Marketing Mix Articles

Marketing Mix of Bajaj Auto Limited [Detailed Analysis]

Marketing Mix of Bajaj Auto Limited elaborates 7Ps – product, place, price, promotion, process, people, and physical evidence. Bajaj Auto Limited is the largest two-wheeler and three-wheeler manufacturing Indian Multinational company. Bajaj Auto Limited is headquartered in Pune, Maharashtra. Bajaj Auto manufactures bikes, scooters, and three-wheeler. Bajaj auto was established by Jamnalal Bajaj in 1945 at Rajasthan. Bajaj has its oldest manufacturing plant in Akurdi Pune.

Bajaj Auto is ranked as the 3rd Largest manufacturer of bikes and the world’s largest manufacturer of three-wheeler. Bajaj Auto has a manufacturing capacity of 6330000 units of vehicles every year. Net income of Bajaj Auto in the year 2019 was 5100 crore rupees and total assets of Rs. 26510 Crores. Bajaj Auto has a huge employee base of 10000 employees.

Bajaj Auto faces a tough competition from:

S.No.Honda
1TVS
2Hero Moto Corp
3Yamaha
4Suzuki Motors
5Royal Enfield
marketing mix of bajaj auto limited

Product in the Marketing Mix of Bajaj Auto – Bajaj Auto Marketing Mix

Bajaj Auto Limited is an Indian Multinational company that manufactures many products. Bajaj is the most trusted brand in India. Bajaj Bikes are known for their performance and its after-sales services. Bajaj bikes work on Digital Twin Spark Ignition (DTSI). It is a patented technology of Bajaj Auto. Bajaj bikes have twin spark plug engines. Some of the products in the Product Mix are :

Two Wheelers
Dominar 400
Dominar 250
Pulsar RS200
Pulsar NS200
Pulsar NS160
Pulsar 220F
Pulsar 150
Pulsar 150 Twin Disc
Pulsar 125 Neon
Pulsar 150 Neon
Pulsar 180F Neon
Avenger Cruise 220
Avenger Street 160
Platina 100
Platina 110H Gear
Bajaj CT100
Bajaj CT110
Three-Wheelers
RE Optima
RE Maxima
RE Compact
RE Compact 4 Stroke
Four Wheeler
Qute

Price in the Marketing Mix of Bajaj Auto – Bajaj Auto Marketing Mix

Bajaj Auto has sold 2219677 two-wheelers and 211041 commercial vehicles up to November 2020. Total Sales up to November 2020 is 2430718. Bajaj Finserv is financing Bajaj Vehicles. This also helps Bajaj Group to generate more revenue. Around 35% of the total sales of Bajaj Auto comes from exports. Middle-Income groups are the main targets of Bajaj Auto. Bajaj Auto has always used a competitive pricing strategy to compete with its competitors and to reach the masses Bajaj has a good network of dealers in India.

Bajaj Bikes has bikes for every segment and every need. Bajaj Auto is an automotive giant. Bajaj understands that if the price of the product is low people prefer it more. This is the mantra for Bajaj Auto’s Success. Bajaj Auto also ensures the after-sales service cost for its two-wheelers are low and affordable. The prices of Spare parts are reasonable. The prices of Disc brake pads, brake pads, air filters, headlights and taillight assemblies, Engine oil are very reasonable.

Place in the Marketing Mix of Bajaj Auto – Bajaj Auto Marketing Mix

Bajaj Auto Limited has expanded its business in seventy countries worldwide, including locations in Africa Latin America, and Asia. Bajaj Auto Limited has its Headquarter in Pune, Maharashtra. Bajaj Autommanufactures bikes, scooters and three wheelers. Bajaj Auto is exporting a large amount (47%) of vehicles to Africa.Bajaj Auto has its presence in Cambodia, Dubai, Argentina, Egypt, Liberia, Ghana, Peru, Nigeria, Mexico, Singapore, Sri Lanka, Tanzania, and Sudan.

In India Bajaj Auto Limited has three plants at Waluj (Aurangabad), Chakan (Pune) and Pant Nagar (Uttaranchal). At Akurdi Pune Bajaj Auto has established Research and Development Centre. Bajaj Auto has patented DTSi Engine. Bajaj Auto has a vast reach India through its managed large distribution chain. Bajaj Auto has appointed a large number of distributors to increase its reach worldwide.

Bajaj Auto Limited has set up a large network of dealers and service centres and is present at every corner of India. Bajaj Auto has a good distribution channel. Its Distribution channel consists of Carrying and Forwarding Agents, Stockists, Dealers and Distributors in order to maintain proper supply of its products. Spare Parts are also delivered through this distribution system. Spare parts are priced less to reduce the maintenance cost of the vehicles. Bajaj Auto is following aggressive penetration strategy to reach masses.

Promotion in the Marketing Mix of Bajaj Auto – Bajaj Auto Marketing Mix

Bajaj Auto Limited is one of India’s most preferred automobile manufacturers.  Bajaj Auto is promoting its products by every possible method. Bajaj Auto is advertising its products through TV Advertisements, Newspaper Advertisements, Internet Advertisements, Road Shows, Auto Shows, Mela Promotions, Promotions through hoardings. Bajaj Auto is also using online promotions through Facebook Marketing, Google Ads, Instagram Ads, etc.  Bajaj Auto is using both above the line and below the line marketing techniques to promote its products. Bajaj Auto is always eager to become the market leader for this Bajaj Auto has introduced new marketing techniques for creating awareness for its products.

The company influence and introduced its customer engagement campaign via many social media platforms like Twitter and Facebook pages. Bajaj Auto is also promoting its products through   Celebrity endorsements.  Amir Khan is the brand ambassador of Bajaj Auto. Bajaj Auto is also promoting its products as Make in India Initiatives. People now are preferring local companies as requested by our Prime Minister Shri Narendra Damodardas Modi under Make In India Initiative. Being a Local company Bajaj Auto is getting advantage of this initiative.

People in the Marketing Mix of Bajaj Auto – Bajaj Auto Marketing Mix

Chairman of Bajaj Auto is Mr. Rahul Bajaj, Vice-Chairman is Mr. Madhur Bajaj and Managing Director is Mr. Rajiv Bajaj. Bajaj Auto has a specialized team for Research and Development, Marketing, Inventory, Supply Chain, etc. Total 10000 employees are working hard for making Bajaj Auto a successful organization.

Process in the Marketing Mix of Bajaj Auto – Bajaj Auto Marketing Mix

Bajaj Auto is following an ethical process for manufacturing its vehicles. Bajaj Auto is having state of art infrastructure facilities at three locations in India. Bajaj Auto is following the Total Quality Management process of manufacturing.

Physical Evidence in the Marketing Mix of Bajaj Auto – Bajaj Auto Marketing Mix

Dealers, Sales Staff, and Staff contact experience are good at Bajaj Auto. Bajaj Auto is giving good services to its customers. Customers are brand loyal because of their service satisfaction. Bajaj Auto’s customer-centric approach makes it the most favorable brand. Bajaj Auto Locations are good. Customers are satisfied with the performance of Vehicles.

