Marketing Mix

Marketing Mix Elements:

4 P's of Marketing: The four P's of marketing comprise Product, Place,  Price and Promotion. Let us see how these can be related to Parachute Hair Oil.

Product - Product is used to refer to the varied range of products or services that a company is selling including  quality, reputation  and branding of the product. The variants of Parachute are Parachute Advansed, Parachute Therapie and Parachute Jasmine. Therefore Parachute is accepted by all sectors.

Price - Price refers to the amount of money for which the product is available. Parachute oil products are available in different forms and also in different sized packs. Parachute: 200ml- Rs 39, 20ml- Rs 5, mini-Re 1; Parachute Jasmine: 500ml-Rs90, 50ml-Rs 12; Parachute Therapie: 50ml-Rs 190; Parachute Advansed: 80ml-Rs 27, 300ml-Rs 80. This makes Parachute affordable by all.

Place - Place means the location where the shops selling Parachute exist and where this product is actually sold. Parachute hair oil is easily available in urban as well as rural India and also a few other countries where it is expanding its market. 

Promotion - Parachute promotes its product by advertising through Print,  Digital Media and Television. It has celebrities promoting the brand such as Deepika Padukone and Yuvraj Singh. Advertising is especially heavy before Holi and during winters. Campaigns like '1 hour champi kiya ' help remind people about the benefits of oiling before hair wash. Sales promotion such as 20% extra was also made on the 200ml pack. This creates awareness among the people and generates more customers.

Five Product Levels:

Relating it to Parachute Hair Oil -

Core benefit lies with the customer as it is the customers requirement that has to be fulfilled. The actual service that the customer is buying is strong and healthy hair.

Basic product is generated by the company as it provides with customer benefit. The company is the first to provide such a product with a fresh design and in a new form. Marico created the basic product, Parachute Hair Oil.

Expected product is the reaction to all the products available in the market. It rests in the mind of the customer. Customer willingly accepts the product as it  fulfills his requirement.

Augmentation brings about distinction in the products and therefore lies with the competition. Variants of Parachute Hair Oil were introduced as a result.

Potential product lies with the company as company is the innovator of the product. Competition will also have potential product as it innovates to create products that can compete with the company's product. The competitor and the company are in a continuous process to make better product than each other and prove their product to be the best.

Product Classification: Parachute Hair Oil is a non durable good which is tangible and is normally consumed in one or a few uses. This oil is available in different sizes of packages and are purchased frequently. It is easily available in almost every location at affordable prices and are advertised heavily to  build preference over other competitors. The promotional strategy has been described above already.