Videocon Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of Videocon analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Videocon marketing mix, help the brand succeed in the market. Let us start the Videocon Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
Videocon Product Strategy:
The product strategy and mix in Videocon marketing strategy can be explained as follows:
Videocon is a leading consumer electronics company based out of India. The following are the Videocon product verticals in its marketing mix:
• Videocon Consumer Electronics & Home Appliances- Hybrid solar AC, Television, Refrigerators, Washing machines, Air conditioners
• Videocon Mobile Handsets
o Smart phones: Ultra series, Cube series, Q series, Krypton series, Delite series, Thunder series, Graphite series, Challenger series, Zest series
o Feature Phones: Star series, Virat series, Bazoomba series, Raga series, Dost series and other mobile accessories
• Videocon Telecom (Prepaid, Post-paid, Roaming, Value Added services, etc)
• Videocon D2H Services: Digital Set Top Box, HD Digital STB with Unlimited Recording, HD Smart Connect, 4K Set Top Box, A-la-carte channels, Variety of Packs of channels
• Videocon has retail brands like Planet M, Next and Digiworld
• Oil and Gas: Indonesia Acerages, Brazil Acerages, Timor Sea Acerages
• Real Estate, UAE Ecommerce and other International Business Units
All these cover the various offerings by Videocon.
Image: company website
Videocon Price/Pricing Strategy:
Below is the pricing strategy in Videocon marketing strategy:
Videocon being a conglomerate has different pricing strategies in its marketing mix for all of its business verticals as they operate under different factors. Some of them are as follows:
• For home appliance the pricing strategy is designed to penetrate the households of India by keeping low so that most household would buy a Videocon product
• Videocon has focused in rural market in order to increase the span of consumer base
• Mobile phones too are priced lesser than of competitors as the rivalry in brands and the speed at which new technology and features in phones are produced is a lot
• Videocon’s pricing strategy focuses on maintaining the customer base by offering low reasonable prices for good quality goods
Most of pricing strategies of Videocon products & services is dependent upon factors like geography, competition, technology etc.
.Read more about Videocon
Videocon Place & Distribution Strategy:
Following is the distribution strategy in the Videocon marketing mix:
Videocon is present in many countries across the world through its various offerings. Videocon makes most of its sales through retail outlets. These retail outlets can be Videocon Plaza, Digiworld and Digihome, etc. Videocon Plaza, as the name suggests is an exclusive store for sales of Videocon products. It is present across the country in most of the major cities to ensure easy access to Videocon appliances. Digiworld is a multi-brand outlet and Digihome is a smaller city version of Digiworld where Videocon can be purchased. It has setup multiple warehouses in strategic location to ensure no lag in store viability. These centres also serve as a store for spares and training centres for engineers which will ensure good after sales services. Videocon has several manufacturing plants in India.
Globally, it has plants in China, Italy, Mexico and Poland.
Videocon Promotion & Advertising Strategy:
The promotional and advertising strategy in the Videocon marketing strategy is as follows:
Videocon promotes all its products and services using multiple channels of advertising in its marketing mix. Videocon campaigns for washing machines are mostly undertook by female supporters and they feel the homemakers will be convinced more when they see a female promote the product. It also comes up with offers to boost sales, for example on buying Videocon d2h services for 2 years will be free. For support function toll free lines are a quick stop for any kind of grievance redressal. Offers like exchange old product with a new one, discounts, minimum prices for stock clearing, etc. are also floated by Videocon. It also has a number of celebrities endorsing its various products like Shah Rukh Khan, Abhishek Bacchan, Parineeti Chopra and Grippy Grewal. Hence, this gives an insight in the marketing mix of Videocon.
About Videocon Industries Limited:
Videocon is an Indian company which has a very diversified portfolio. Videocon was set up in the year 1979 by Venugoapal Dhoot. Videocon has manufacturing plants globally like Poland, China and Italy and Mexico. In thirty-eight years of its functioning Videocon has entered into ten product categories. Videocon has won several awards and recognitions across the various sector it is serving its customers.
Acquisitions have made Videocon a strong brand. Globally, Videocon is among the top TV tube manufacturers.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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