If you like This Article Please Like our Facebook Page PROJECTS4MBA

RELATED POST

Marketing Mix of Edelweiss Tokio Life Insurance [Ultimate Guide]

Marketing Mix of Edelweiss Tokio Life Insurance focuses on 4Ps Product, Price, Place and Promotion.  Edelweiss Tokio Life Insurance was established in 1996 by the joint venture of Edelweiss and Tokio Marine. Tokio Marine has a 26% stake and Edelweiss has a 74% stake in the company. Tokio Marine is a famous life insurance company from Japan and Edelweiss is one of the largest financial service companies.

marketing mix of edelweiss tokio life insurance

Products in the Marketing Mix of Edelweiss Tokio Life Insurance

Edelweiss Tokio has insurance plans for everyone. Some of the important products in the marketing mix of Edelweiss Tokio Life Insurance are listed below:

Term Insurance Plans

  • Edelweiss Tokio Protection Plan
  • Edelweiss Tokio Life Simply Protect
  • Edelweiss Tokio Life MyLife+
  • Edelweiss Tokio Life Total Secure+

Money Back Plans

  • Edelweiss Tokio Income Replacement
  • Edelweiss Tokio Life Milestones Plan

Unit Linked Insurance Plans – ULIPs

  • Edelweiss Tokio Life Wealth Ultima
  • Edelweiss Tokio Life Wealth Plus
  • Edelweiss Tokio Life Wealth Enhancement Ace Plan
  • Edelweiss Tokio Wealth Accumulation Accelerated Cover
  • Edelweiss Tokio Life Wealth Accumulation (Privilege) Plan
  • Edelweiss Tokio Wealth Accumulation (Cover Plus)

Health Insurance Plan

  • Edelweiss Tokio Life CritiCare+ Plan

Endowment Plans

  • Edelweiss Tokio Life Wealth Builder
  • Edelweiss Tokio Life POS Saral Nivesh
  • Edelweiss Tokio Life Milestones Plan
  • Edelweiss Tokio Life Guaranteed Income Plan
  • Edelweiss Tokio Life Dhan Labh
  • Edelweiss Tokio Life GCAP
  • Edelweiss Tokio Life Safe N Sure Plan
  • Edelweiss Tokio Life Single Pay Endowment Assurance Plan

Child Insurance Plan

  • Edelweiss Tokio Life EduSave Plan

Pension Plans

  • Edelweiss Tokio Life Cash Income
  • Edelweiss Tokio Life Easy Pension
  • Edelweiss Tokio Life Immediate Annuity Plan
  • Edelweiss Tokio Life Pension Plan
  • Edelweiss Tokio Life Triple Advantage Plan
  • Edelweiss Tokio Life Cashflow Protection Plus

Place in the Marketing Mix of Edelweiss Tokio Life Insurance

The secret to successful performance is each organisation’s service delivery strategy. Edelweiss Tokio Life Insurance has 51723 insurance advisors. Edelweiss Tokio Life Insurance has 121 branches and presents in 90 cities. Edelweiss is giving good commission to its advisors for promoting their products.Won Various awards like Best Life Insurer Award, also won an innovation award for wealth Ultima.Quality of Services and Schemes is the key to Edelweiss Tokio Life Insurance’s success. Edelweiss Tokio Life Insurance has a customer-centric approach. Edelweiss Tokio Life Insurance can launch new insurance partnerships with Banks for selling its policies. Recruitment of New Insurance Advisors can also bring business to the organization.

There are different channels for Edelweiss Tokio Life to market its policies. Edelweiss Tokio Life, through its subsidiaries, sells its strategies. Insurance Consultants are also employed by the agency. Bancassurance is also a channel for the products to be sold. In order to sell its products, Edelweiss Tokio Life has branches across the country. To explain the attributes and benefits of Edelweiss Tokio Life Insurance, marketing executives are trained. Edelweiss Tokio Life sells its policies through an online portal as well. Edelweiss Tokio Life provides a clear method of dispute arbitration.

Price in the Marketing Mix of Edelweiss Tokio Life Insurance

The premium depends on the cover and age of the insurer. The insurance premium of Edelweiss Tokio Life Insurance is very competitive. Various type of Premium payment options is available in Edelweiss Tokio Life Insurance. The insurance plans of Edelweiss Tokio Life Insurance offer Annual and Monthly Premium Payment Options.

Promotions in the Marketing Mix of Edelweiss Tokio Life Insurance

To promote its policies, Edelweiss Tokio is taking every possible action. For the marketing of its products and services, Edelweiss Tokio Insurance employs new techniques. The company is using Google Ad Network and other ad networks. For its advertising, the business uses Facebook Marketing, and Whatsapp Marketing. Edelweiss Tokio also advertises its products on TV, print papers, and magazine items. Company is taking every possible methods to promote its products.

If you like This Article Please Like our Facebook Page PROJECTS4MBA

Cite This Work

Referencing Style to cite this article:

Projects4MBA (June 16, 2021) Marketing Mix of Edelweiss Tokio Life Insurance [Ultimate Guide]. Retrieved from https://www.projects4mba.com/marketing-mix-of-edelweiss-tokio/5113/.
"Marketing Mix of Edelweiss Tokio Life Insurance [Ultimate Guide]." Projects4MBA - June 16, 2021, https://www.projects4mba.com/marketing-mix-of-edelweiss-tokio/5113/
Projects4MBA December 19, 2020 Marketing Mix of Edelweiss Tokio Life Insurance [Ultimate Guide]., viewed June 16, 2021,<https://www.projects4mba.com/marketing-mix-of-edelweiss-tokio/5113/>
Projects4MBA - Marketing Mix of Edelweiss Tokio Life Insurance [Ultimate Guide]. [Internet]. [Accessed June 16, 2021]. Available from: https://www.projects4mba.com/marketing-mix-of-edelweiss-tokio/5113/
"Marketing Mix of Edelweiss Tokio Life Insurance [Ultimate Guide]." Projects4MBA - Accessed June 16, 2021. https://www.projects4mba.com/marketing-mix-of-edelweiss-tokio/5113/
"Marketing Mix of Edelweiss Tokio Life Insurance [Ultimate Guide]." Projects4MBA [Online]. Available: https://www.projects4mba.com/marketing-mix-of-edelweiss-tokio/5113/. [Accessed: June 16, 2021]
RELATED POST

Marketing Mix of Amul [Detailed]

Marketing Mix of Amul focuses on 4Ps Product, Place, Price, and Promotion. Marketing Mix is a framework which helps Amul to decide its Product, Price, Promotion and Distribution Strategy.

Amul is definitely an “Amoolya” brand. Amoolya in Hindi means something which is invaluable or priceless. Amul has marked its presence in almost every corner of the country. Every product that is made of Milk is made of Amul Product. Due to an aggressive marketing strategy, Amul is able to create a good brand image. Amul is able to win the hearts of the Indian people. Amul is known to be a highly valued brand with an Indian origin. Amul was formed in 1946 to stop middlemen exploitation. It is a brand of the Gujarat Cooperative Milk Marketing Federation (GCCMF). Amul was formed because of a revolt of dairy farmers. Most of the leading Milk and Milk Product Manufacturers are competing with Amul. But aggressive marketing strategy has made Amul the number one player in the dairy industry and it is also said that the Marketing Mix of Amul has made it a number one player. In this article, we will analyze the Marketing mix of Amul.

marketing mix of amul

Product in the Marketing Mix of Amul – Amul Product Strategy

Amul has a strong product portfolio. Amul product range consists of Dairy products. Some of the Cash Cow Products are Amul Gold Milk, Amul Dahi, Amul cheese, Amul butter, and Amul Ice cream. Amul ice cream is ranked among the top 5 brands of the country.

Consumption of Amul Paneer, Amul Milk, and Amul Dahi is increasing day by day. Amul holds a market share of 26.2% in the packaged milk product segment. Amul Chocolates are good in taste and also preferred by a large population of the country.

Some of the Amul Products are:

  • Amul Milk
  • Amul Gold Milk
  • Amul Milk powders
  • Amul Cheese
  • Amul Kool and its variants
  • Amul ice cream
  • Amul Dahi
  • Amul Paneer
  • Amul Ghee
  • Amul mithai mate
  • Amul Nutramul
  • Amul chocolates
  • Amul Masti
  • Amul Buttermilk
  • Amul Flavoured Milk
  • Amul Shrikhand

Thus the product portfolio of Amul is constitutes of Milk and Milk Products. The main competitors of Amul are Dinshaws, Vadilal, and Havmor, Mother Dairy, etc. in the ice cream segment. In the milk segment, Amul is competing with Sanchi Dairy, Mother Dairy, Britannia, etc.

