India is currently on the brink of a massive transformation. This will change the nuances of the country across different strata through initiatives that will improve the infrastructure and enhance the standard of living. Skill India is one such initiative, wherein the Government of India is working towards skilling 40 crore Indians in different facets by 2022. Additionally, the intent to digitize rural areas will also positively impact outcomes by reducing constant human dependency, right through the awareness to post-service stages.
India’s construction industry is slated to become a USD 1 trillion worth industry by 2025, and by 2030, India will be the third-largest global construction market, increasing its GDP contribution by 15%. Further, the Smart City goal will create more peripheral jobs for workers directly and latently involved in the industry. To turn such a mass-level transformation into a reality, we need to inculcate and induct players from various societal sections, including the grass-root level.
Bosch Limited’s Power Tool division works relentlessly to improve the professional capabilities of construction workers, tradesmen, contractors, carpenters, artisans, and industrial and institutional customers under five overarching themes:
Affordability, Reach, Digitization, Service Solutions, and Brand. Additionally, the recent digital initiatives related smart moves made by Bosch, such as the Toolbox app, which connects all stakeholders; My Bosch Buddy, an app, which equips the salesforce to better connect with end-users and quickly provide valuable inputs, etc. empower customers to seek valuable assistance quickly, easily, and on the go.
Bosch Limited’s innovative products and solutions positively impact industries to increase efficiency, productivity, revenue streams, and to subsequently promote a stronger base to India’s industrial pyramid.
Bosch takes a strategic approach tailored to suit local needs to avoid overwhelming customers, and specifically providing necessary solutions that are profitable to their business. Further, this drastically cuts down on the cost. For instance, our Tradesman’s Tool Bag is devised with the optimum product mix keeping the needs of the local customer in mind. The current Tradesman’s Tool Kit has eight products (at the time of writing), and work is in progress to add eight more. Another way we make Bosch Power Tool products affordable is through localization. Our region-for-region sourcing strategy includes locally manufactured tools and accessories and optimizing the existing range of SKUs by making it leaner to primarily meet the user’s relevant needs.
Widespread access to all Bosch Power Tool products
Customers usually know which products they want to buy, but are unaware of the right brand to choose. Through strategic marketing and distribution approaches, as well as via multiple reward initiatives, we intend to make our portfolio of products available across tier 3 and 4 cities as well. In line with that, Bosch opted for a significant business model shift, from wholesale to retail, thereby expanding the distribution channel. Bosch has already captured a huge portion of the accessible construction market, and the plan is to increase it further by 2022. At the ground level, we aim to integrate a wide array of offline and online supply channels, whether it is by being present across the 1,00,000 home improvement stores in the country or by scaling up our online reach on popular e-commerce outlets.
While acquiring new customers is always a priority, retaining existing ones is a crucial element of a sustainable and profitable business model. To boost better customer patronage, the app-based loyalty program, My Bosch Rewards, promotes long-term relationships by enabling users to earn redeemable reward points for each purchase. The points can then be used to earn prizes ranging from home appliance products to two-wheelers.
The second initiative is our active engagement with large users directly through our Key User Teams, wherein we currently engage with over 500 large users through seminars and training workshops. We aim to scale up to 1200 in the next three years.
Digital initiatives to add value and prompt better engagement
We, at Bosch, understand that digital is the way forward, whether it is to reach the right audience, facilitate quicker shop-to-customer delivery, or to add value to our partner framework. We aim to achieve that through initiatives, such as paying serious and continuous consideration to ensure smoother online purchases through round-the-year inventory availability, product promotion, and customized digital marketing plans to boost the online sale of products. The My Bosch Rewards app is a fantastic way to constantly stay connected with our end-users, thereby staying on top of their mind, and, when combined with attractive reward programs, it also builds a strong preference for the brand.
Additionally, we believe in empowering the essential link between Bosch and the customers – our salesforce and partner supply chain – which we do via platforms, such as My Bosch Buddy and Toolbox. An integral step towards enhancing the professional capabilities of the workers is by ensuring on-time availability of comprehensive information. To seek information and guidance, our users usually turn to our salesforce, which is why it’s essential for them to have that data available at the click of a button. My Bosch Buddy offers complete transparency in the value chain, and its mobile interface enables our partners to access information on the go, whereas its B2B feature facilitates direct online order placement by dealers as opposed to manually sourcing Bosch products. At Bosch, we give due attention to digital efforts, as we understand that in a country that’s adopting digitization at such a rapid pace, such measures are crucial towards creating a connected Bosch ecosystem.
The undisputed and clear competitive advantage lies in our service solutions. Our aim is to expand the service network by increasing the number of service centres from 550 to 1000 in the next 3 years besides increasing the number of pick up and drop service vans. Additionally, in the near future we would also mobilize the Bosch India website to register and avail services for tools online.
Panish P K
Bosch Power Tools India & SAARC
Creating a stronger service solutions framework
While, on one hand, our aim is to constantly churn out products that set a benchmark in the industry, on the other, we also work towards making these products easily and quickly accessible to our partners and users.
Maintaining Bosch’s customer-centric brand image
We, at Bosch, strongly believe that a real user is at the epicentre of all our efforts, and our authenticity shows through directly in the words of and through long-term engagements with our users. Whether it is devising solutions, enhancing service, or simply addressing concerns, Bosch has built a people preferred brand image due to its constant efforts towards offering the user exactly what he needs. We regularly capture real stories of people impacted by our products.
The five above-mentioned core pillars are key to realizing Bosch’s vision of fascinating customers with affordable power tools solutions by leveraging the right channels. From striving to produce the highest quality products to ensure that delivery and post-delivery services are meted out as per the expectations of our customer, we will continue to reinvent the wheels and enable India in its journey to becoming a global powerhouse by leveraging local resources.