Marketing Mix Elements

Landing on the thick cloud of Marketing Mix

The above five concepts are interlinked and hence give rise to the marketing mix which consists of the four “Ps” of marketing viz. Product, Price, Place and Promotion.

These four Ps stem from the customer value construct, encompassing the cost-benefit analysis and also give a fairly clear picture of where the product/service stands in the context of market, industry and also in its life cycle (within the brand as well as the category). It helps the marketer to understand the key areas where the product needs to improve and assess the strengths of the promotional schemes employed.  The 4 Ps help answer the following questions precisely.

In the context of Saffola Active, the four P’s answer these questions as follows:

PRODUCT:

Customer Requirements: Economical, Less absorbent, and Healthy.

Features: Low Absorb Technology, Cholesterol and Trans Fat Free, Healthy Oil.

How and where will customer use it? : To cook healthy food.

What does it look like? Pouch/Can

Colour: Golden (connotes luxury)

Size: 1Ltr, 5Ltr.

What is it called? Saffola Active – Saffola Aaj se

How is it branded? A healthy product, premium quality

Differentiated as: Marico promise to deliver exceptional quality as always

PRICE:

Monetary value: 1Ltr – 115-130Rs, 5Ltr – 580Rs

Price Point: Price at par with nearest competitors and its other variants.

Discounts to traders/retailers: Attractive trade discounts to retailers 

Price Sensitivity: Product caters to high-end customer- therefore lesser price sensitivity.

PLACE:

Location of product: Small Kirana Shop in locality, Large retail stores (Big Bazaar, Reliance, DMart)

Distribution Channels: Distribution Channels include wholesalers, agents

Sales force used or not? Sales force not used to reach the customer but aggressive sales promotion in the context of retail stores (pushing for maximum shelf space)

Competitor Strategy: Competitors follow more or less the same distribution channels.

PROMOTION:

Where to promote? Promotion on TV, Print, PoP display and persuasion.

Best time to promote- all through the year as it is a daily use product. Cannot be promoted seasonally, but special occasions like Valentine's Day, World’s Heart Day etc can be tapped

Competitors' strategy: Neck to neck. Similar strategy. Key differentiator is that Saffola Active positions itself as a premium and healthy quality.