Price in the Marketing Mix of Amul – Amul Pricing Strategy

Amul has a competitive pricing policy. Some might call it penetrative pricing. But a penetrative pricing approach is used where the market has a high degree of competition and the player seeks to position himself on the market by providing products at lower prices. However in the case of Amul, when Amul launched, there were no national players and the dairy industry was unorganized. During the phase of launch itself, Amul had a goal to provide end-customers with their goods at the most reasonable prices. And the same vision is still in place today.

Today also, you will find that Amul butter, milk, and cheese are available at affordable prices keeping in mind the end customers. You may call these products costly, but the cost has nothing to do with Amul’s strategy. Remember that transportation costs, as well as storage and distribution costs, are very high in FMCG. Thus, as the cost of transportation, storage, and distribution has increased over the years, so has the cost of Amul products gone up. But considering their value for the average Indian consumer, these products are still priced at an affordable rate. Amul butter is preferred by a large population of the country because of its taste and aggressive and informative advertising strategy of Amul. Amul is no. 1 brand because of this pricing strategy.

Place in the Marketing Mix of Amul  – Amul Distribution Strategy

Amul has a large distribution network because its ice creams, milk, cheese, and butter are found nearly everywhere. Amul distribution strategy is one of the best distribution strategies of its kind. As it is an FMCG commodity, Amul practices the process of splitting the bulk. The initial production of the plant is in bulk. Later on, this volume gets smaller and smaller, and then a single slab of butter or ice cream is sold at the store site.

There are two separate networks by which Amul Delivery takes place. One is the distribution channel responsible for the collection of milk by dairy cooperatives. The other is the sales system responsible for delivering the finalized product to end-users.

In the procurement channel, the milk is acquired separately from farmers and transferred to cooperatives. The cooperatives then gather all this milk and give the bulk to the Amul manufacturing plant. Milk is used at the production plant to produce the finished goods.

Agents, manufacturers, suppliers and retailers are interested in the sales channel. There are also Amul shoppers who sell all the product in the Amul portfolio.

Structure of Distribution channel is as follows:

Amul Manufacturing Unit >>> C & F agent >>> Distributor >>> Dealer / Amul Outlets / Retailer >>> Customer

Amul >>> Modern retail

An Amul product goes through a lot of transportation. Distribution channel of Amul is such that its product reaches every corner of the country in the desired time.

Promotions in the Marketing Mix of Amul – Amul Promotion Strategy

Amul Girl is the center of attraction in the Promotion mix of Amul. Famous Amul girl was a creative idea of Mr. Eustace Fernande. Amul hoardings primarily feature recent happenings.

marketing mix of amul -1

The promotions of Amul are mainly for butter but for all the other products there are hardly any promotions. During the launch of products, Amul is known to go above the line and advertise milk, butter, etc. But overall, the main advertisement is below the line through outdoor, trade promotions, discount schemes and sales promotions.

The biggest possible reason for Amul’s exclusion from hardcore advertising is that Amul does not want to give out margins in advertising its goods. As per Amul, the overall advertising budget is 1% of the turnover. Over and beyond that, the cost of the goods would have a significant effect. And the key reason for Amul’s strong market position is its outstanding content combined with an inexpensive price. Thus the overall advertisements for Amul are not good. Amul is only focusing on the advertisement of Amul Butter.

Conclusion

Here we will conclude the marketing mix of Amul. It is found that Amul is following good marketing practices. Amul has a good distribution strategy. Amul is spending less on promotions. But companies can compete with Amul by doing aggressive promotions on social media, and modern social platforms. Amul has reached such great heights and competing with Amul is not as easy.

If you like this article please like our Facebook Page PROJECTS4MBA

Cite This Work

Referencing Style to cite this article:

Projects4MBA (June 16, 2021) Marketing Mix of Amul [Detailed]. Retrieved from https://www.projects4mba.com/marketing-mix-of-amul/4882/.
"Marketing Mix of Amul [Detailed]." Projects4MBA - June 16, 2021, https://www.projects4mba.com/marketing-mix-of-amul/4882/
Projects4MBA November 16, 2020 Marketing Mix of Amul [Detailed]., viewed June 16, 2021,<https://www.projects4mba.com/marketing-mix-of-amul/4882/>
Projects4MBA - Marketing Mix of Amul [Detailed]. [Internet]. [Accessed June 16, 2021]. Available from: https://www.projects4mba.com/marketing-mix-of-amul/4882/
"Marketing Mix of Amul [Detailed]." Projects4MBA - Accessed June 16, 2021. https://www.projects4mba.com/marketing-mix-of-amul/4882/
"Marketing Mix of Amul [Detailed]." Projects4MBA [Online]. Available: https://www.projects4mba.com/marketing-mix-of-amul/4882/. [Accessed: June 16, 2021]
RELATED POST

Marketing Mix of Kotak Life Insurance [Detailed]

Marketing Mix of Kotak Life Insurance focuses on 4Ps Product, Price, Place and Promotion. Kotak Life Insurance is a fully owned subsidiary of Kotak Mahindra Bank. Kotak Life Insurance was founded in the year 2001. Kotak Life Insurance is one of the leading Insurance companies in India. Kotak Life Insurance is in safe hands of Gurang Shah, president, Uday Kotak, Chairman and G. Murlidhar is the director.

Some of the main competitors are :

  • SBI Life
  • Bajaj Allianz Life Insurance
  • HDFC Life Insurance
  • Religare Life Insurance
  • Tata AIA Life Insurance
  • ICICI Prudential Life Insurance
  • Max Life Insurance
marketing mix of kotak life insurance

Product in the Marketing Mix of Kotak Life Insurance

Here we will discuss the product strategy and product mix in the Kotak Life Insurance marketing strategy.

Kotak Life Insurance has a customer-centric approach. The organization has long term savings and protection plans for different stages of life. The company has cost-effective products, good customer support, consistent growth in investments, and a fast claim settlement process.

Various policies under the umbrella of Kotak Life insurance are:

Term Insurance Plans

  • Kotak e-Term Plan
  • Kotak Term Plan

Money Back Plan

  • Kotak Life Premier Moneyback Plan

Pension Plans

  • Kotak Lifetime Income Plan
  • Kotak Premier Pension Plan

Endowment Plans

  • Kotak Smart Life Plan
  • Kotak Life Classic Endowment Plan
  • Kotak Life Premier Endowment Plan
  • Kotak Life Premier Income Plan

Unit Linked Insurance Plans – ULIPs

  • Kotak Ace Investment Plan
  • Kotak Single Invest Advantage Plan
  • Kotak Platinum Plan
  • Kotak Headstart Child Assure Plan
  • Kotak Invest Maxima

Whole Life Plan

  • Kotak Premier Life Plan

Price in the Marketing Mix of Kotak Life Insurance

By offering value for money, Kotak Life Insurance was a trend-setter in the insurance industry. The organization is committed to provide its customers with the best and highest value products at minimum prices. It has kept the premium insurance policy prices at normal level so that large number of people can take advantage of its insurance plans. Kotak is fairly faces strong competition from other existing well established insurance companies. To build its own loyal customer base, it has introduced fair pricing strategies and has kept its premium rate affordable and pocket-friendly. The company has introduced penetration strategy to penetrate India’s expanding insurance market.

Place in the Marketing Mix of Kotak Life Insurance

Kotak has about 20 million customers nationwide. Kotak Life Insurance has marked its presence in 167 cities and towns. It has a wide distribution chain that allows its consumers all over the world to supply their services. This covers insurance agent services, online insurance websites, insurance agents, direct networks and banking partner services. Kotak Life Insurance has about 99275 Insurance agents in India in 232 branches.

