PROJECT REPORT

ON
“A STUDY OF CURRENT MARKETING STRATEGIES IN
REFERENCE TO CROSSPROF”

Submitted in partial fulfillment of the requirements for award of

Bachelor of Business Administration
Of
Ansal University, Gurgaon.

Submitted by
Abhijeet Chahar
Enrolment No:

Guided by:
Ansal University

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 Certificate of Internal Guide

This is to certify that the project titled “A Study of Current Marketing Strategies in reference
to CrossProf” is a bonafide work carried out by Mr. Parveen Goyal a candidate for the
award of Bachelor of Business Administration of Ansal University, Gurgaon under my
guidance and direction.

Signature of guide

Date: Name:

Place: Designation:

Ansal University, Gurgaon

Signature of External Examiner__________________

Date: Name:

Place: Designation:

Institute:

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 ACKNOWLEDGEMENT

A training report is never the sole product of the person whose name appears on the cover. There
is always help, guidance and suggestion of many in preparation of such a report. So it becomes
my first duty to express my gratitude towards all of them.

I would also like to express my gratitude to _____________________, Faculty, Ansal University,

Gurgaon for her excellent guidance and help throughout the training period.

I want to acknowledge the help provided by guide and friends. The precious inputs provided by
them have helped in compiling this report. As well as I want to thank my friends and colleagues
who helped me in this working.

I express my deep-hearted thanks and gratitude to all of those who helped me in this Project.

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 CONTENT

S.NO. TOPIC PAGE NO.

Acknowledgement iii

Executive Summary v

1. Introduction 1

2. Company Profile 11

3. Research Objective and Methodology 13

4. Literature Review 14

5. Primary Finding and Analysis 24

6. Recommendations 34

7. Conclusion & Implications 37

8. Bibliography 37

9. Copy of Questionnaire 38

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 EXECUTIVE SUMMARY

A lot of good marketing focuses not so much on the product/service, but on what the
product/service represents to the consumer. Many companies fail to see this connection. Much of
their marketing and advertising stays focused on the company and/or the product/service rather
than the needs/wants of the targeted consumer. Marketing is all about letting people know about
the product or service, and persuading them to buy or use it. And for effective marketing a
business has to let people know about product or service repeatedly. The marketing strategy is
shaped by overall business goals. It includes a definition of a business, a description of a product
or service, a profile of target users or clients, and defines company's role in relationship to the
competition. The marketing strategy is essentially a document that a business uses to judge the
appropriateness and effectiveness of its specific marketing plans. Marketing Strategy is a defined
“course of action” designed to maximize the use of an organization’s resources in pursuit of its
objectives, and it is the driving force behind the tactics presented in the Marketing Plan. The
Marketing Strategy starts with a thorough Situation Analysis and Market Analysis.

The topic of this research is also related to marketing strategy. The title of this study is “A Study
of Current Marketing Strategies in Reference to CrossProf”. The main
objective of this study is to identify the current marketing strategies used by
CrossProf. This internship project includes both primary and secondary data. The
primary data was collected through questionnaire survey. This is a descriptive
study as it is based on questionnaire survey.

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 INTRODUCTION

Many architects make the mistake of thinking that marketing has only a peripheral relationship to
what their firm does. In fact, marketing works best when it is totally integrated into the operations
of their firm, when it’s a part of everything they do. They can’t create a plan for how to improve
their marketing and increase their business without first considering their long-term goals—not
just in terms of fee revenue or winning work, but in terms of who they want to be and where they
want to go, both as a firm and as a professional. Clearly, marketing planning on this level can be
a challenge, and many firms avoid doing it, or consider only some of these issues, or involve only
some of the key players in the process. The mind-set is often, “they know who they are and
where they want to go. They don’t need to talk about those things. They just need to bring in
more work!” But for a marketing plan to be successful, it has to start with an understanding of the
firm’s vision and direction. The process of defining the firm’s vision and direction has to be
shared by all the senior leaders in the firm, in order to get their input and approval. Marketing
planning is the process of developing a vision of who they are as a firm and what their long term
goals are. It’s about more than just marketing; it can influence everything: human resources,
finance, information technology, operations, hiring, promotions strategy, design process, client
relationships, the design of their office, and absolutely anything else that affects their firm and its
performance. Firms typically engage in strategic planning at defining moments in their practice,
when the firm’s leadership changes or when the practice undergoes some kind of profound
transformation.

