, research or presentation work. The only reason behind the campaign was to let the youth get familiar with Madhur Sugars and to increase its Facebook and Instagram page followers. The creative marketing campaign idea and accurate use of Facebook and Instagram marketing strategies have advertised the product giving immense likes to the post.
Social Media Marketing
Shree Renuka Sugars is also active on Social Media handles like Facebook, Instagram and LinkedIn. It has maximum followers on Facebook. The Facebook page has followers in the range of around 120K. LinkedIn is more of a professional sort of social media which excludes some people as most of them don’t have an account on LinkedIn. The posts contain mostly promotional and knowledgeable content with some posts related to their new product launching.
According to SEO ranking, it is usually said that the number of keywords – below 500 is bad, above 1000 is good and 10,000+ is amazing. As we can see that the company’s website has 4975 organic keywords and it’s considered as good. That means the digital marketing of Shree Renuka Sugars is gaining a good number of insights.
Also, the traffic per month is around 1.5K+ which is known as average. Hence, it still needs improvements in its SEO strategies while working hard enough to keep the brand soaring in the Google SERP results.
SEO strategy is another alternative and Shree Renuka Sugars uses it to the fullest extent. As we have already seen that most of its traffic (over 60%) comes from searches made online. Shree Renuka Sugars drives around 70.44% of organic traffic and the rest comes from paid marketing campaigns. This proves that Shree Renuka Sugars is fueled by a full-proof SEO strategy along with working hard enough to keep the brand soaring in the Google organic SERP results.
Since the beginning, Shree Renuka Sugars has collaborated with many YouTubers, Bloggers, Food pages, etc. for their marketing purpose. They have many influencers with more than 120K+ followers. Influencers promote the product so that it gains enough popularity and the sales will increase through their fan’s following.
Currently, Indian Billionaire Industrialist Gautam Adani, chairperson and founder of the Adani Group looks to buy Shree Renuka Sugars from Wilmar International. This has led to a highly influencing stage in the marketing of Shree Renuka Sugars’ products.
E-Commerce Strategies (Mobile-Apps)
Talking about the e-commerce strategies and other online retailing strategies, Shree Renuka Sugars has its website from where it sells its products online too with special offers. Besides that, it has gone along with Zomato, Reliance Digital, D-Mart, Bigbasket, Flipkart, Amazon etc.
Shree Renuka Sugars is active on social media. The post content is related to their information regarding new product launching and promotions, awareness messages, marketing campaigns, etc. The only source of posting content is through their Website, Facebook or Instagram.
Also, they press releases about their products and the Share-market news (Share-prices) through various newspaper sources such as The Hindu, Economic Times, MoneyControl, Indian Express, Times of India etc. This Content Marketing strategy becomes extremely helpful in the marketing of the Company’s products and services.
This ends with an elaborative marketing strategy of Shree Renuka Sugars. Let us conclude our learning below from the marketing strategy of Shree Renuka Sugars.
Conclusion – What’s unique in Shree Renuka Sugars?
Shree Renuka Sugars is one of the fastest-changing and growing industries in India. It is well-known for its products and position in India. The company enjoys strong brand awareness and trust from its customers. It has a solid logistic base and covers all marketplaces it serves, but suffers from more active exploration and development from an increasing number of manufacturers and challengers in the same space.
Despite being such a huge brand, Shree Renuka Sugars should continue to innovate and develop more products and launch them in the market with the best possible marketing strategies.
Digital marketing is crucial since it links a company with its clients when they are online and is effective across all sectors. It links businesses with ideal consumers through SEO and PPC on Google, social media marketing, and email marketing. If you would like to learn more and develop skills, check out IIDE’s 4-Month Digital Marketing Course to learn more.
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We hope this blog on the marketing strategy of Shree Renuka Sugars has given you a good insight into the company’s marketing strategies.
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