Kotak Life has multiple channels for selling its policies. Kotak Life is selling its policies through its branches. Insurance Advisors are also recruited by the company. Bancassurance is also a channel for selling its policies. Kotak Life has branches all over the country to market its products. Marketing Executives are trained to explain the features and benefits of Kotak Life Insurance. Kotak Life is also selling its policies through Online Channel. Kotak Life has a simple claim settlement process.

Promotion in the Marketing Mix of Kotak Life Insurance

Kotak Life Insurance differentiates itself as one of India’s most trusted brands. Kotak Life has taken several initiatives for creating positive awareness of the brand. Successful advertising campaigns have been launched on radio and several television channels through electrical media. Its advertisements appear in magazines, hoardings, and newspapers. It has an official website that provides interested parties with the related information.

Kotak Life is taking every possible measure to promote its policies. Kotak Life Insurance is using modern techniques for promoting its products and services. For Online advertisements the company is using Google Ad Network and other Ad Networks. The company is using Facebook Marketing, Whatsapp Marketing, and other online Marketing platforms for its promotion. Kotak Life is also advertising its products on Television, Print Media, and Magazines. It is also using Hoardings for promoting its products throughout the country. It is also promoting its products on various Social Media Platforms. These aggressive techniques are developing a good image among the customers of the company.

Insurance Advisors and Insurance executives are also promoting its insurance policies to the customers. Kotak is having a good customer centric approach and try to maintain good customer relations to retain customers.

If you like This Article Please Like our Facebook Page PROJECTS4MBA

Cite This Work

Referencing Style to cite this article:

Projects4MBA (June 16, 2021) Marketing Mix of Kotak Life Insurance [Detailed]. Retrieved from https://www.projects4mba.com/marketing-mix-of-kotak-life-insurance/4796/.
"Marketing Mix of Kotak Life Insurance [Detailed]." Projects4MBA - June 16, 2021, https://www.projects4mba.com/marketing-mix-of-kotak-life-insurance/4796/
Projects4MBA October 27, 2020 Marketing Mix of Kotak Life Insurance [Detailed]., viewed June 16, 2021,<https://www.projects4mba.com/marketing-mix-of-kotak-life-insurance/4796/>
Projects4MBA - Marketing Mix of Kotak Life Insurance [Detailed]. [Internet]. [Accessed June 16, 2021]. Available from: https://www.projects4mba.com/marketing-mix-of-kotak-life-insurance/4796/
"Marketing Mix of Kotak Life Insurance [Detailed]." Projects4MBA - Accessed June 16, 2021. https://www.projects4mba.com/marketing-mix-of-kotak-life-insurance/4796/
"Marketing Mix of Kotak Life Insurance [Detailed]." Projects4MBA [Online]. Available: https://www.projects4mba.com/marketing-mix-of-kotak-life-insurance/4796/. [Accessed: June 16, 2021]
RELATED POST

Marketing Mix of Birla Sun Life Insurance [Explained]

Marketing Mix of Birla Sun Life Insurance focuses on 4Ps Product, Price, Place and Promotion. Aditya Birla Sun Life Insurance is one of the largest insurance companies. It was founded in the year 2000 and was a joint venture between Sun Life Financial Inc and Aditya Birla Group, two trusted global brands.

marketing Mix of Birla Sun Life Insurance -1

Aditya Birla Sun Life Insurance is reportedly one of India’s top 10 private insurers and is known for creating innovative and benchmarks in this field. By incorporating its core values such as dedication, honesty, zeal, agility and seamlessness, its mission is to become a role model and pioneer in the financial services industry. Some of its notable competitors are as follows:

marketing Mix of Birla Sun Life Insurance
[Birla Sun Life Insurance is the Registered Trademark of its Registered Owner. It is used here for Educational Purpose Only.]

Products in the Marketing Mix of Birla Sun Life Insurance – Birla Sun Life Insurance Marketing Mix

Aditya Birla Sun Life Insurance is the first insurance provider to launch many creative schemes in India, such as Unit Linked Life Insurance Policies, the Free Look Period and the Business Continuity Scheme. Aditya Birla Sun Life Insurance handles the financial affairs of people and enterprises. The following are some of the key products in the product line:

Term Insurance Plans

  • BSLI Protect @ Ease Term Plan
  • BSLI Easy Protect Plan
  • BSLI Protector Plus Plan
  • BSLI Future Guard Plan

Money Back Plan

  • Birla Sun Life Insurance-Vision Money Back Plus Plan

Unit Linked Insurance Plans – ULIPs

  • BSLI Wealth Aspire Plan
  • BSLI Wealth Assure Plan
  • BSLI Fortune Elite Plan
  • BSLI Wealth Max Plan
  • BSLI Wealth Secure Plan

Health Plan

  • Birla Sun Life Insurance-Hospital Plus Plan

Endowment Plans

  • BSLI Guaranteed Future Plan
  • BSLI Vision Regular Return Plan
  • BSLI Vision Endowment Plus Plan
  • BSLI Savings Plan
  • BSLI Income Assured Plan
  • BSLI Vision Endowment Plan
  • BSLI Vision LifeIncome Plan
  • BSLI Vision LifeSecure Plan

Child Insurance Plan

  • Birla Sun Life Insurance-Vision Star Plan

Pension Plans

  • Immediate Annuity Plan
  • Empower Pension Plan
  • Empower Pension SP Plan

Place in the Marketing Mix of Birla Sun Life Insurance – Birla Sun Life Insurance Marketing Mix

The secret to successful performance is each organisation’s service delivery strategy. With its immense expertise and tremendous product range, Aditya Birla Sun Life Insurance supports individuals , groups and organisations by providing personalised insurance solutions.

Only because of the extensive delivery network that has extended over more than five hundred cities is this possible. It has an intricate network of 10,500 consultants, 600 offices and 150 partnership with banks, broker and corporate agent relationships. The organisation also works in countries such as Bermuda, Japan, China, and the UK, and its headquarters are located in Mumbai.

There are different channels for Aditya Birla Sun Life to market its policies. Aditya Birla Sun Life, through its subsidiaries, sells its strategies. Insurance Consultants are also employed by the agency. Bancassurance is also a channel for the products to be sold. In order to sell its products, Aditya Birla Sun Life has branches across the country. To explain the attributes and benefits of Aditya Birla Sun Life Insurance, marketing executives are educated. Aditya Birla Sun Life sells its policies through an online portal as well. Aditya Birla Sun Life provides a clear method of dispute arbitration.

Price in the Marketing Mix of Birla Sun Life Insurance – Birla Sun Life Insurance Marketing Mix

The premium depends on the cover and age of the insurer. As per the IRDA Rules, Aditya Birla Sun Life has competitive prices and advantages. The insurance plans of Aditya Birla Sun Life Insurance offer Annual and Monthly Premium Payment Options.

Promotions in the Marketing Mix of Birla Sun Life Insurance – Birla Sun Life Insurance Marketing Mix

To promote its policies, Aditya Birla Sun Life is taking every possible action. For the marketing of its products and services, Aditya Birla Sun Life Insurance employs new techniques. The company’s web ads using Google Ad Network and other ad networks. For its advertising, the business uses Facebook Marketing, and Whatsapp Marketing. Aditya Birla Sun Life also advertises its tv, print papers, and magazine items. It is now using Hoardings for the regional marketing of its goods. On multiple Social Media Sites, it also sells its goods. This vigorous tactics establish a positive reputation within the company’s clients.

As one of the most trusted brands, Birla Sun Life Insurance has won its prestige and this has been possible because of its employees. The organisation has staff incentive programmes to improve morale and loyalty as part of its advertising strategy.