Marketing Objectives:

 Increase efforts to change attitudes of customers in the industry so that they perceive as
being genuinely interested in building lasting relationships.

 Make decision-makers in the field aware of locally available capabilities and resources
that offer comparative advantages over resources brought into the province.

 Revise service offering to eliminate low-value adding aspects of the service offered.

 Extend service offering through value-added services or meaningful extensions.

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  Create meaningful service bundles that are difficult for match because they do not have
the same access to local business resources in Market.

 Scan the market for opportunities to offer services that are in high demand

Marketing Planning:

Services or Product Marketing is a core competency of a business; therefore, most of the

marketing work recommended in this plan can be performed by the company. The company
should systematically review their service offering and assess the extent to which the offering
satisfies customer needs. This analysis should involve all staff who deals with their customers
and include service feedback interviews with customers. Companies should also look at
competitors to identify potential improvement areas and ideas for changes to their service
offering. A culture of continuous improvement is a leading practice in successful service
providers. The service review should create insights into:

 High-value adding components of a service that should be provided

 Low-value adding components of a service that could be dropped

 Market opportunities for new services that would fit in with the business

 The potential for bundling own services with new or other existing services

 Seasonal aspects of service provisioning (extension of service period)

The company should start their review immediately. The busy season offers the opportunity to
observe the market and implement new approaches, while managing the risks associated with
change. At the close of the busy season, the organizational and financial requirements of intended
changes should be assessed. Revised service offerings should be well developed and
implemented before the busy season starts. This should give enough lead-time to find, where
required, the right partners and to adjust other marketing instruments (pricing, promotion,
channels). Service offering reviews should become part of a regular marketing routine.
Employees should be encouraged to share their ideas and service feedback interviews with
customers should be carried out. This approach will improve service management, customer

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relations and employee commitment. The company should communicate all service offering
adjustments to the market.

Organizations are endowed with different amounts and types of resources and capabilities, which
allow them to compete in different ways. Organizations which are better endowed have lower
average costs than competitors and can provide products and services at lower cost or provide
greater customer value. These resources are difficult to transfer among organizations because of
transaction costs and because the assets may contain tacit knowledge. Such resources and core
capabilities of the organization, particularly those which involve collective learning and are
knowledge based, are enhanced as they are applied. Resources and capabilities which are
distinctive and superior, relative to those of rivals, may become the basis for competitive
advantage if they are matched appropriately to market opportunities. These resources may,
therefore, provide both the basis and direction for the growth of the organization itself, i.e. there
may be a natural trajectory embedded in a organization’s knowledge base. Hence, the importance
of studying the organization itself when attempting to predict its likely performance Resources
and capabilities determine the organization’s long-run strategy and are the primary source of
profit. In an environment which is changing rapidly and where consumer tastes and preferences
are volatile and myriad, a definition of the business in terms of what the organization is capable
of doing may offer a more durable basis for strategy than a traditional definition, based solely on
needs and wants of consumers. Defining markets too broadly is of little help to the organization
that cannot easily develop the capabilities to serve such a broad market.

Marketing’s role in strategic planning for the organization means identifying the optimal long-
term positions that will ensure customer satisfaction and support. These optimal positions are
determined largely by fundamental changes in demographic, economic, social and political
factors. Thus, strategic positioning is more likely to be guided by long term demographic and
socioeconomic research than by surveys of consumer attitudes, the hallmark of the market-driven
organization. Value in marketing is a combination of product or service quality, reasonable or
acceptable prices and responsive service. It is noteworthy that marketing value combines high
quality with acceptable prices. It is not low quality products at low prices or high quality at high
prices. Marketing effectiveness is not necessarily revealed by current marketing performance.
Good results and growing sales may be due to the organization being in the right place at the
right time rather than having effective marketing management. This is frequently the situation

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during the entrepreneurial phase of an organization’s growth and development. The innovator
frequently has considerable discretion in the market. At this stage the driving force is
entrepreneurship rather than marketing. With acceptance of the product or service in the market
and with the rise in competition which normally accompanies the acceptance of a new product or
service, performance becomes more marketing-dependent. In a competitive environment,
especially where customers have learned how to respond to various offerings, the situation
changes. Improvements in marketing in the organization might improve results while another
organization might have poor results in spite of excellent marketing planning. It depends on how
well the organization matches its own resources against those of the competition to attract and
hold the loyalty of customers. The marketing effectiveness of the organization in serving
customers in the face of existing and potential competition is reflected in the degree to which it
exhibits five major attributes of a marketing orientation:

 demonstrated customer philosophy

 integrated marketing orientation

 possesses adequate marketing information

 adopts a strategic orientation

 experiences a high level of operational efficiency.

