Differentiation: A strong brand helps a company stand out in competitive markets by clearly communicating its value proposition. It creates a unique identity, establishes a competitive edge, and positions the company as a leader in its industry. For example, Google is synonymous with internet search.
Customer Loyalty: A positive brand experience builds emotional connections, making customers less price-sensitive and willing to pay a premium. Loyal customers generate repeat business and act as brand ambassadors, reducing customer acquisition costs and boosting long-term profitability.
Talent Acquisition and Retention: A strong brand not only attracts top talent but also enhances employee morale and engagement. Employees who identify with a reputable brand are more motivated, productive, and committed, driving better business outcomes.
Scoring brand strength is subjective because it relies on individual perceptions and interpretations of various factors, such as customer sentiment, market dynamics, and the competitive landscape, which can vary.
Using our scoring methodology, the average score of a business is calculated as being C (average). This differs from the average score of the top 10,000 businesses featured in our coverage. Weighted to that cohort, the average brand strength score increases to a B (good).
The analysis team have noted the following factors impacting its brand strength:
The 7Ps of marketing are crucial components of strategic decision making for any organisation in any industry vertical.
Using the 7Ps in competitive analysis provides a holistic view of the marketplace, allowing businesses to refine their strategies, capitalise on competitors' weaknesses, and better meet consumer needs. The 7P's are defined as:
- Product/Service
- Price/Fee
- Place/Access
- Promotion
- People
- Physical Evidence
- Processes
All these elements together frame an organisation's marketing mix, crucial for creating effective marketing strategies.
This 7P analysis is designed to provide a valuable insight into the business strategies of the company. It can be used to reveal strengths and weaknesses in their marketing mix, offering opportunities to compare and enhance a business.
1. Product/Services: Tech Mahindra offers a wide range of technology products and services, including IT consulting, digital transformation, cloud services, cybersecurity, and business process outsourcing. These offerings cater to various industries such as banking, healthcare, retail, and telecommunications.
2. Price/Fees: The pricing strategy of Tech Mahindra is based on the value they provide to their clients. They offer competitive and flexible pricing models, including fixed fee, time and materials, and outcome-based pricing. This allows them to cater to the needs and budgets of different clients.
3. Place/Access: Tech Mahindra has a global presence with offices in over 90 countries, making their services easily accessible to clients worldwide. They also have multiple delivery centers and strategic partnerships, ensuring efficient and seamless service delivery to clients.
4. Promotion: Tech Mahindra uses a mix of marketing channels, such as digital advertising, events, and thought leadership content, to promote their products and services. They also leverage their strong brand image and client testimonials to attract new clients.
5. Physical Evidence: As a technology company, Tech Mahindra does not have physical products, but they have a strong online presence through their website and social media platforms. Their modern and user-friendly website, along with their active social media presence, serves as physical evidence of their expertise and capabilities.
6. Processes: Tech Mahindra follows a customer-centric approach and has well-defined processes to ensure quality and timely delivery of their services. They have a robust project management methodology and employ agile practices, enabling them to adapt to changing client needs.
7. People: Tech Mahindra's team of highly skilled and experienced professionals is its biggest asset. They invest in employee development and training, ensuring their team is up-to-date with the latest technologies and can provide top-notch services to clients. They also have a diverse workforce, promoting inclusivity and innovation.