Among the 33 heavy equipment manufacturing companies present worldwide, it is only Caterpillar Inc (CAT) which is the world leader. It is the leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. It’s construction industries segment’s product portfolio includes more than 300 various machines and related parts, such as backhoe loaders, compact wheel loaders, small track-type tractors, small wheel loaders, track-type loaders, medium track-type tractors, skid steer loaders, mini excavators, select work tools, multi-terrain loaders, small, medium and large track excavators, motor graders, medium wheel loaders, wheel excavators, telehandlers, compact track loaders, pipe layers and mid-tier soil compactors. These are the workhorses of any construction and mining industry and make their job easy and quicker. CAT produces equipment which are embedded with latest technologies for increased safety, comfort, reliability, durability and of good quality with an aim to help customers meet their needs. Customers have found their equipment up to their expectations and are satisfied. Hence, they are popular and widely used in construction industry making CAT a world leader. Further, no competitor company can match with caterpillar’s product range
The following are the reasons for construction companies use CAT heavy equipment:
- Focus on customer satisfaction:
- They have more than 300 machines which are durable, innovative and reliable which satisfy customers for the investment that they have made in purchase of the equipment. CAT has ability to see the job from customer’s point of view and meet their needs.
- CAT sells both new and used machines. The used machines are sold at a cheaper price than the new products.
- CAT gives option to customers to upgrade their equipment. This opportunity allows customer to use the same machine for a long time.
- Their products, services, solutions offered by them, help customers to succeed.
- They provide solutions for maintenance which minimizes downtime, reduces cost and keeps equipment in run mode during peak performance. In addition, local CAT dealers technician’s have the experience, knowledge and training necessary to troubleshoot problems faced by customers and provide maintenance and repairs of equipments. Thus, efficient service by CAT allows the customers to manage their business effectively.
- Marketing and Distribution: Its pioneer in exploring new age marketing
- They have the best distribution and product support system as compared to any other capital goods industry.
- They have dealers which are as old as the company. They have wide and strong network of dealers in different countries.
- They have built their brand and improved corporate image. They participate in various marketing channels such as trade shows and participating in technical seminars. Also use of internet has been used for advertising.
- Construction boom in Asian countries gave them good opportunity to expand especially in China.
This strategy has increased and made customer base stronger in developed and developing countries.
Thus, good marketing strategy along with innovative and durable products has won over the customers, due to which Caterpillar Inc’s equipment and machinery is widely used in construction industry.