The performance of the organization on these individual attributes may be used to indicate which
elements of effective marketing action need most attention. It should be recognized, however,
that this evaluation provides general information only but has the merit of obtaining an
approximate measure of the orientation of the organization.

Key marketing success factors:

The organization attempts to convert skills and resources into superior market positions and
thereby meet performance objectives. Knowledge of the key marketing success factors is
essential to enable the organization to invest in markets and marketing to ensure performance
objectives are attained. By identifying the key success factors the organization can identify ways
of obtaining the greatest improvement in performance for the least expenditure. The key success
factors of any business are the skills and resources which exert the highest degree of leverage on

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market positions and future performance. Having identified them, the organization attempts to
selectively allocate resources towards these sources of leverage. The drivers of market position
advantage are the high leverage skills and resources that contribute most to lowering costs to or
creating value for customers.

Marketing focus on customers:

Marketing means identifying values desired by customers, providing them in some way,
communicating these values to customer groups and delivering the value. Customer values refer
to those benefits focused on solving customer problems and not merely on the products and
services themselves. The focus is on the customer and on solving problems faced by the
customer. An emphasis on relationships rather than individual transactions focuses on the
customer as the profit centre, not the product. It also means that attracting new customers is an
intermediate objective in the process of maintaining and cultivating an existing customer base.
This interactive approach views marketing as a continuous relationship with customers in
contrast to the more traditional and almost adversarial view which is short term and focused on
immediate sales. The first sale to a customer is often very difficult, costs a lot and results in little
or no profit. With a strong continuing relationship the customer becomes more profitable. Such
long-term relationships are established through the exchange of information, products, services
and social contacts. In this way the organization–customer relationship is commercialized. The
fundamental issue is to understand the customer’s perception of value and to determine a superior
value position from this perspective and to ensure

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Marketing Strategy:

A marketing strategy of the Star health Insurance consists of four parts:

 Market Analysis and Segmentation

 Competitive and Strategic Analysis

 Targeting and Positioning

 Marketing Planning

Marketing Mix of CrossProf

Product:

A product means what produce. If produce goods, it means tangible product and when produce or
generate services, it means intangible service product. A product is both what a seller has to sell
and a buyer has to buy. Thus, an Insurance company sells services and therefore services are their
product. In India, the Star health Insurance is the leading company offers insurance services to
the users. Apart from offering life insurance policies, they also offer underwriting and consulting
services. When a person or an organisation buys an Insurance policy from the insurance
company, they not only buys a policy, but along with it the assistance and advice of the agent, the
prestige of the insurance company and the facilities of claims and compensation. It is natural that
the users expect a reasonable return for their investment and the insurance companies want to
maximize their profitability. Hence, while deciding the product portfolio or the product-mix, the
services or the schemes should be motivational.

The Health Insurance scheme is required to be promoted, the Insurance is required to be

expanded and the new schemes and policies for the villagers or the rural population are to be
included. Star health Insurance has intensified efforts to promote urban savings, but as far as rural
savings are concerned, it is not that impressive. The introduction of Rural Career Agents Scheme
has been found instrumental in inducing the rural prospects but the process is at infant stage and
requires more professional excellence. The policy makers are required to activate the efforts. It
would be prudent that is allowed to pursue a policy of direct investment for rural development.
Investment in Government securities should be stopped and the investment should be

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channelising in private sector for maximizing profits. In short, the formulation of product-mix
should be in the face of innovative product strategy.

Pricing:

In the insurance business the pricing decisions are concerned with:

i) The premium charged against the policies,

ii) Interest charged for defaulting the payment of premium and credit facility, and

iii) Commission charged for underwriting and consultancy activities.

With a view of influencing the target market or prospects the formulation of pricing strategy
becomes significant. In a developing country like India where the disposable income in the hands
of prospects is low, the pricing decision also governs the transformation of potential
policyholders into actual policyholders. The strategies may be high or low pricing keeping in
view the level or standard of customers or the policyholders. The pricing in insurance is in the
form of premium rates. The three main factors used for determining the premium rates under a
life insurance plan are mortality, expense and interest. The premium rates are revised if there are
any significant changes in any of these factors.

