PwC Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of PwC analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on PwC marketing mix, help the brand succeed in the market. Let us start the PwC Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
PwC Product Strategy:
The product strategy and mix in PwC marketing strategy can be explained as follows:
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:
Accounting, Audit & Assurance
Some of the service offered by PwC under accounting are accounting, financial reporting and valuation, management consulting, risk management. Some of the service offered under audit & assurance are financial statement audit, internal audit, regulatory compliance, capital market, risk assurance, IFRS reporting and many more.
Consulting & Deals
Some of the service offered in consulting are cyber security, digital services, financial risk and regulators, forensic services, strategy consulting etc.
Some of the PwC services offered under deals are merger and acquisition, joint venture, spin offs, strategic alliance.
People & Organization
Some of the service offered in this segment are global pension, global employee mobility, HR related management etc.
IFRS reporting
PricewaterhouseCoopers offers proper application guidance for its tools and review on IFRS.
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.
Sector Services
These services are offered to various industries like aerospace and defense, automotive, education, chemical, metal, technology etc.
Image: Wikimedia
PwC Price/Pricing Strategy:
Below is the pricing strategy in PwC marketing strategy:
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. The company is also one of the first companies to accept cryptocurrency for payments. The annual revenue of the company is more than $40 billion from all its global operations.
Read more about PwC
PwC Place & Distribution Strategy:
Following is the distribution strategy in the PwC marketing mix:
PwC is the largest professional service firm operating globally in 150 countries. It is also the largest internationally operating accounting firm. PwC provided professional services to more than 400 companies out of the Fortune Global 500 companies. The headquarters of the company are in London, UK and it has significant presence in USA, Australia, Europe, Asia and Africa. 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.
PwC Promotion & Advertising Strategy:
The promotional and advertising strategy in the PwC marketing strategy is as follows:
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 200,000 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 programs 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 favorable 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. 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. This completes the PwC marketing strategy & marketing mix.
About 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 operation of the company can be found in 150 countries.
PwC has also been recognized as the most prestigious company globally consistently for several years. PwC offers a wide range of services like advisory, consulting, legal and tax, risk advisory services etc.
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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