It was the first business to sell policies through the internet. It provides benefits to draw more customers, including rebates, rewards, e-marketing and direct mail. Its brand ambassador was Cricketer Kapil Dev and cricketers such as Virendra Sehwag, Yuvraj Singh and Suresh Raina were roped in to act in its advertisements.

If you like This Article Please Like our Facebook Page PROJECTS4MBA

Cite This Work

Referencing Style to cite this article:

Projects4MBA (June 16, 2021) Marketing Mix of Birla Sun Life Insurance [Explained]. Retrieved from https://www.projects4mba.com/marketing-mix-of-birla-sun-life-insurance/4659/.
"Marketing Mix of Birla Sun Life Insurance [Explained]." Projects4MBA - June 16, 2021, https://www.projects4mba.com/marketing-mix-of-birla-sun-life-insurance/4659/
Projects4MBA October 4, 2020 Marketing Mix of Birla Sun Life Insurance [Explained]., viewed June 16, 2021,<https://www.projects4mba.com/marketing-mix-of-birla-sun-life-insurance/4659/>
Projects4MBA - Marketing Mix of Birla Sun Life Insurance [Explained]. [Internet]. [Accessed June 16, 2021]. Available from: https://www.projects4mba.com/marketing-mix-of-birla-sun-life-insurance/4659/
"Marketing Mix of Birla Sun Life Insurance [Explained]." Projects4MBA - Accessed June 16, 2021. https://www.projects4mba.com/marketing-mix-of-birla-sun-life-insurance/4659/
"Marketing Mix of Birla Sun Life Insurance [Explained]." Projects4MBA [Online]. Available: https://www.projects4mba.com/marketing-mix-of-birla-sun-life-insurance/4659/. [Accessed: June 16, 2021]
RELATED POST

Marketing Mix of Acko General Insurance

Marketing Mix of Acko General Insurance focuses on 4Ps Product, Price, Place and Promotion. Acko General Insurance is an Indian general insurance company. Established in November 2016 , the company acquired its licence from Insurance regulatory and development Authority of India (IRDAI) on September 2017. Acko follows an online-led model and thus all the company’s operations are offered through the digital platform. Varun Dua, who serves as the Chief Executive Officer, founded Acko General Insurance. As of 2018, Acko has raised 274 crore rupees ($42 million) from Amazon, SAIF Partners, Catamaran Ventures and Accel Partners. Motor insurance, in-trip domestic insurance and smartphone insurance are the retail products sold by Acko General Insurance.

marketing mix of Acko General Insurance

Products in the Marketing Mix of Acko General Insurance

Acko General Insruance has the following Products:

  • Car Insurance
  • Bike Insurance
  • Health Insurance
  • Mobile Repair
  • TV and Appliances Repair

Company has tieups with Ola, Redbus, MakemyTrip, Rapido Passenger, Goibibo, Dunzo Passenger, Zoom Car, Abhibus, Happay, DriveU for travel and trip protection plans.

For Health Plans company has tieup with Practo+ and Niyo.
For Loan Payment Protect Plan company has tieup with AU Bank, HDB, Lendingkart, Zestmoney, MoneyTap and Kreditbee.

Company has also launched plans for COVID-19 Protection for Amazon Sellers, Rapido, Captain, Zomato, Dunzo Rider, etc.

Place in the Marketing Mix of Acko General Insurance

Acko General Insurance has multiple channels for selling its policies. Acko is selling its policies through its branches. Insurance Advisors are also recruited by the company. Marketing Executives are trained to explain the features and benefits of Acko General Insurance. Acko is also selling its policies through Online Channel. Acko General Insurance has a simple claim settlement process.

Price in the Marketing Mix of Acko General Insurance

Premium depends on the Insurance Cover and Age of the Insurer. Acko General Insurance has competitive pricing and benefits as per the IRDA Regulations. Yearly and Monthly Premium Payment Options are available in the insurance policies of Acko General Insurance.

Promotion in the Marketing Mix of Acko General Insurance

Acko General Insurance is taking every possible measure to promote its policies. Acko General Insurance is using modern techniques for promoting its products and services. Online advertisements the company is using Google Ad Network and other Ad Networks. The company is using Facebook Marketing, Whatsapp Marketing, Tiktok Marketing for its promotion. Acko General Insurance is also advertising its products on Television, Print Media, and Magazines. It is also using Hoardings for promoting its products throughout the country. It is also promoting its products on various Social Media Platforms. These aggressive techniques are developing a good image among the customers of the company. Acko is also a Official Insurance Partner of Delhi Capitals

If you like This Article Please Like our Facebook Page PROJECTS4MBA

Cite This Work

Referencing Style to cite this article:

Projects4MBA (June 16, 2021) Marketing Mix of Acko General Insurance. Retrieved from https://www.projects4mba.com/marketing-mix-of-acko-general-insurance/4655/.
"Marketing Mix of Acko General Insurance." Projects4MBA - June 16, 2021, https://www.projects4mba.com/marketing-mix-of-acko-general-insurance/4655/
Projects4MBA October 4, 2020 Marketing Mix of Acko General Insurance., viewed June 16, 2021,<https://www.projects4mba.com/marketing-mix-of-acko-general-insurance/4655/>
Projects4MBA - Marketing Mix of Acko General Insurance. [Internet]. [Accessed June 16, 2021]. Available from: https://www.projects4mba.com/marketing-mix-of-acko-general-insurance/4655/
"Marketing Mix of Acko General Insurance." Projects4MBA - Accessed June 16, 2021. https://www.projects4mba.com/marketing-mix-of-acko-general-insurance/4655/
"Marketing Mix of Acko General Insurance." Projects4MBA [Online]. Available: https://www.projects4mba.com/marketing-mix-of-acko-general-insurance/4655/. [Accessed: June 16, 2021]
RELATED POST

Marketing Mix of Allianz – Allianz Marketing Mix [Detailed]

In this article, we will discuss the Marketing Mix of Allianz. Allianz SE is a multinational company involved in insurance and asset management business. It is among the top companies in the world. It is ranked as the largest financial service company according to Forbes Magazine.

swot analysis of Allianz

Products in the Marketing Mix of Allianz

Unit Linked Plans, Retirement Plans, Term Life Insurance, Child Insurance, Health Insurance, etc. Allianz is having good insurance policies. Claim Settlement of Allianz is also good. Some of the products and services offered by Allianz are :

  • Unit linked Policy [ULIP]
  • Asset Management Services
  • Banking and Finance Services
  • Home Insurance and Shop Insurance
  • Accidental insurance
  • Health insurance
  • Life insurance
  • Child plans
  • Pension Plans
  • Term Insurance

Place in the Marketing Mix of Allianz

Allianz has offices in more than 70 countries around the world. They have selected partners in other locations, enabling them to serve clients in more than 160 countries around the world. In India, Allianz has worked with Bajaj Finserv Limited to bring its international services and expertise to the country. Bajaj Allianz has a national network of 200 cities spread throughout the country from Surat to Siliguri and Kashmir to Thiruvananthapuram.

Its headquarters are in Pune, Maharashtra, and all the offices are interconnected.

Since it has a good network of offices around the world, its customers can easily and conveniently access its services.

swot analysis of allianz - 1

Price in the Marketing Mix of Allianz

Premium is very competitive and the charges in Unit Linked Insurance Plans are also good. Term Insurance plans premium is also good. By offering value for money, Allianz Life Insurance was a trend-setter in the insurance industry. The organization is committed to provide its customers with the best and highest value products at minimum prices. It has kept the premium insurance policy prices at normal level so that large number of people can take advantage of its insurance plans. Allianz is fairly faces strong competition from other existing well established insurance companies. To build its own loyal customer base, it has introduced fair pricing strategies and has kept its premium rate affordable and pocket-friendly. The company has introduced penetration strategy to penetrate expanding insurance market.