 Mortality (deaths in a particular area): When deciding upon the pricing strategy the
average rate of mortality is one of the main considerations. In a country like South Africa
the threat to life is very important as it is played by host of diseases.

 Expenses: The cost of processing, commission to agents, reinsurance companies as well

as registration are all incorporated into the cost of installments and premium sum and
forms the integral part of the pricing strategy.

 Interest: The rate of interest is one of the major factors which determine people’s
willingness to invest in insurance. People would not be willing to put their funds to invest
in insurance business if the interest rates provided by the banks or other financial
instruments are much greater than the perceived returns from the insurance premiums.

Place:

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This component of the marketing mix is related to two important facets –

i) Managing the insurance personnel, and

ii) Locating a branch.

The management of agents and insurance personnel is found significant with the viewpoint of
maintaining the norms for offering the services. This is also to process the services to the end user
in such a way that a gap between the services- promised and services – offered is bridged over. In
a majority of the service generating organizations, such a gap is found existent which has been
instrumental in making worse the image problem. The transformation of potential policyholders
to the actual policyholders is a difficult task that depends upon the professional excellence of the
personnel. The agents and the rural career agents acting as a link, lack professionalism. The front-
line staff and the branch managers also are found not assigning due weight age to the
degeneration process. The insurance personnel if not managed properly would make all efforts
insensitive. Even if the policy makers make provision for the quality up gradation, the promised
services hardly reach to the end users. It is also essential that they have rural orientation and are
well aware of the lifestyles of the prospects or users. They are required to be given adequate
incentives to show their excellence. While recruiting agents, the branch managers need to prefer
local persons and provide them training and conduct seminars. In addition to the agents, the front-
line staff also needs an intensive training programme to focus mainly on behavioral management.
Another important dimension to the Place Mix is related to the location of the insurance
branches.

While locating branches, the branch manager needs to consider a number of factors, such as
smooth accessibility, availability of infrastructural facilities and the management of branch
offices and premises. In addition it is also significant to provide safety measures and also factors
like office furnishing, civic amenities and facilities, parking facilities and interior office
decoration should be given proper attention. Thus the place management of insurance branch
offices needs a new vision, distinct approach and an innovative style. This is essential to make the
work place conducive, attractive and proactive for the generation of efficiency among employees.
The branch managers need professional excellence to make place decisions productive.

Promotion:

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The Star health Insurance services depend on effective promotional measures. In a country like
India, the rate of illiteracy is very high and the rural economy has dominance in the national
economy. It is essential to have both personal and impersonal promotion strategies. In promoting
insurance business, the agents and the rural career agents play an important role. Due attention
should be given in selecting the promotional tools for agents and rural career agents and even for
the branch managers and front line staff. They also have to be given proper training in order to
create impulse buying. Advertising and Publicity, organisation of conferences and seminars,
incentive to policyholders are impersonal communication. Arranging Kirtans, exhibitions,
participation in fairs and festivals, rural wall paintings and publicity drive through the mobile
publicity van units would be effective in creating the impulse buying and the rural prospects
would be easily transformed into actual policyholders.

People:

Understanding the customer better allows designing appropriate products. Being a service
industry which involves a high level of people interaction, it is very important to use this resource
efficiently in order to satisfy customers. Training, development and strong relationships with
intermediaries are the key areas to be kept under consideration. Training the employees, use of IT
for efficiency, both at the staff and agent level, is one of the important areas to look into.

Process:

The process should be customer friendly in health insurance industry. The speed and accuracy of
payment is of great importance. The processing method should be easy and convenient to the
customers. Installment schemes should be streamlined to cater to the ever growing demands of
the customers. IT & Data Warehousing will smooth then the process flow. IT will help in
servicing large no. of customers efficiently and bring down overheads. Technology can either
complement or supplement the channels of distribution cost effectively. It can also help to
improve customer service levels. The use of data warehousing management and mining will help
to find out the profitability and potential of various customers product segments.

