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IIMKashipur_It's a Steal.pptx
- 1. It's a Steal AshokB, Rohit J Raphael, Shalini Srivastava IIM Kashipur
- 2. TATA being theBrand Motivation Embraces Corporate Culture and industrial environment- TATA Steel endeavor to nurture a culture of diversity, innovation, total quality management and employee care and respect. Open to New ideas and innovation- TATAsteelinovation.com encourages new ideas and there some great innovative steps taken by TATA steel globally. Example-Major research and development project, ULCOS (ultra-low CO2 steelmaking) Inspiring Leadership- Tata Steel recognized among India's Best Workplaces: Large Organization, 2020, wins IFSEC India Disaster Management Excellence Award. Creating Customer Value- The customer satisfaction percentage stands at 81.30 and the customer complaints (PPM) stands at the lowest of four years from FY15-FY19 at 444. Strength and stability- fully-integrated global steel producers, involved across mining, iron- making, steel-making, casting, rolling and finishing, and marketing and sales • Steel Products Goes into in major green building projects in India accredited with ratings like GRIHA Rating, IGBC Platinum Rating , IGBC Gold (India’s 1stcricket stadium with IGBC gold rating). • Lowest cost steel producers- Lowest cost steel producers in the world through improved operational efficiencies and business excellence. One such program launched to expedite projects related to operational excellence-Shikhar25
- 3. Stakeholder’s Perception What valuesdo you associate Tata with? Customer Value , 17% Ethics, 23% Inspiring Leadership, 20% Innovation, 6% Best Social Practices, 16% Strength and Stability, 18% Impact on Business High High Interest in Business Low Low Customers What association do draw when you hear Tata Steel? Good Business Heritage Manufact uring Economic al Builders Series1 53.80% 61.50% 56.40% 28.20% 10.30% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% Media Govt Bodies Investors Suppliers Consumer General Public • TATA Steel is associated with a range of good business values • Primary research reveals that the brand outlook is lacking in Innovation and best social practices • End users are not aware of the qualitative and definitive aspects of TATA Steel • Different stakeholders based on the impact on business have to be targeted to bring fresh perspective • Channels to achieve this are through new CSR practices, focus on innovation from the grassroots level and a leadership engagement that’ll have reachability Stakeholder Matrix
- 4. Primary Research indicatescreating awareness in the field of innovation, Technology and improving the communication channels amongst both internal and external stakeholders are the major areas that need attention. Analysis from the Research Challenges Faced 89th Innovation percentile **According to Scimago Institution Ranking
- 5. Analysis from theResearch • Analysis shows that TATA Steel website doesn’t get the traction compared to it’s competition. TATA Steel has one with the highest visits amongst its competitors but companies like Tesla and Bosch have been able to get better traction( in million) • The number of visits, Unique Visitors and the bounce rate are on the negative side. • Competitive analysis suggests that TATA Steel’s competitors JSW, Hindalco, JindaSteelpower have been able to get increase in visits. • SEO and AI can engage with general retail customers on platforms on searching for “Home designing and building” searches to suggest Pravesh and Aashiyana. • Referral system - vendors suggesting TISCON products to other vendors. The rewards will be in the form of future discounts on orders on the online portal or offline.