Promotion in the Marketing Mix of Allianz

The publicity and advertisement plan of the Allianz corporate campaign is as follows:

Allianz seeks to attract new clients and maintain existing ones by delivering newer products and services, thus separating itself from its rivals.Some of the ways of Promotions are:

  • Sponsorships: Sponsorship plays a significant part in the advertising blend. Previously, Allianz called the stadium in Munich through a Facebook contest in which its global customers (approximately 80 million) were offered choices to choose from and the most proposed alternative was selected as the stadium name. That is how Allianz has served its customers. The company is also sponsoring other international sports platforms, such as Paralympics Games, Formula One, and Golf.
  • Brand Ambassadors: Allianz has established an arrangement with the musician Lang, who is employed as his brand ambassador. Allianz uses national and international sponsorships to form communities according to their interests and passions. Allianz believes that people play an important role in Allianz ‘s business in encouraging individuals to make progress in their lives. That’s why Allianz is heavily involved in sponsoring sporting events around the globe.
  • Advertisements: Allianz engages in TV commercials to communicate its latest offerings to its target audience. Ads are also seen on the News, Information and Sports networks. Digital Media and Print Advertising are also used in newspapers.
  • Mobile App: Allianz launched a mobile app that was an instant tax calculator that allowed users to calculate their tax liability. There was a 360-degree advertisement to market the app.
  • The company is also using social media platforms like Facebook, Twitter, Instagram to promote its business.
  • The company is also using Advertising Networks like Adsense and Meda.net and other video advertising platforms.

People in the Marketing Mix of Allianz

Allianz focuses a great deal on the people it interacts with, whether employees or customers. Employees play a key role in the services industry. Over 142,000 employees working with Allianz and providing services to 85 million clients worldwide. Employees have diverse backgrounds in order to provide services to customers with over 100 different job profiles. Workplace engagement is received on a daily basis to boost employee retention, commitment, activism, and pride. Allianz employees propose the best policies on the client’s needs, which also strengthens customer satisfaction.

Process in the Marketing Mix of Allianz

User requests should be answered easily. Allianz frees all procedures without any delay and limited documentation and formalities. The users are connected with the recently introduced offerings through its smartphone app. Both systems are streamlined and thus better support the customer.

Physical Evidence in the Marketing Mix of Allianz

Allianz maintains branches in big cities and towns around the country at accessible sites. The workplace setting with a friendly climate is given particular importance. The counters are placed in such a way as to provide prompt services without delay. The offices have a sleek look and sound with waiting rooms with sofas and newspapers. This covers the whole product spectrum of Allianz.

If you like This Article Please Like our Facebook Page PROJECTS4MBA

Cite This Work

Referencing Style to cite this article:

Projects4MBA (June 16, 2021) Marketing Mix of Allianz – Allianz Marketing Mix [Detailed]. Retrieved from https://www.projects4mba.com/marketing-mix-of-allianz/4457/.
"Marketing Mix of Allianz – Allianz Marketing Mix [Detailed]." Projects4MBA - June 16, 2021, https://www.projects4mba.com/marketing-mix-of-allianz/4457/
Projects4MBA August 7, 2020 Marketing Mix of Allianz – Allianz Marketing Mix [Detailed]., viewed June 16, 2021,<https://www.projects4mba.com/marketing-mix-of-allianz/4457/>
Projects4MBA - Marketing Mix of Allianz – Allianz Marketing Mix [Detailed]. [Internet]. [Accessed June 16, 2021]. Available from: https://www.projects4mba.com/marketing-mix-of-allianz/4457/
"Marketing Mix of Allianz – Allianz Marketing Mix [Detailed]." Projects4MBA - Accessed June 16, 2021. https://www.projects4mba.com/marketing-mix-of-allianz/4457/
"Marketing Mix of Allianz – Allianz Marketing Mix [Detailed]." Projects4MBA [Online]. Available: https://www.projects4mba.com/marketing-mix-of-allianz/4457/. [Accessed: June 16, 2021]
RELATED POST

Marketing Mix of HDFC Life Insurance [step by step Guide]

This article focuses on the Marketing Mix of HDFC Life Insurance. HDFC Life Insurance is a venture between HDFC Ltd. and Standard Life. HDFC Ltd has a stake of 51.4% and Standard Life has a stake of 12.3% and rest of the stake. Remaining equity are hold by public. HDFC Life Insurance Limited has started its operations in the year 2000. HDFC Life Insurance Limited is the market leader in a Private Life Insurance company followed by SBI Life, and Bajaj Allianz. Some of the main competitors are :

  • SBI Life
  • Bajaj Allianz Life Insurance
  • HDFC Life Insurance
  • Religare Life Insurance
  • Sahara Life Insurance
  • Tata AIA Life Insurance

Product in the Market Mix of HDFC Life Insurance

HDFC Life Insurance has a customer-centric approach. The organization has long term savings and protection plans for different stages of life. The company has cost-effective products, good customer support, consistent growth in investments, and a fast claim settlement process.

Products of HDFC Life Insurance are:

Term Insurance Plans

  • HDFC Life Click 2 Protect Plus
  • HDFC Life Click 2 Protect 3D Plus Plan

Money Back Plan

  • HDFC Life Super Income Plan

Unit Linked Insurance Plans – ULIPs

  • HDFC Life Click 2 Wealth Plan
  • HDFC Life Classic One Plan
  • HDFC Life Sampoorn Nivesh
  • HDFC Life Click 2 Invest Plan Review
  • HDFC Life Capital Shield Plan
  • HDFC Life Pro Growth Plus Plan
  • HDFC Life Single Premium Pension Super Plan
  • HDFC Life Pro Growth Maximiser Plan
  • HDFC Life Pro Growth Flexi Plan
  • HDFC Life Smart Woman Plan
  • HDFC SL Pro Growth Super II
  • HDFC Life Young Star Super Premium
  • HDFC SL Crest

Whole Life Plan

  • HDFC Sampoorn Samridhi Plus

Endowment Plans

  • HDFC Life Pragati Plan
  • HDFC Life Super Savings Plan
  • HDFC Life Uday
  • HDFC Life Classicassure Plus Plan
  • HDFC Life Sanchay

Child Insurance Plan

  • HDFC Life YoungStar Udaan

Pension Plans

  • HDFC Life Assured Pension Plan
  • HDFC Life Guaranteed Pension Plan
  • HDFC Life Click 2 Retire Plan
  • HDFC Life New Immediate Annuity Plan
  • HDFC Life Personal Pension Plus Plan

Health Plans

  • HDFC Life Easy Health Plan
  • HDFC Life Cancer Care
  • HDFC Life Cardiac Care Plan
  • HDFC Life Click 2 Protect Health

Place in the Market Mix of HDFC Life Insurance

HDFC Life Insurance offers its coverage in every part of India and has a H.Q. in Mumbai, Maharashtra. It has a wide distribution chain that allows its consumers all over the world to supply their services. This covers insurance agent services, online insurance websites, insurance agents, direct networks and banking partner services. HDFC Life Insurance’s multichannel network has spread to almost nine hundred and eighty cities and towns in India, and is managed through an estimated three hundred and ninety-eight branches. The staff comprises two lakh financial consultants to effectively meet growing customer demand by providing individual attention. HDFC Life Insurance has formed a liaison bureau in Dubai.

HDFC Life has multiple channels for selling its policies. HDFC LIFE is selling its policies through its branches. Insurance Advisors are also recruited by the company. Bancassurance is also a channel for selling its policies. HDFC Life has branches all over the country to market its products. Marketing Executives are trained to explain the features and benefits of HDFC Life Insurance. HDFC LIFE is also selling its policies through Online Channel. HDFC Life has a simple claim settlement process.