Physical Distribution:

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Distribution is a key determinant of success for all insurance companies. Today, the nationalized
insurers have a large reach and presence in India. Building a distribution network is very
expensive and time consuming. If the insurers are willing to take advantage of India’s large
population and reach a profitable mass of customers, then new distribution avenues and alliances
will be necessary. Initially insurance was looked upon as a complex product with a high advice
and service component. Buyers prefer a face-to-face interaction and they place a high premium
on brand names and reliability. As the awareness increases, the product becomes simpler and they
become off-the-shelf commodity products. Today, various intermediaries, not necessarily
insurance companies, are selling insurance. For example, in India, Star health Insurance sells
insurance products. The financial services industries have successfully used remote distribution
channels such as telephone or internet so as to reach more customers, avoid intermediaries, bring
down overheads and increase profitability. A good example is UK insurer Direct Line. It relied on
telephone sales and low pricing. Today, it is one of the largest motor insurance operators.
Technology will not replace a distribution network though it will offer advantages like better
customer service. Finance companies and banks can emerge as an attractive distribution channel
for insurance in India. In Netherlands, financial services firms provide an entire range of products
including bank accounts, motor, home and life insurance and pensions. In France, half of the life
insurance sales are made through banks. In India also, banks hope to maximize expensive
existing networks by selling a range of products. It is anticipated that rather than formal
ownership arrangements, a loose network of alliance between insurers and banks will emerge,
popularly known as banc assurance. Another innovative distribution channel that could be used is
the non-financial organizations. For an example, insurance for consumer items like fridge and TV
can be offered at the point of sale. This increases the likelihood of insurance sales. Alliances with
manufacturers or retailers of consumer goods will be possible and insurance can be one of the
various incentives offered.

Market Analysis and Segmentation:

This market analysis takes into consideration both customers of life insurance and general
insurance, mainly in the upstream part of the Star health Insurance.

COMPANY PROFILE

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When an idea is cultivated, the people who have the capability to execute it, have the
responsibility to execute it CrossProf are a bunch of idealistic businessmen who have flocked
towards a very similar goal. An attorney at Law, a Mumbai based business consultant and a
digital coding connoisseur from Bangalore, we have simply tried to revolutionize the way they
conduct business in this relatively small world. Behind the digital curtain they are ordinary
human beings just like you and we have the instinct of excelling among our peers too. They have
concluded that international borders have become obsolete when it comes to generating profit.
They have simply tried to channel your ambition through this handy power tool called CrossProf,
they have simply tried to evolve.

Let’s think of your business as a living being which needs the right connections on every level of
its growth, is it justice to deny what it needs the most for its sustenance. CrossProf is an extension
of your mind with its intricate network of connections based on mutual trust & experience, it
aims to become your guide when it comes to executing international projects. When a firm
becomes our service provider, we initiate and give you the choice to let us mediate a working
relationship between you and this testified service provider opening a massive influx of
opportunities and ideas. On a cloud based platform where our transactions are as clear as the open
sky, we provide our member firms the easement of finding potentially groundbreaking business
opportunities. The fundamentally escalating world running on the pursuit of profit enables us to
follow a simple bidding process to maximize productivity at the best possible rates. This process
benefits the project and increases the drive to deliver while keeping the competition fair & crisp
CrossProf is your international office which works for you while you focus on ideating new
possibilities to grow your business.

CrossProf are resolved to leave no stone unturned in setting the highest benchmark to meet your
standard of business. They are a group of individuals who like to see the positive side of things
and try to assimilate the qualities of our business partners in our own operations as well. They
scan the world to innovate & execute new projects so that the businesses who associate with them
get a firsthand look at the promises we make in terms of our standards. They provide you a
transparent cloud based network which will regulate your costs minimizing risk, give you the
choice to let the best members bid for the project and also allow you to track your projects, get
updates & chat in real time. Through our extensive network of members holding the capacity to
handle extensive international projects, we manage your business’s needs in the most lucrative

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way leaving you free to focus on innovative opportunities. They follow a thorough due diligence
process to make sure that only the best & the most reliable members from all around the world
enter our network. They observe the same discipline when it comes to protecting the privacy &
the data of our member’s businesses.

A business relationship is a long term commitment, commitments are based on promises and they
take their promises to heart. CrossProf operate on the mindset that their conduct defines who they
are. In order to create a community of trust, CrossProf un-reluctantly adheres to ensuring that it
goes above & beyond to exceed all their affiliate member’s expectations. Their prerogative is to
be accountable for the dynamism they hope to introduce in your business, be it a startup or a
Fortune 500 company.

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 RESEARCH OBJECTIVES AND METHODOLOGY

Objectives

1. To identify the current marketing strategies adopted by CrossProf.

2. To understand that which advertisement method CrossProf must use

3. To know the perception of CrossProf in comparison with other

Methodology
This research work uses both primary and secondary data to accomplish the objectives. Primary
data collected via interview with the help of questionnaire and secondary data collected through
Books and the past research done on this topic also Internet was the great support.

