Previously we saw the Marketing Strategy of Reliance, today let’s look at the SWOT analysis of Jio.
Reliance Jio Infocomm Limited, working together as Jio, is an Indian broadcast communications organization and an auxiliary of Jio Platforms, settled in Mumbai, Maharashtra, India.
The company has built a strong brand image with its effective service and marketing strategies. Marketing has evolved a lot over the years and now digital marketing is the new trend of the era. If you also want to learn about digital marketing, do check out Free Digital Marketing Masterclass by Karan Shah the founder and CEO of IIDE.
In this blog, we will look at the SWOT analysis of Jio, before that let’s have a look at the company overview.
Reliance Jio is one of India’s biggest organization suppliers whose advertising and business techniques surprised the world. It altogether affects India’s computerized biological system. Begun working in the year 2016 as a media transmission supplier, it acquired more than 50 million supporters in precisely 83 days of dispatch. Zeroed in on furnishing India with the capacity of the computerized unrest – to join everybody by giving the greatest of availability at the most reasonable cost.
“Jio dispatched a fiber to the home assistance, offering home broadband, TV, and phone utilities. Reliance Industries has raised ₹1.65 lakh crore by selling an almost 33% value stake in Jio Platforms.
Through this blog, we will attempt to comprehend Jio utilizing SWOT Analysis. However, before that, we should initially think about Jio.
The development of computerized media and advanced stages has made robotic advertising the influential type of showcasing. Indeed, even conventional channels are changing to squeeze more advanced media into them, and that underscores its significance in a cutting-edge advertising technique.
|Origin||Mumbai, Maharashtra, India|
|No. of Employees||2,36,334 (2021)|
|Market Cap||$ 68 Billion (2021)|
|Annual Revenue||$12 Billion (2021)|
|Net Income/ Profit||$ 1.7 Billion (2021)|
Services Provided by Jio:
Jio provides multiple telecom services, some of which are
- Mobile broadband
Competitors of Jio:
Being in the telecommunication industry, Jio faces tough competition. Some of its major competitors are as follows.
- Bharti Airtel.
- Sify Technologies.
- Frontier Communications
SWOT Analysis of Jio
It is a brief overview of the company’s strengths, weaknesses, opportunities & threats it offers. The strengths and weaknesses of a company are shown through its internal efforts and threats and opportunities are affected by external factors.
1. Strengths of Jio
Strengths are characterized as what every business is best in its array of tasks, giving it an advantage over its rivals. They are inner qualities and assets that help an organization get effective results and can be utilized for the upper hand.
- Most grounded Customer Acquisition technique – Reliance Jio presumably has the best client obtaining procedure to date. The brand offered their organizations in vain for 3-6 months to all of their customers. This achieved countless customers using Reliance Jio and achieved one of the most astounding customers acquiring methodologies all through the whole presence of telecom.
- Solid Parent Organization – Jio is an auxiliary of Reliance Industries Limited which is high on its fund and can go about as a reinforcement for imaginative future endeavors. Dependence is a famous brand with a skillet Indian presence and has high trust among clients.
- Innovative Technology-Jio right now utilizes the most recent 4G LTE innovation which is one of the world’s best advances for what’s to come. This is upheld by Voice over LTE which makes it versatile and steady of 5G and 6 G advancements which are relied upon to be the future in remote correspondence.
- Strong Customer Base- Jio gloats of an astounding 100 million endorsers in the initial 170 days of its dispatch, a record which no other supplier has had the option to enlist. This has in like way made Reliance Jio India’s most noteworthy Internet Service Provider.
- Market Share- First mover advantage in making information cost more reasonable. Constrained different administrators to cut charges by winning a tremendous market share.
2. Weaknesses of Jio
Weaknesses are inner qualities and assets that neutralize a fruitful result. It is utilized to allude to regions where the business of the association needs improvement.
- Late Entry –Reliance Jio has made a late introduction to the market which previously had set up players like Airtel and Vodafone who had involved a spot in the personalities of the client. It is trying to build a portion of the overall industry fundamentally since the contenders are solid MNC’s, the place where the money wouldn’t be an obstruction to keep Jio in check.
- Activation Issues- Reliance Jio confronted various incubation issues attributable to not having the option to contain the colossal volumes of clients it had acquired. Such were delays in SIM Card actuation during the period that followed its dispatch.
- High Reliance on Data– Reliance Jio is profoundly subject to information charges since call charges are free.
3. Opportunities of Jio
Opportunities are delegated outer components that the substance can gain by or use for its potential benefit to accomplish its objectives. These emerge when an association can exploit conditions in its current circumstance to design and execute methodologies that empower it to turn out to be more productive.
- Future Driven Technology –Reliance Jio utilizes VoLTE 4G organization which is versatile to oblige 5G and 6G advancements. This offers various roads to Jio or future extension of transmission capacity.
- Apps- Reliance Jio has VoLTE which has a lot of scope in terms of bandwidth. Thus they can offer apps to customers which are chargeable or even free initially and pay peruse later.
- Competitive Pricing Strategies– Reliance Jio values being a minimal expense Internet specialist co-op and versatile administrator. This can be used as positioning to target more markets and grow their market share since most of their competitors cannot afford their prices.
- Expansion – Currently Reliance Jio is functional just in India. There is, nonetheless, a ton of degree for development to unfamiliar nations essentially in the adjoining areas.
- Data for Billion People– The core opportunity is data and speed of data. Millennials are hugely involved in various platforms. The government push for digitization is making data a necessity rather than a privilege.
4. Threats of Jio
Threats emerge when conditions in an outside climate risk the unwavering quality and benefit of the association’s business. These outside variables could seriously influence the achievement of the undertaking.
- Risk of Loss of Customers- Customers lean toward Jio fundamentally in light of the low costs that they offer. At a phase when the organization expands its value, there might be a deficiency of clients. Client devotion is a test.
- Removal of Fee Services- Jio currently is associated with a lot of freebies. Once these are eliminated there might be a drop in deals for the organization.
- The Loyal Customer Base of Existing Players- The current contenders have a solid presence on the lookout. A late contestant like Jio will have a test in persuading faithful clients of different administrators since individuals are inclined toward more steady and dependable administrators.
- Criticism and Negative Image –Reliance Jio has been involved in a ton of discussions from the time it was begun. These have achieved a negative brand picture for the association.
Jio is a global name and has taken over the Indian market easily and very quickly. The company has got the benefit of its parent group and has easily acquired the trust of customers. It has a significant portion of the market share in the industry due to its smart marketing tactics and free offers.
Jio entered the market very smartly and gave people free services that helped the company gain a lot of customers and ultimately a strong competitive advantage. Marketing has played a major role in the success of Jio. In today’s world digital marketing is the new trend and if you also want to upskill your knowledge in it do check out top-quality courses provided by IIDE.
Found the blog insightful? Check out the Knowledge Portal of IIDE for more interesting case studies on various companies.
Thank you for reading the blog. Let us know your thoughts on the same in the comments section below.