Topic > The Four Ps of Marketing - 676

PricePrice StrategyThere are 4 Ps of marketing: price, product, place and promotion. As we have already said, our product is Khadi and our market is the Indian market. Our pricing strategy for India is shown in the table below. The pricing strategy used for the product is the market oriented one where research will be conducted and prices will be set based on consumer perception. This will help the company increase sales by selling high quality products at reasonable prices. The strategy may differ based on the product life cycle. The table below shows the number of products that will be sold at Khadi. Saree is a traditional and cultural dress of Indian women, so the prices of these items are quoted after research from secondary sources. Price constraints The price constraints for the product are due to the target market. The price is set based on the segment where the product is exported. Most of the population earns by working hard and doesn't earn much, so prices are set by desire and how they perceive the product in their market. The other constraint is where the shops are placed if the shop is in an elite class area, hence Khadi, charging premium prices. Product prices vary depending on the quality and material of the fabric. Promotions Marketing Strategy1. We market Khadi by participating in trade fairs. Trade fairs in places such as Britain, Italy, Switzerland, France and Poland have been organized by the International Trade Promotion Offering (ITPO) in a bid to promote Khadi at reputed trade fairs2. Khadi can be marketed by offering export incentives. We give an incentive of 5% on FOB (free on board) given to those industries which exhibit...... middle of paper ......products through innovative and creative TVCs can make the marketing campaign affective. The use of the Internet is more effective in this regard. It's easy to compare, analyze and order your product online with freedom of choice. The Internet medium can provide detailed information and catalogs to facilitate customers by simply browsing certain pages. Importance of country of origin India's climatic conditions vary and have four seasons, but summers have the longest duration when people like to wear light clothes to protect themselves from sunburn. heat of the summers. Khadi cloth also stays cool in winters. So the origin of the country is important as people like to wear cotton clothes. Therefore the introduction of high-end products in the Indian community will be highly appreciated, the traditional name of the product also has some association with its past culture.