Maharatna steel firm Steel Authority of India Ltd (SAIL) is eyeing new export markets as it looks to expand and consolidate its overseas presence.
SAIL is targeting to sell 10 % of its saleable steel products to new geographies like Africa, Philippines, Indonesia, Thailand, Sri Lanka, Bangladesh etc, the company chairman PK Singh said in Kolkata during his address to marketing executives.
“SAIL is also streamlining its channel management to address the needs of customers in untapped geographies. In the times to come, SAIL will focus on retail sales with higher volumes and deeper reach along with exploring effective ways of transportation and logistics”, he added.
During the interaction,Singh praised the marketing collective’s efforts for developing dedicated cross-functional teams for marketing the company’s new products and exploring new markets befitting them.
Acknowledging the efficiency of SAIL’s new marketing strategy aimed at gaining a competitive edge in the market Mr Singh said, “For SAIL, the new marketing strategy, with customer retention through enhanced customer experience as its mantra, is a way-forward to consolidate its market leadership and is a crucial tool for the turnaround of the company in the near future.”
Pointing towards the stiff market competition, he said, “Big challenges offer great opportunities. Capacity addition by other companies enhances market competition and in such a scenario SAIL’s intelligent workforce, experienced manpower and new assets are great advantages.”
Talking on market strategies, he said, “While retaining our core marketing values, we are strengthening our market-centric and consumer-oriented approach for reaching our customers. At SAIL, customer-value management is supreme. With stabilization of most of our new and modernized mills, we are diversifying our product basket with several value-added and ready-to-use products. SAIL will introduce several new and niche brands to its product basket. Gauging the domestic and international market, SAIL aims to have a blend of both markets in its portfolio.”
While interacting with employees by turn at each SAIL unit through large group communication exercises, SAIL’s top management has been brainstorming to further align its production planning with greater market orientation.
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