Price in the Market Mix of HDFC Life Insurance

By offering value for money, HDFC Life Insurance was a trend-setter in the insurance industry. The organization is committed to provide its customers with the best and highest value products at minimum prices. It has kept the premium insurance policy prices at normal level so that large number of people can take advantage of its insurance plans. HDFC is fairly faces strong competition from other existing well established insurance companies. To build its own loyal customer base, it has introduced fair pricing strategies and has kept its premium rate affordable and pocket-friendly. The company has introduced penetration strategy to penetrate India ‘s expanding insurance market.

Promotions in the Market Mix of HDFC Life Insurance

HDFC Life Insurance differentiates itself as one of India’s most trusted brands. It has put its emphasis on CSR activities to improve the social conditions. It was the recipient of several awards for the various plans. Sar Utha Ke Jiyo is one of its most famous taglines, and has generated high visibility among consumers. HDFC Life has taken on several promotional activities to create positive awareness of the brand. Successful advertising campaigns have been launched on radio and several television channels through electrical media. Its advertisements appear in magazines, hoardings, and newspapers. It has an official website that provides interested parties with the related information.

HDFC Life is taking every possible measure to promote its policies. HDFC Life Insurance is using modern techniques for promoting its products and services. For Online advertisements the company is using Google Ad Network and other Ad Networks. The company is using Facebook Marketing, Whatsapp Marketing, and other online Marketing platforms for its promotion. HDFC Life is also advertising its products on Television, Print Media, and Magazines. It is also using Hoardings for promoting its products throughout the country. It is also promoting its products on various Social Media Platforms. These aggressive techniques are developing a good image among the customers of the company.

Insurance Advisors and Insurance executives are also promoting its insurance policies to the customers. HDFC is having a good customer centric approach and try to maintain good customer relations to retain customers.

If you like This Article Please Like our Facebook Page PROJECTS4MBA

Cite This Work

Referencing Style to cite this article:

Projects4MBA (June 16, 2021) Marketing Mix of HDFC Life Insurance [step by step Guide]. Retrieved from https://www.projects4mba.com/marketing-mix-of-hdfc-life-insurance-step-by-step-guide/4450/.
"Marketing Mix of HDFC Life Insurance [step by step Guide]." Projects4MBA - June 16, 2021, https://www.projects4mba.com/marketing-mix-of-hdfc-life-insurance-step-by-step-guide/4450/
Projects4MBA August 5, 2020 Marketing Mix of HDFC Life Insurance [step by step Guide]., viewed June 16, 2021,<https://www.projects4mba.com/marketing-mix-of-hdfc-life-insurance-step-by-step-guide/4450/>
Projects4MBA - Marketing Mix of HDFC Life Insurance [step by step Guide]. [Internet]. [Accessed June 16, 2021]. Available from: https://www.projects4mba.com/marketing-mix-of-hdfc-life-insurance-step-by-step-guide/4450/
"Marketing Mix of HDFC Life Insurance [step by step Guide]." Projects4MBA - Accessed June 16, 2021. https://www.projects4mba.com/marketing-mix-of-hdfc-life-insurance-step-by-step-guide/4450/
"Marketing Mix of HDFC Life Insurance [step by step Guide]." Projects4MBA [Online]. Available: https://www.projects4mba.com/marketing-mix-of-hdfc-life-insurance-step-by-step-guide/4450/. [Accessed: June 16, 2021]
RELATED POST

Marketing Mix of Infosys – Infosys Marketing Mix




Marketing Mix of Infosys focuses on 4P’s Product, Place, Price, and Promotions. Infosys Limited is a multinational information technology, consultancy, and IT outsourcing company. Infosys has its office in Bangalore, and Karnataka, India.

Infosys has been ranked as the second-largest Indian software company with annual revenue of 12.78 Billion US Dollars in the year 2020. It is ranked in top revenue-based public companies in the world. With total assets of US$12.26 billion. Infosys is rated “A” by a Credit Rating company Standard & Poors.

marketing mix of infosys

Infosys was established in the year 1981 by its founder R. Narayan Murthy, N.S. Raghavan and Nandan Nilekani. Infosys has an employee base of 242,371. Infosys is one of the largest employers in the country.  And Infosys was also ranked as the largest employer in the US for H1- Business Visas.

Its main rivals are Wipro, Cognizant, and TCS.

Product in the Marketing Mix of Infosys – Infosys Marketing Mix

Infosys is a leading powerhouse of the IT Sector in providing IT-based business solutions to the customers. Infosys is providing offshore outsourcing & software services. Infosys offers assistance for designing new services and products, but also involved in innovations and formulating market strategies for its clients and in the digital world. Infosys clients are from various industries like:

  • Utilities
  • Transport Services
  • Motorcycle Manufacturers
  • Materials
  • Lifestyles
  • Business
  • Entertainment and Details
  • Insurance policy
  • Hospitality & Leisure
  • Haute Technology
  • Power
  • Healthcare
  • Discrete fabrication
  • Finance Companies
  • Manufacturing
  • Defense and Aeronautics

One of its popular products is Finacle, which is a universal banking solution with different retail & corporate banking modules.

Its main services and products include:

  • NIA – Next Generation Integrated Artificial Intelligence Platform.
  • Infosys Consulting-a consulting service for global management.
  • Infosys Information Platform (IIP)-Platform for Analytics.
  • EdgeVerve Systems which includes Finacle global banking software.
  • Cloud Computing
  • Technologies Services
  • Digital Marketing.
  • Communication Systems
  • Software development
  • Software Maintenance
  • Independent validation services.

Place in the Marketing Mix of Infosys – Infosys Marketing Mix

Place of Operations is very important for a company like Infosys. It is one of the top IT companies based in Bengaluru,  Karnataka. Infosys has fulfilled the demands of a large number of clients spread across more than 50 countries around the world. Infosys has started its first US-based office in 1987 and in 1996 started its first European office in Milton Keynes, United Kingdom.

Infosys has offices throughout the world some of the offices are in Belgium, Australia, Sweden, China, Japan, and Germany. It has a broad global footprint which includes services through development centers and marketing and sales offices.

marketing mix of infosys-2

Infosys has also acquired many companies like

  • McCamish Systems, USA
  • Skava, USA
  • Noah-Consulting, USA
  • Skytree, USA
  • WongDoody, USA
  • Simplus, USA-AU
  • Expert Information Services, Australia
  • Portland Group, Australia
  • Panaya, Israel
  • Lodestone Holding AG, Switzerland
  • Brilliant Basics, UK
  • Stater N.V., Netherlands
  • Fluido Oy, Finland

Price in the Marketing Mix of Infosys – Infosys Marketing Mix

Infosys has been ranked as the second-largest Indian software company with annual revenue of 12.78 Billion US Dollars in the year 2020. It is ranked in top revenue-based public companies in the world. With total assets of US$12.26 billion. Infosys is rated “A” by a Credit Rating company Standard & Poors. Infosys has adopted a fair price strategy so customers can find their rates reasonably priced.

Infosys has competitive advantages as it is based in India. The Indian economy has high skill rates and comparatively low labor costs. Infosys has always been interested in expanding its business far and wide and has therefore adopted a penetration pricing to reach a wider margin for its products and services. The company has to face regular competition from its rival companies and has therefore kept lower rates for various services and products than its competitors. It offers quality products and services at realistic rates and high-class services.

Promotions in the Marketing Mix of Infosys – Infosys Marketing Mix

Infosys is India’s most trusted and popular brand and has an impressive marketing campaign for products and services that are advertised in both electronic and print media. The business also has a web site that provides important information and data to interested parties. Infosys is included in the top 20 green-enterprises. Infosys has created an Infosys Foundation as a CSR initiative. Infosys foundation helps people in areas of rural development, education, culture, child labor, women empowerment, cleanliness, and health care.

