PwC Marketing Mix

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Marketing Mix of PwC analyses the brand/company which covers 4Ps (Product, Price, Place, Promotion) and explains the PwC marketing strategy. The article elaborates the pricing, advertising & distribution strategies used by the company.

Let us start the PwC Marketing Mix:

Product:

PricewaterhouseCoopers or PwC is one of the top consulting companies in the world. PwC is a world’s top professional service firm and it offers wide range of services like:

a. Accounting advisory: Some of the service offered by PwC in this segment are accounting, financial reporting and valuation, management consulting, risk management.

b. Consulting. Some of the service offered in this segment are cyber security, digital services, financial risk and regulators, forensic services, strategy consulting etc.

c. Deals: Some of the PwC services offered in this segment are merger and acquisition, joint venture, spin offs, strategic alliance.

d. Audit and Assurance: Some of the service offered in this segment are financial statement audit, internal audit, regulatory compliance, capital market, risk assurance, IFRS reporting and many more.

e. People & organization: Some of the service offered in this segment are global pension, global employee mobility, HR related management etc.

f. IFRS reporting: PricewaterhouseCoopers offers proper application guidance for its tools and review on IFRS.

g. Tax and Legal: Some of the service offered in this segment are Entity governance and compliance, immigration, international business reorganization, M&A, global taxes, tax dispute resolution, transfer pricing, value chain transformation etc.

These services are offered to various industries like aerospace and defence, automotive, education, chemical, metal, technology etc.


Image: Wikimedia


Price:

PwC is a leading service firm which operates in business to business market. PricewaterhouseCoopers offers its services to nearly all sectors and its clients base include government bodies, enterprises, large corporations, agencies etc. The pricing policy in the marketing mix of PwC can be divided into 2 categories. PricewaterhouseCoopers offers premium pricing policy for its top clients and large projects depending on the qualitative service that the firm has to offer. For some clients, PwC uses competitive pricing policy to meet the client’s approval and capability. PwC has a dedicated team which studies market condition and factors like size and duration of project, location of project etc. before deciding the pricing strategy.


Place:

PwC is the largest professional service firm operating globally in 150+ countries like Poland, Melbourne, Warsaw, Lima etc. It is also the largest internationally operating accounting firm. The company has more than 2.23 lakh employees globally. PricewaterhouseCoopers also operates from India with its presence spread across major cities in India like Bengaluru, Mumbai, Delhi, Chennai, Ahmedabad etc. In the year 2016, PwC provided professional services to 422 companies out of the Fortune Global 500 companies. PwC operates like a set of independent firms from all parts of the world but each follow same policy and business structure. PricewaterhouseCoopers has got its own website which are country specific and offers different services. PwC also offers many financial tools and blogs that can be accessed online.


Promotion:

PwC is a leading service firm which operates in business to business market. It has got a high brand awareness for its excellent service records. PricewaterhouseCoopers uses a wide range of promotional activities in its marketing mix to keep a fresh image in the mind of its clients. PwC periodically shares its press releases, business articles, market research report, market alerts on social media like Facebook, twitter etc. These articles and news blogs can also be accessed through company’s own website. PricewaterhouseCoopers also organizes and takes part in giving lectures across universities and attending business conferences around the world like Economic forum, tax and accounting conference etc. Also the company uses its logo for brand distinction.


Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of PricewaterhouseCoopers (PwC).


People:

PricewaterhouseCoopers operates in over 150+ countries and employees more than 2.23 lakh people globally. PwC invests a lot in its people as a part of its marketing mix to reach them at full potential. PwC runs various team based learning activities, skill building programmes and other technical trainings for supporting and upgrading knowledge of its employees. PricewaterhouseCoopers also maintains and promotes diversity in its organization. PwC pays special attention to maintain gender diversity with its programs like The Gender Agenda Blog and The Female Millennial. Also the pay scale of its employees are slightly above the industry average which helps the firm to control attrition rate. There are other employee’s favourable policies like flexible working hours, sabbatical, flexible leave policy etc.


Process:

The process adopted by PwC is a standardized process just like the processes used by other members of Big four auditing firms. PricewaterhouseCoopers has its own framework for strategic business decision and handling departments like marketing, sales etc. PwC has a dedicated team which studies market condition and factors like size and duration of project, location of project etc. before deciding the pricing strategy to be charged to its clients. PwC also uses technology for its business advantage. PwC maintains an information system for handling its internal business operations and also clients related information. PwC also maintains its own website which can be used by clients to access various tools and other guidance and support.


Physical Evidence:

PwC is the top leading professional service firm and also a leader of the Big Four auditor companies of world. PwC operates in 157 countries and has more than 2.23 lakh employees. In the year 2016, PwC provided professional services to 422 companies out of the Fortune Global 500 companies. PricewaterhouseCoopers operates like a set of independent firms from all parts of the world but each follow same policy and business structure. All the offices of PwC acts as a physical evidence. PwC also maintains its own website which are also country specific and can be used by the customers to know about the company and its services. The company also publishes press releases, blogs and other news for its customers that can be accessed online. PwC has also got its operation in India across major cities like Delhi, Mumbai, Chennai, Bengaluru etc. This completes the PwC marketing mix.


About PricewaterhouseCoopers (PwC):

PricewaterhouseCoopers (PwC) is a leading professional services company which was founded in the year 1998. The company was formed by the merger of Coopers & Lybrand and Price Waterhouse. PricewaterhouseCoopers is known as one of the Big Four auditors and the other companies are Deloitte, Ernst & Young and KPMG. The headquarter of the company is at London, UK. The chairman of the company is Robert E. Moritz. PwC has more than 2.23 lakhs employees around the globe. The operation of the company can be found in 157 countries. In India, PricewaterhouseCoopers has its offices in major cities like Mumbai, Kolkata, Bengaluru, Pune etc. PwC has also been recognized as the most prestigious company globally for seven years in a row. PwC offers a wide range of services like advisory, consulting, legal and tax, risk advisory services etc.

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The names and other brand information used in the Marketing Mix section are properties of their respective companies. The companies are not associated with MBASkool in any way. The brand names are used purely for educational/academic purpose only.

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