Secondary Data: Secondary data collected through internet, magazines and Books.

Primary Data: Primary Sources are those sources from which the information is gathered for the
first time. Information is gathered by the researcher himself. Primary data for this research work
was collected through questionnaires and informal interviews.

Sampling Method: Qualitative convenient sampling method would be used for the proposed
research.

Sampling Area: Customer and Marketing executives

Sample Size: 55

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 LITERATURE REVIEW

"Marketing" is an instructive business domain that serves to inform and educate target markets
about the value and competitive advantage of a company and its products. “Value” is worth
derived by the customer from owning and using the product. “Competitive Advantage” is a
depiction that the company or its products are each doing something better than their competition
in a way that could benefit the customer. Marketing is focused on the task of conveying pertinent
company and product related information to specific customers, and there are a multitude of
decisions (strategies) to be made within the marketing domain regarding what information to
deliver, how much information to deliver, to whom to deliver, how to deliver, when to deliver,
and where to deliver. Once the decisions are made, there are numerous ways (tactics) and
processes that could be employed in support of the selected strategies. As Marketing is often
misinterpreted as just advertising or sales, Chris Newton, in What is marketing? (Marketing Help
Online, 2008), defined marketing as every strategy and decision made in the following twelve
areas:

 Identifying and quantifying the need in the marketplace

 Identifying and quantifying the target markets

 Identifying the optimum cost effective media – online and offline - to reach the target
markets

 Reviewing the priorities of the product offering in your overall product mix ‘matrix’

 Identifying and developing the most effective distribution channels, be they wholesaler
networks, partnering alliances, franchising, or any number of conduits to the market.

 Testing different ways of packaging the concepts or products to find their most 'easy-to-
sell' form

 Testing to find the optimum pricing strategies

 Developing effective promotional strategies and effective advertising and supporting

collateral, offers, and launch strategies

 Developing and documenting the sales process

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  Finding the optimum execution of the sales process – through testing of selling scripts,
people selection, supporting collateral, skills and attitudinal training, tracking, measuring
and refining

 Ensuring that sales projections reflect realistic production capacities

 Developing nurture programs to optimise the lifetime value of the customer

Two levels of marketing

Strategic marketing: attempts to determine how an organization competes against its competitors
in a market place. In particular, it aims at generating a competitive advantage relative to its
competitors. Operational marketing: executes marketing functions to attract and keep customers
and to maximize the value derived for them, as well as to satisfy the customer with prompt
services and meeting the customer expectations. Operational Marketing includes the
determination of the porter's five forces

The major marketing decisions can be classified in one of the following four categories:

 Product

 Price

 Place (Distribution)

 Promotion

Marketing Definition

“Putting the right product in the right place, at the right price, at the right time”

These variables are known as the marketing mix or the 4 P’s or marketing. These are the
variables that marketing managers can control in order to best satisfy customers in the target
market. The marketing mix is portrayed in the following diagram:

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The 4Ps model is just one of many marketing mix lists that have been developed over the years.
And, whilst the questions we have listed above are key, they are just a subset of the detailed
probing that may be required to optimize your marketing mix.

Amongst the other marketing mix models have been developed over the years is Boom and
Bitner's 7Ps, sometimes called the extended marketing mix, which include the first 4 Ps, plus
people, processes and physical layout decisions.

The firm attempts to generate a positive response in the target market by blending these four
marketing mix variables in an optimal manner.

4 Ps

In the early 1960s, Professor Neil Borden at Harvard Business School identified a number of
Birla Cement performance actions that can influence the consumer decision to purchase goods or
services. Borden suggested that all those actions of the Birla Cement represented a “Marketing
Mix”. Professor E. Jerome McCarthy, also at the Harvard Business School in the early 1960s,
suggested that the Marketing Mix contained 4 elements: product, price, place and promotion. In
popular usage, "marketing" is the promotion of products, especially advertising and branding.
However, in professional usage the term has a wider meaning which recognizes that marketing is

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customer-centered. Products are often developed to meet the desires of groups of customers or
even, in some cases, for specific customers. E. Jerome McCarthy divided marketing into four
general sets of activities. His typology has become so universally recognized that his four activity
sets, the Four Ps, have passed into the language.