Infosys has tie-up with most of the engineering colleges and IITs to recruit fresh brains. Infosys is promoting its products through Online Social Media and has a presence on Facebook, LinkedIn, etc. Infosys is always exploring opportunities between Infosys and academia through student trips, speaking engagements, and case studies. Infosys Limited which collaborated with several international and domestic universities and Institutes for innovation and research.

Infosys organizes Award Function for Indian Scientists, engineers, researchers and Social workers. 65 lakh rupees is the prize money given to the gold medallist of the event. Infosys is a respected global company due to its workplace friendly practices. Infosys has won National Awards for Excellence in Corporate Governance in the year 2000. Infosys was awarded as a Best Employer India for the year 2001. It was recognized as the most respected company of Indian origin.

If you like This Article Please Like our Facebook Page PROJECTS4MBA

Cite This Work

Referencing Style to cite this article:

Projects4MBA (June 16, 2021) Marketing Mix of Infosys – Infosys Marketing Mix. Retrieved from https://www.projects4mba.com/marketing-mix-of-infosys/2173/.
"Marketing Mix of Infosys – Infosys Marketing Mix." Projects4MBA - June 16, 2021, https://www.projects4mba.com/marketing-mix-of-infosys/2173/
Projects4MBA July 7, 2020 Marketing Mix of Infosys – Infosys Marketing Mix., viewed June 16, 2021,<https://www.projects4mba.com/marketing-mix-of-infosys/2173/>
Projects4MBA - Marketing Mix of Infosys – Infosys Marketing Mix. [Internet]. [Accessed June 16, 2021]. Available from: https://www.projects4mba.com/marketing-mix-of-infosys/2173/
"Marketing Mix of Infosys – Infosys Marketing Mix." Projects4MBA - Accessed June 16, 2021. https://www.projects4mba.com/marketing-mix-of-infosys/2173/
"Marketing Mix of Infosys – Infosys Marketing Mix." Projects4MBA [Online]. Available: https://www.projects4mba.com/marketing-mix-of-infosys/2173/. [Accessed: June 16, 2021]




RELATED POST


Marketing Mix of Life Insurance Corporation of India (LIC)




This article is on the Marketing Mix of Life Insurance Corporation of India (LIC) – LIC Marketing Mix.

Life Insurance Corporation of India (LIC) is an Indian Insurance and investment company. LIC is having the largest customer base. Customers have full trust in the LIC of India. LIC is the largest insurance company is an Indian company and is headquartered in Mumbai, India.

The Life Insurance Corporation (LIC) was established in the year 1956 after the Indian Parliament passed an act to nationalize the private insurance industry. Nearly 245 insurance companies have been combined to create this LIC company. The insurance sector has been under the monopoly of LIC since that time until the year 2000. The main objective of the nationalization of LIC-Life Insurance was to eliminate the risk of loss and to provide money protection to the policyholder.

marketing mix of life insurance corporation of india

Let’s discuss Marketing Mix of Life Insurance Corporation (LIC) – LIC Marketing Mix:

Product in the Marketing Mix of Life Insurance Corporation (LIC) – LIC Marketing Mix

Life Insurance Corporation (LIC) has designed a number of products in accordance with the requirements of the common people. Insurance is mainly taken out for the purpose of providing the bread and butter to the family after the death of the Insurer due to accidents or disasters. Life Insurance Corporation (LIC) provides different insurance options to its customers, such as the following-

In addition, various pension plans, annuities, group insurance, special plans, and unit-linked plans are also in operation for the benefit of customers. Life Insurance Corporation (LIC) has also introduced a range of products particularly for children, senior citizens, women, and the disabled. LIC also has programs for individuals on the poverty line.

Place in the Marketing Mix of Life Insurance Corporation of India (LIC) – LIC Marketing Mix

Life Insurance Corporation (LIC) is the market leader in the insurance industry of India hence the distribution of its services is carried out through a number of channels – direct and indirect. Numerous routes are used to meet potential customers. The most important and basic channel member was the “Insurance Agent.” The aim of the LIC Company is to take various innovative routes to reach the farthest and most remote corner. Physical distribution of service products, which in this case are funds and support at the right time and place, is an important factor in the marketing policy of Life Insurance Corporation (LIC):

Term Insurance Plans

  • LIC Jeevan Amar Plan
  • LIC Tech Term Plan

Money-Back Plans

  • LIC Jeevan Shiromani
  • LIC Bima Shree Plan
  • LIC New Money Back Plan – 20 Years
  • LIC New Money Back Plan – 25 Years

Unit Linked Insurance Plans – ULIPs

  • LIC SIIP Plan
  • LIC Nivesh Plus Plan

Health Plans

  • LIC Jeevan Arogya Plan
  • LIC Cancer Cover Plan

Endowment Plans

  • LIC Aadhaar Shila Plan
  • LIC Aadhaar Stambh
  • LIC Jeevan Labh Plan
  • LIC New Bima Bachat Plan
  • LIC Jeevan Lakshya Plan
  • LIC New Jeevan Anand Plan
  • LIC Single Premium Endowment Plan
  • LIC New Endowment Plan

Child Insurance Plans

  • LIC New Children’s Money Back Plan
  • LIC Jeevan Tarun Plan

Pension Plans

  • Pradhan Mantri Vaya Vandana Yojana (PMVVY)
  • LIC Jeevan Shanti Plan

Place in the Marketing Mix of Life Insurance Corporation of India (LIC) – LIC Marketing Mix

The distribution chain of the company consists of agents, brokers, development officers, marketing executives, finance-related retail outlets, branch offices, partnerships with banks, distributors, and corporate agencies. Currently, there are eight zoning offices in LIC, 109 divisional offices, 2,048 branches, 992 satellite offices, and numerous corporate offices. It also has a network of 242 corporate agents, 1,337,064 individual agents, 79 referral agents, 98 brokers, and 42 banks.

Price in the Marketing Mix of Life Insurance Corporation of India (LIC) – LIC Marketing Mix

An effective pricing policy is a very significant factor in the efficient operation of the insurance company because it is the pricing policy that influences the sales volume of the company. In reality, price is the value provided by the seller for the commodity. For any LIC-Life Insurance policy, the policyholder must pay a premium that is paid either annually, half-yearly, quarterly or, in some cases, monthly. The management shall take the decision to set the premium for each policy relating to a specific time.

A complete market analysis is carried out and information on various facts is collected, such as how much money an individual can afford for a particular scheme and the economic and financial condition of the market at that particular time. These data help to develop fair and reasonable pricing policies. The management also makes decisions on the pricing of the premium mode, the return on investment, the premium level, the interest on loans, and commissions. If you compare LIC products offer value for money when compared to other insurance companies. With its excellent brand value and service quality, the consumer can get maximum value on the basis of the price charged for the LIC product.

Promotion in the Marketing Mix of Life Insurance Corporation of India (LIC) – LIC Marketing Mix

The Life Insurance Corporation (LIC) promotion strategy is very simple and straightforward. Its main aim is to inform consumers about its different policies and about its brand. In order to do so, steps have been taken, such as personal sales, exhibitions, sponsoring events, advertising, and new schemes. Bags, calendar diaries are distributed as gifts and incentives to policyholders. Advertisements are seen on TVs, magazines, billboards.

A mobile van for advertising travels through rural areas, creating awareness of the company.

marketing mix of life insurance corporation of india -2

Life Insurance Corporation (LIC) has its own website and where all the detailed information on any possible queries is provided to the consumer. The majority of advertising is directed towards insurance that can be purchased by the common man in order to increase the reach of the company and, at the same time, the sale of the product. Thus, the introduction of products and the retention of products in the minds of customers are the main objectives of the Life Insurance Corporation promotions.

marketing mix of life insurance corporation of india -1

 

If you Want to read more articles on Marketing Mix – Click Here

If you like This Article on Business Model of LinkedIn Please Like our Facebook Page PROJECTS4MBA




RELATED POST