Park Avenue Marketing Strategy & Marketing Mix (4Ps)
Published by MBA Skool Team, Last Updated: December 23, 2017
Marketing Strategy of Park Avenue analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on Park Avenue marketing mix, help the brand succeed.
Park Avenue marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Park Avenue Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Park Avenue Product Strategy:
The product strategy and mix in Park Avenue marketing strategy can be explained as follows:
Park Avenue is a leading men’s apparel and grooming FMCG brand. Raymond, the biggest Indian suiting and fabric solutions brand, owns Park Avenue. It provides stylish and innovative dressing products for Men and women. It has positioned its products in the market as English classy men’s wear brand. Apart from fabrics, the company also has a huge collection of FMCG products in its marketing mix under the name J.K Helen Curtis. Park Avenue products include deodorant, perfumes, soaps, shampoo, hair styling gels and men grooming kits. The products have elegant and stylish packing to give them an international feel.
• The hair styling gels include Wet look, Rugged hold, soft hold, Shampoos
• Shaving: Cream, gel, foam, after-shave lotions
• Deodorant: A wide range of both men and women, divided under premium, pure, classic heads.
• Soap: includes variants like acti cool, luxury, good morning, cool blue, storm
• Talc: Classic, Coolance, Good morning
• Perfume: Onyx, stellar, four seasons, zen, sail, original, 9 to 5, after 8.
Image: company website
Park Avenue Price/Pricing Strategy:
Below is the pricing strategy in Park Avenue marketing strategy:
The fabrics under the Park Avenue brand name is mainly targeted towards the middle class and younger target groups.
It prices its products competitively as a part of its marketing mix pricing strategy, while keeping intact the high quality that Raymond group delivers. The Park Avenue brand mainly targets groups from the urban areas of the country. The company also provides FMCG products, priced on the lower side while maintaining high quality. This leads to high volume sales and high turnover for the company. The loyal customers are less price sensitive while the less loyal ones tend to jump from one brand to another. Certain people perceive products priced over 200 as expensive. In general, Park Avenue products are perceived to be affordable by masses.
Following is the distribution strategy in the Park Avenue marketing mix:
Park Avenue products are available in almost every major city and town in India. Raymond has a strong distribution network that makes its products available everywhere across India. The company opened its first retail store in Mumbai. Soon the similar success followed in the overseas market. The products under Park Avenue brand are sold in 560+ Raymond shops, 50+ exclusive brand stores, 656+ Multi chain stores and online stores.
It distributes its FMCG products via small retailers, chemist stores, cosmetic stores, departmental stores, hypermarkets and online stores.
Park Avenue Promotion & Advertising Strategy:
The promotional and advertising strategy in the Park Avenue marketing strategy is as follows:
The brand has been shy in terms of promoting its brand for quite some years now. With time, Park Avenue has come out of its shell and adopted various marketing strategies to scale up its brand awareness among the consumers. It has launched several ad campaigns, which have made its way to the hearts and minds of the people through mediums like print, digital and electronic. Ads are shown on television various news, business channels, displayed on billboards at popular places, fashion magazines and newspapers. Park Avenue has leveraged the social media platform to advertise their products via Twitter, Facebook, and YouTube. It has its own website that acts as an information hub for customers to check out. Park Avenue brand believes in catering to men by providing exclusive manly products to them. This has played out really well for the brand Park Avenue. It has increased the brand loyalty among men and elevated its level in the market. It's parent company the Raymond group has achieved great feats in the industry. It was ranked 23rd as the “Most Trusted Brand of India” by The Brand Trust Report 2014. This places Park Avenue at an advantageous position over some of its competitors. Word of mouth has played a very important role in promoting its fabric and FMCG products. In an industry filled with clichéd ads for deodorants, which shows women swooning over men once they use a deodorant, Park Avenue reinvented and repositioned itself in the minds of the consumers. The ad featured Farhan Akhtar in a refreshing ad, which mentioned the benefits of using a deodorant and headlined with a tagline: “Always fresh, always on”. This concludes the Park Avenue marketing mix.
About Park Avenue:
Park Avenue is a subsidiary of the Raymond group, launched in the year 1986. It has its headquarters in Mumbai, India. The company is headed by Gautam Singhania, the chairman and MD of Raymond group.
Other than Fabric, Park Avenue has expanded itself into FMCG segment. Raymond introduced Park Avenue to offer complete wardrobe dressing solutions.
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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