Arriving at the Marketing Mix

The above five concepts are interlinked and hence give rise to the marketing mix which consists of the four “Ps” of marketing viz. Product, Price, Place and Promotion.

These four Ps stem from the customer value construct, encompassing the cost-benefit analysis and also give a fairly clear picture of where the product/service stands in the context of market, industry and also in its life cycle (within the brand as well as the category). It helps the marketer to understand the key areas where the product needs to improve and assess the strengths of the promotional schemes employed.  The 4 Ps help answer the following questions precisely:

In the context of Tresemme, the four Ps answer these questions as follows:

PRODUCT:

Customer Requirements:Reduce hair fall, salon styled hair

Features: Free from harmful chemicals

How and where will customer use it? To wash hair

What does it look like? Sachet/Bottle

Colour: Black and purple look (connotes luxury)

Size: 8 ML, 100 ML, 200 ML, 600 ML

What is it called? Tresemme Hair Fall Defense

How is it branded? A different product, professional quality

Differentiated as: HUL Promise to deliver exceptional quality as always

PRICE:

Monetary value: 8 ML - Rs. 3, 100 ML - Rs. 68, 200 ML- Rs. 135, 600 ML- Rs. 295

Price Point: Price at par with nearest competitors (L'Oreal, Pantene) otherwise it is in the premium hair care category

Discounts to traders/retailers: Attractive trade discounts to retailers 

Price Sensitivity: Product caters to high-end customer- therefore lesser price sensitivity.

PLACE:

Location of product: Mom-and-pop stores in locality, Large retail stores (Big Bazaar, Reliance, DMart)

Distribution Channels: Distribution Channels include wholesalers, agents

Sales force used or not? Sales force not used to reach the customer but aggressive sales promotion in the context of retail stores (pushing for maximum shelf space)

Competitor Strategy: Competitors follow more or less the same distribution channels.

PROMOTION:

Where to promote? Promotion on TV, Print (magazines like Cosmopolitan, Good Housekeeping, Femina), PoP display and persuasion,  sampling, some PR activities like sponsored events, hair styling fests.

Best time to promote- all through the year as it is a daily use product. Cannot be promoted seasonally, but special occasions like Valentine's Day, New Year etc can be tapped

Competitors' strategy: Neck to neck. Similar strategy. Key differentator is that Tresemme positions itself as a professional quality shampoo giving a salon styled look everyday. 

Here we can see an integration of the earlier concepts of customer perceived value, elements of the consumer decision making process, the overall market, competition and industry as well as the analysis of where the product currently stands in the PLC curve.

As in case of Tresemme, it is a new product in the Indian market, therefore, in the growth stage. 

However, the 4 Ps are an incomplete picture of the ever changing marketing domain. One needs to delve deeper into the trenches. But for the sake of a basic understanding, the 4 Ps give us a rough idea of the product and the dimensions associated with it at grassroots’ level.