Published by MBA Skool Team, Last Updated: December 29, 2016
Marketing Strategy of Thomson Reuters 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 Thomson Reuters marketing mix, help the brand succeed.
Thomson Reuters marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Thomson Reuters Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Thomson Reuters Product Strategy:
The product strategy and mix in Thomson Reuters marketing strategy can be explained as follows:
Thomson Reuters offers wide range of financial, technical as well as legal product and service offerings in terms of Commodities, Fixed income markets, Foreign exchange markets, Venture Capital, Equity Markets, Hedge funds, and advisory, Investment Management, Investment banking , Islamic Finance Quantitative research and trading, and Private Equity, Wealth Management solutions. Thomson Reuters also offers trading platform and Post trade service to its valuable clients. It offers risk management solutions in terms of Corporate Governance Compliance risk, Customer and third party risk, Financial risk, and Controls etc. Its key offerings include Industry Codes, Thomson Reuters World-Check, Thomson Reuters Regulatory Intelligence etc. In intellectual Property, it serves in Brand protection and Trademark Research, Intellectual property management, Patent research and analysis, and Standards. The key offering include Thomson innovation , MarkMonitor, SAEGIS, etc. In legal areas, it is active in providing Large Small law firm business development , law Firm Practice and Management. In Pharma & Life Sciences, its offerings include Systems Biology Chemistry research, Drug Development, etc. More it also has large number of product offerings in Scholarly & Scientific Research and Tax & Accounting. This covers the products in the marketing mix of Thomson Reuters.
Thomson Reuters Price/Pricing Strategy:
Below is the pricing strategy in Thomson Reuters marketing strategy:
Thomson Reuters is one of the biggest names in the world.
The pricing of the various product offerings vary greatly as the company offers tailored and customized solutions to its clients. It also outsources intelligence through experts and academicians which results in changing of the pricing patterns. The pricing strategy in the marketing mix of Thomson Reuters depends upon various factors such as extensive global coverage, asset class coverage, delivery, transparency and independent transparent and accurate evaluations.
Following is the distribution strategy in the Thomson Reuters marketing mix:
Thomson Reuters has its presence in almost all first world countries including United States, Canada, Africa, Middle East, Latin America, Europe, United Kingdom, and Asia-Pacific. The company has several corporate offices across different offices across various countries.
It has financial platforms for various purposes including Stock trading.
Thomson Reuters Promotion & Advertising Strategy:
The promotional and advertising strategy in the Thomson Reuters marketing strategy is as follows:
Thomson Reuters engages itself in intellectual promotional events such as conferences, conclaves, summits etc. In the year 2016, it organized 13th state level conference namely ‘Jnana Pragathi- Seek Knowledge, Gain Progress’ in India, in the month of July. It also organized Logistics & Supply Chain conclave in the month of September in Mumbai. The company also organizes numerous webinars for professionals from various fields. It also makes use of social media platforms such as facebook and twitter to keep its buzz in the social media.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Thomson Reuters.
Thomson Reuters employs more than 50,000 professions in 100+ countries delivering solutions in various sectors. It has plethora of experts with wide experiences to with different backgrounds such as business analysts, accountants, publishers, lawyers, programmers, etc. who have capability to bring insights and analysis of the rapidly changing business markets. Thomson Reuters employs diversification in its work culture in terms of gender equality etc.
Thomson Reuters is known worldwide for its quality and standard of intelligent solution in almost every aspect serving what corporate houses exactly need. Its cliental base includes high end corporate house though it also provides solutions for small businesses. The company is also known for its proficient and trust worth solutions and hence passes all the tests of the customer satisfaction.
Thomson Reuters has its headquarters in New York. It has hundreds of offices spread across more than 100 countries delivering the intelligent solutions to corporates. It website, trading platforms and various other financial products forms its part of physical evidence. This concludes the Thomson Reuters marketing mix.
About Thomson Reuters:
Thomson Reuters Corporation is multinational providing its professionals with much needed technology, intelligence and human expertise in various sectors in the market. It creation in 2008 when the Thomson’s Corporation purchased Reuters group based in England. In the year 2010, Thomson Reuters was ranked as leading corporate brand in Canada. It has its operations in more than 100 countries had net income of 1.9 billion USD as on 2014. It provides consultancy in financial risk, tax and accounting, media markets and also in legal perspectives.
Thomson Reuters has been worlds most admired companies from year 2009 to 2016. Also it has acquired top Employer Accreditation in 2016 in as a leading employer in Britain.
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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