Mphasis Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of Mphasis analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Mphasis marketing mix, help the brand succeed in the market. Let us start the Mphasis Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
Mphasis Product Strategy:
The product strategy and mix in Mphasis marketing strategy can be explained as follows:
Mphasis is one of the most recognized IT companies across the world. Mphasis provides services like application services, Business process services for different industries, Digital technology operations etc. They provide solutions like NextAngles, Blockchain, Wynsure etc.
NextAngles is a cart-up by Mphasis. It is a cloud based AI smart compliance solution which helps any financial institution to comply and address any regulatory risk faced by them. It reduces the cost, time and burden and stress of compliance by a considerable amount. It improves the compliance results in terms of time, consistency and completeness.
Handling big data is one of the biggest problems that companies are facing these days.
Mphasis has developed HyperGraf which is a cloud based solution that operates on Big data complex event processing engine and correlate data from multiple customer touch points. It is an Omni channel Digital 360-degree solution which provides comprehensive, accurate and real time customer engagement data to the decision makers of the enterprise. It builds customer profiles, recommend products/services and engagement strategies. InfraGraf from Mphasis is an intelligent infrastructure automation platform which enables companies to take strategic decision about their technology infrastructure such as interconnected servers, industrial equipment, Internet of Things, network devices and so forth. It optimizes resources and bandwidth by reducing costly downtime and eliminating waste.
Image: company website
Mphasis Price/Pricing Strategy:
Below is the pricing strategy in Mphasis marketing strategy:
Mphasis has a diverse offering and hence a wide range of prices for clients. Every market has its own needs and price points.
The pricing of contracts is done according to the competition in the market and is based on the complexity of the project and the cost of inputs in that project. Mphasis follows competitive pricing in its marketing mix. They have fixed price contracts and the revenue is recognized using the percentage of completion method. With increasing competition margin is decreasing but the company has been working on it and is focusing on IMS share of revenues and getting more fixed price contracts.
Read more about Mphasis
Mphasis Place & Distribution Strategy:
Following is the distribution strategy in the Mphasis marketing mix:
Mphasis has global infrastructure, state of the art automation and tools and a mix of mature processes through which they ensure excellent delivery. They have a unique delivery model with centers across the country including the tier 2 cities. They have a differentiated delivery strategy and a scalable workforce. Mphasis has six top global banks, three top global insurance companies and eleven top mortgage lenders as their clients. Several manufacturing and insurance companies are also their key clients. Mphasis has a global footprint of both developed and emerging economies. The company has a delivery footprint in countries such as United states, Australia, China, Sweden, United Kingdom, Poland etc. Mphasis have BPOs in Indian cities of Bhubaneshwar, Pune, Indore, Raipur, Mangalore, Vadodara and Pondicherry.
Countries like India, Indonesia and Philippines cater to BPO, Apps and IT services.
Mphasis Promotion & Advertising Strategy:
The promotional and advertising strategy in the Mphasis marketing strategy is as follows:
Mphasis has its own marketing department which handles public relations, advertising etc. for them. The company has a social media presence in Twitter, LinkedIn and Facebook. Mphasis has reached 500,000 people on Facebook. There is a blog section in the company’s website which provides with some important and knowledgeable information. The company hosts a lot of events and conferences throughout the year such as the blockchain conference in 2017. They invite eminent speakers and panel to discuss about prevalent topics. Mphasis have videos on their website educating the viewers about their products and services. Mphasis is involved in lot of corporate social responsibility initiatives which provides them with considerable visibility and popularity. They have been helping the weavers and artisans in a town in Trichy, Tamil Nadu to transform their lives through digital literacy.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Mphasis.
People:
Mphasis gives utmost importance to human capital and believes that only people of the company can achieve sustained growth and performance. It provides its employees with a vibrant culture with empowerment, experimentation and customer centricity as its core values. Mphasis has robust people processes which is substantiated by People Capability Maturity Model certification. The company has increased investment in learning and development. They have a training academy in Mangalore. Mphasis has an Integrated Leadership Development framework which was started in 2013. The main purpose was to groom top talent of middle and senior level managers. They are assessed on their will and leadership qualities. Mphasis provides its employees with Employee Stock Option Plans, Gratuity and other benefits.
Process:
Mphasis is a customer-driven company which is what aids proactivity. They do not wait for external pressures, and constantly try to improve their service deliver in order to continuously increase value for the customers. They have innovative processes in which they co-opt and co-create with customers to generate extraordinary services. They constantly streamline their processes in order to be more efficient. One can get in touch with them through their website or one can locate the nearest Mphasis office through the locater present in the website.
Mphasis adheres to global standards when it comes to its processes. It implemented an Enterprise Risk Management (ERM) program to proactively identify, mitigate, monitor and report risks across the company.
Physical Evidence:
Mphasis relaunched its logo and slogan in 2014. “Unleash the Next” is the slogan written under its logo and it represents the commitment and the aspiration of the company. This statement is kept keeping in mind their offerings, customers, employees and society at large. The company’s mission is to become a specialized enterprise which delivers innovative services and technology by leveraging their global talent and the inquisitive minds of the people. Hence, this gives an overview on the marketing mix of Mphasis IT company.
About Mphasis:
Mphasis Limited is a resultant of a merger in 2000 between Mphasis Corporation and BFL software Limited. Mphasis Corporation was a US based IT consulting company whereas BFL software Limited was an Indian It services company and was founded in 1992. Mphasis offers a range of It solutions such as applications, business process outsourcing and infrastructure services. Their technological knowhow, domain and process expertise makes them the leading IT solution provider with an impressive clientele and extensive global presence. Blackstone, the largest private equity firm in the world is the majority shareholder in Mphasis Limited. Ganesh Ayyar is the chief operating officer of Mphasis Limited. He was named as the ‘CEO of the Year’ at CEO Connection’s 2016 Mid-Market Awards. It has business verticals in Motor insurance, Property & Casualty insurance.
The company faces substantial challenges due to the multiple lines of businesses and multiple consumer segments. In 2015 Economics Times named Mphasis as the “Most Distinguished Digital Company”.
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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