Product: The product aspects of marketing deal with the specifications of the actual goods or
services, and how it relates to the end-user's needs and wants. The scope of a product generally
includes supporting elements such as warranties, guarantees, and support.

Pricing: This refers to the process of setting a price for a product, including discounts. The price
need not be monetary - it can simply be what is exchanged for the product or services, e.g. time,
energy, psychology or attention.

Promotion: This includes advertising, sales promotion, publicity, and personal selling, branding
and refers to the various methods of promoting the product, brand, or Birla Cement .

Placement (or distribution): refers to how the product gets to the customer; for example, point
of sale placement or retailing. This fourth P has also sometimes been called Place, referring to the
channel by which a product or services is sold (e.g. online vs. retail), which geographic region or
industry, to which segment (young adults, families, business people), etc. also referring to how
the environment in which the product is sold in can affect sales. These four elements are often
referred to as the marketing mix, which a marketer can use to craft a marketing plan. The four Ps
model is most useful when marketing low value consumer products. Industrial products, services,
high value consumer products require adjustments to this model. Services marketing must
account for the unique nature of services. Industrial or B2B marketing must account for the long
term contractual agreements that are typical in supply chain transactions. Relationship marketing
attempts to do this by looking at marketing from a long term relationship perspective rather than
individual transactions.

As a counter to this, Morgan, in Riding the Waves of Change (Jossey-Bass, 1988), suggests that
one of the greatest limitations of the 4 Ps approach "is that it unconsciously emphasizes the
inside–out view (looking from the Birla Cement outwards), whereas the essence of marketing
should be the outside–in approach". Nevertheless, the 4 Ps offer a memorable and workable guide
to the major categories of marketing activity, as well as a framework within which these can be
used.

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7 P’s

As well as the standard four P's (Product, Pricing, Promotion and Place), services marketing calls
upon an extra three, totaling seven and known together as the extended marketing mix. These are:

People: Any person coming into contact with customers can have an impact on overall
satisfaction. Whether as part of a supporting service to a product or involved in a total service,
people are particularly important because, in the customer's eyes, they are generally inseparable
from the total service . As a result of this, they must be appropriately trained, well motivated and
the right type of person. Fellow customers are also sometimes referred to under 'people', as they
too can affect the customer's service experience, (e.g., at a sporting event).

Process: This is the process(es) involved in providing a service and the behaviour of people,
which can be crucial to customer satisfaction.

Physical evidence: Unlike a product, a service cannot be experienced before it is delivered,

which makes it intangible. This, therefore, means that potential customers could perceive greater
risk when deciding whether to use a service. To reduce the feeling of risk, thus improving the
chance for success, it is often vital to offer potential customers the chance to see what a service
would be like. This is done by providing physical evidence, such as case studies, testimonials or
demonstrations.

Personalization: It is here referred customization of products and services through the use of the
Internet. Early examples include Dell on-line and Amazon.com, but this concept is further
extended with emerging social media and advanced algorithms. Emerging technologies will
continue to push this idea forward.

Participation: This is to allow the customer to participate in what the brand should stand for;
what should be the product directions and even which ads to run. This concept is laying the
foundation for disruptive change through democratization of information.

Peer-to-Peer: This refers to customer networks and communities where advocacy happens. The
historical problem with marketing is that it is “interruptive” in nature, trying to impose a brand on
the customer. This is most apparent in TV advertising. These “passive customer bases” will
ultimately be replaced by the “active customer communities”. Brand engagement happens within

18
those conversations. P2P is now being referred as Social Computing and is likely to be the most
disruptive force in the future of marketing.

Predictive modeling: This refers to algorithms that are being successfully applied in marketing
problems (both a regression as well as a classification problem).

Marketing communications

Marketing communications breaks down the strategies involved with marketing messages into
categories based on the goals of each message. There are distinct stages in converting strangers to
customers that govern the communication medium that should be used.

Using the 4Ps Marketing Mix Model:

The marketing mix model can be used to help you decide how to take a new offer to market. It
can also be used to test your existing marketing strategy. Whether you are considering a new or
existing offer, follow the steps below help you define and improve your marketing mix.

1. Start by identifying the product or service that you want to analyze.

2. Now go through and answers the 4Ps questions – as defined in detail above.

3. Try asking "why" and "what if" questions too, to challenge your offer. For example,
ask why your target audience needs a particular feature. What if you drop your price
by 5%? What if you offer more colors? Why sell through wholesalers rather than
direct channels? What if you improve PR rather than rely on TV advertising?

