Rubber Factory Swot Analysis
MRF LTD.
Introduction:
MRF Ltd. (Madras Rubber Factory Limited) is India’s No.1 tyre manufacturing company and 17th in the world. It is a Public ltd. Co. founded by K.M Mammen Mapillai in the year 1946 as a small toy balloon unit headquartered in Chennai (India). Later, it was only in the year 1960 that MRF ventured into tyre manufacturing.
Products produced by MRF are: Tyres, Pretreads, Conveyor belt, Paints & Coats. As on 30th September 2013, it has net revenue of Rs. 13,444.75 crores; net income of Rs.802.21 crores; and employee strength of 15,343.
VISION: SWOT ANALYSIS
STRENGTHS:
• MRF Ltd. ranks no.1 when it comes to tyre manufactures in India and no.17 in the world.
• It is the first Indian co. to reach an annual turnover of
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Functional Strategy: Functional level strategy is a strategy that is set for specific departments for attainment of their goals, such as human resources, finance or marketing. Once the higher-level strategies are developed, the functional units convert it into discrete action-plans which each department must accomplish for the higher-level strategies to succeed.
STRATEGIES AT MRF LTD.
Grand Strategy: Product superiority and innovation
Corporative Level Strategy: The corporate strategy adopted by MRF Ltd. is of stable expansion in the tyre industry (including pre-treads and conveyer belts) and minor diversification into the toys and speciality paints, making MRF a sharply focused company.
Business Level Strategy: The business strategy of MRF if Product differentiation. MRF makes its products unique in terms of attributes which are derivable to their customers.
MRF provides its customers with a total of 149 types of tyres. The following is its break up:
1. Passenger car - 53 types
2. Two Wheelers - 31types
3. SCV - 8 types
4. OTR - 7 types
5. Farm Services - 9
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is as follows:
1. Financial Area: MRF follows a conservative financial policy. It depends to a maximum extend on its internal funds rather than external funds. It follows a stringent policy when it comes to dividend payout and cost management.
2. Marketing area: MRF excels in the marketing area by following a proactive and aggressive policy. MRF follows the policy of listening to its customers, understand consumer behaviour and design products accordingly and enter new markets. Both in-house and foreign technology is used to bring in product quality. When it comes to prices, they adopt the policy of holding the prices and also discourage discounts. In the fiscal year ending September 2012, MRF spend Rs 120 crore on advertisements.
3. Operational area: MRF’s operational policy is to expand tyre manufacturing and also to avoid backward integration. High emphasis is given to quality; for this, many training programmes are done at all levels in the production department along with high spending in R&D to meet the expectation of customers throughout India and outside
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