- 6. Company’s Best Practices BestPractices Bosch rebranding and foray into diverse fields such as technology, services and systems is something which the TATA group too has done: 1. Promote digital at the fore, human at the core, values. 2. Industrial Automation in the 4.0 world balanced with upskilled people capital 2. Bosch CSR activities have a 3-pronged approach, including employee managed foundation, Costco: The power of doing what you do best 1. Inclusivity through exclusivity: Costco’s entire business model depends on the membership and word-of-mouth. 2. The products, services, employee benefits are so famous that people reap enormous benefits by paying the club membership. Through this, it keeps it’s product costs low. 1. Exemplary customer experience – Design the customer experience journey in a smooth and transparent way. Customer spends time focusing on the product, its quality and requirements, than the price and information seeking. 2. Social media is at the heart of everything Tesla does. 3. Make sustainability and longevity an integral part of the branding. Tie-ups with companies going toward full green building certifications, increase brand visibility and association with such initiatives. Puma capitalises on quick reaction to rising trends in the industry and lay huge emphasis of innovation 1. External Branding based on conventional methods like billboards and digital ones like Social media adds to the customer pre-purchase experience. 2. Leverages the rich history, along with the dynamic present to create a flashy sporting brand. 3. Puma has an sporting ecosystem surrounding it’s sponsored clubs and is identified powerfully with it Bosch: Rebranding done right Tesla Branding Practices: Embracing the challenge Puma: Speed is everything Costco: The power of doing what you do best
- 7. Visibility Ideas Students • Leadershiptalks in colleges – Inspiring business • Support entrepreneurship/small businesses • TATA Insights app: will latest industry updates and news • Promote the courses on Tata Steel’s Capability development Program in Engineering and Management colleges. • Also conduct workshops in the colleges – Fostering Ideas Tata Employees • Instil pride in organisation culture – “Story Mode” – Instagram posts where Employees share their experiences • TV screens in cafeterias displaying messages TATA stands for, Integrity, Inspiration, Innovation etc. • Tie up with ACT broadband to enable better WFH with attractive offers • Tie up with YourDost so that employees can have access to psychiatric help • Room for creativity – Open a portal/platform for employees to submit their ideas/suggestions • Room for creativity – Open a portal/platform for employees to submit their ideas/suggestions • Internal team Recognition programs – weekly, monthly, yearly, (vouchers and gift cards can be used) Institutional Customers • Newsletters • Transparency General Public and Media • Charity campaigns and creating awareness • Create Virtual tours of factories • Integrate Tata cliq with Vistara website, this would entail shopping along with ticket bookings. People shop for vacations • Have promotional events/games/lucky-draws at malls, give out Jamshedpur FC merchandise as prizes • Position Tata magazines, articles etc. on Airlines (Vistara) • Instagram promotion with links to direct to page. Interesting polls and quizzes on facts about tata steel as Instagram stories. • Coupons "TravelWithTATA" given to ola/ Uber users for travelling to/from/via various construction sites made using TATA Steel. Example- Bogibeel Bridge, Sardar Vallabhbhai Patel Stadium in Motera Financial Institutions • Demonstrate Ethical Practices • Regular affirmations • Stress on sustainability measures undertaken
- 8. Campaigns Carbon Neutral Pledge Tatasteel to become Carbon neutral by 2050. Take a pledge and encourage other manufacturing industries to take a pledge to reduce their carbon emissions Social media People upload pictures of green initiatives with the #wealsomaketomorrow Top initiatives selected will win Tata Merchandise There’s a little steel in everybody’s life Stress on how Tata steal is there in everything people use in their daily lives, instill that sense of pride, heritage, Good business & honesty • Documentary series (Netflix/Amazon special) – 3 part: heritage, Challenges and adversities, innovation – Release on Founders Day as tribute • Tata Talks - Web series with various industry leaders Steal the spot OOH Strategically place hoardings in busy junctions stressing on Tata Steel’s contributions to the city. Food festivals Cricket Activity Reach Cost Assumptions Documentary/Series 1,10,00,000 2,70,00,000 Cost of 1 finished min – 1,00,000 Tata Talks 2,00,000 10,00,000 100k views/video(1/5th) Magazines 1,10,00,000 37,80,000 42 planes – 200 flights/day-150 seating Mall promotions 17,10,000 11,00,0000 50 malls – 15000 footfall/day – 2days Steal the Spot 32,40,000 1,65,50,000 Total Daily Average Metro riders of each city Student Reach Programs 19,200 8,60,000 43 Colleges IITs & IIMs Guesstimates