Company profile- itc was incorporated on august 24, 1910 under the name of ‘Imperial Tobacco Company of India Limited’. Its beginnings were humble. A leased office on Radha Bazar Lane, Kolkata, was the centre of the Company’s existence. ITC has a diversified presence in Cigarettes, Hotels, Paperboards & specially Papers, Packaging, Agri-Business, Packaged Foods & Confectionery, Personal Care, Stationary, Safety Matches and other FMCG products. While ITC is an outstanding market leader in its traditional business of Cigarettes, Hotels, paperboards. Company’s rank- it ranks third in pre-tax profit among india’s private sector corporations. Itc is one of the foremost private sector companies with a market capitalization of over US $ 22 BILLION and a turnover of US $ 6 billion. ITC is rated among the World’s Best Big Companies, Asia’s ‘Fab 50’ and the World’s most reputable Companies by Forbes magazine. ITC ranks among India’s ’10 Most Valuable (Company) Brands’. Itc is one of India’s most valuable and respected corporations. Itc’s corporate strategieas are-
1. Create multiple drivers of growth by developing a portfolio of world class business that best matches organizational capability with opportunities in domestic and export markets. 2. Continue to focus on the chosen portfolio of FMCG, Hotelos, Pper, paperboards & packaging, Agri business and information technology. 3. Benchmark the health of each business comprehensively across the criteria of Market Standing Probability and Internal Vitality. 4. Ensure that each of its business is world class and internationally competitive. 5. Enhance the competitive power of the portfolio through synergies derived by blending the diverse skills and capabilities residing in ITC ‘s various businesses. 6. Create distributed leadership within the organization by nurturing talented and focused top management teams for each of the businesses. 7. Continuously strengthen and refine Corporate Governance processes and systems to catalyze the entrepreneurial energies of management by striking the golden balance between executive freedom and the need for effective control and accountability.
Marketing strategy used by itc-
ITC started an earnest exercise by creating a new brand image and corporate philosophy by investing in new business categories like personal care, premium apparel, rural business and foods. All along using its famed distribution strengths built through its successful past business like cigarettes, paperboards and packaging,hotels and agri business, to create synergies across its verticles and help prop up its new business, like personal care and foods. ITC has a well thought-out strategic approach. Rather than acquiring weaker brands to get into these new segments inorganically, it created a range of new personal care and branded apparel brands. The first step in this well-planned strategy was the launch of WILLS LIFESTYLE, the premium branded apparel business in 2002.