Marketing Mix Strategies in Indian Market Essay - 1

Marketing Mix Strategies in Indian Market - Essay Example It also carries out a brief review of literature on the marketing mix theories and the positioning strategies followed by the two above mentioned products in the Indian market. In India, the marketing mix that is followed within a market is entirely related to the product, price, place and promotional strategies. The general views associated with these four perspectives have been discussed in the following paragraphs: Product, in short, solutions to the customer-base in overall India, refers to the physical good that is circulated in the whole market. In order to get a clear understanding of the product mix, one should be very clear about the concept of a product. Products not only include the physical presence of goods but also encompass services. Generally, a product that is launched into a market has to go through a life cycle which is called the Product Life Cycle (PLC). In order to study the marketing mix, one has to critically analyse every stage of PLC. The stages in a PLC are the introductory phase, the growing phase, the maturing phase and the declining phase. Price, in short, something that the customers need to pay in return of the product, refers to the valuation of that physical good, including its production costs. Price is considered to be very essential element in marketing mix. It is directly proportional to the revenues generated by the Indian economy (Marketing, 2010). Place, which means, accessibility of the customers, refers to the locations or destinations at which the physical goods will be made readily available to the customers. It also refers to the strategies that a product may follow through which it will be made available to the customers either by direct selling through counters or shops, by delivering the product at the destination of the customer.