The Promotions Mix:

Let us look at the individual components of the promotions mix in more detail. Remember all of
the elements are 'integrated' to form a specific communications campaign.

1. Personal Selling:

Personal Selling is an effective way to manage personal customer relationships. The sales person
acts on behalf of the organization. They tend to be well trained in the approaches and techniques
of personal selling. However sales people are very expensive and should only be used where

19
there is a genuine return on investment. For example salesmen are often used to sell cars or home
improvements where the margin is high.

2. Sales Promotion:

Sales promotion tends to be thought of as being all promotions apart from advertising, personal
selling, and public relations. For example the BOGOF promotion, or Buy One Get One Free.
Others include couponing, money-off promotions, competitions, free accessories (such as free
blades with a new razor), introductory offers (such as buy digital TV and get free installation),
and so on. Each sales promotion should be carefully coasted and compared with the next best
alternative.

3. Public Relations (PR):

Public Relations is defined as 'the deliberate, planned and sustained effort to establish and
maintain mutual understanding between an organization and its publics' (Institute of Public
Relations). It is relatively cheap, but certainly not cheap. Successful strategies tend to be long-
term and plan for all eventualities. All airlines exploit PR; just watch what happens when there is
a disaster. The pre-planned PR machine clicks in very quickly with a very effective rehearsed
plan.

4. Direct Mail:

Direct mail is very highly focused upon targeting consumers based upon a database. Creative
agencies work with marketers to design a highly focused communication in the form of a
mailing. The mail is sent out to the potential consumers and responses are carefully monitored.
For example, if you are marketing medical text books, you would use a database of doctors'
surgeries as the basis of your mail shot.

5. Trade Fairs and Exhibitions:

Such approaches are very good for making new contacts and renewing old ones. Companies will
seldom sell much at such events. The purpose is to increase awareness and to encourage trial.
They offer the opportunity for companies to meet with both the trade and the consumer. Expo has
recently finish in Germany with the next one planned for Japan in 2005, despite a recent decline
in interest in such events.

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6. Advertising:

Advertising is a 'paid for' communication. It is used to develop attitudes, create awareness, and
transmit information in order to gain a response from the target market. There are many
advertising 'media' such as newspapers (local, national, free, trade), magazines and journals,
television (local, national, terrestrial, satellite) cinema, outdoor advertising (such as posters, bus
sides).

7. Sponsorship:

Sponsorship is where an organization pays to be associated with a particular event, cause or

image. Companies will sponsor sports events such as the Olympics or Formula One. The
attributes of the event are then associated with the sponsoring organization.

The elements of the promotional mix are then integrated to form a unique, but coherent
campaign.

Concept and Characteristics of Marketing Mix:

The process of marketing or distribution of goods requires particular attention of management of

business because production has no relevance unless products are sold. Marketing mix, simply
stated, is the process of designing and integrating various elements of marketing in such a way as
to ensure the achievement of enterprise objectives. The elements of marketing mix have been
classified under four heads - product, price, place and promotion. That is why marketing mix is
said to be a combination of 4 P’s. Decisions relating to the product include product designing,
packaging and labeling and varieties of the product. Decision on ‘Price’ is very important because
sales depend to a large extent on product pricing. Whether uniform price will be charged or
different prices will be charged for the same product in different markets are examples of
decision pertaining to the price of the product. The third important element is ‘place’, which
refers to decision regarding the market where products will be offered for sale. ‘Promotion’
involves decisions bearing on the ways and means of increasing sales. Different tools or methods
may be adopted for this purpose. The relative importance to be attached to the various methods is
decided while concentrating on the element of ‘promotion’ in marketing mix, lastly, the
marketing manager has to take into account the impact of external factors like consumer
behavior, competitors’ strategy, and Government policy on each element of marketing mix. In

21
short, marketing mix involves decisions regarding products to the made available, the price to be
charged for the same, and the incentives to be provided to the consumers in the markets where
products would be made available for sale. These decision are taken keeping in view the
influence of marketing forces outside the organization

Factors governing Promotion-mix:

1. Nature of product

Different types of products require different promotion mix. In case of consumer goods,
advertisement is considered to be the most important because the goods are non-technical and
produced on a large scale. But for industrial goods personal selling is regarded as the most
important tool because the products are technical in nature, costly and persuasion is considered
essential for their sale.

2. Type of the market

If the number of customers is quite large and they are spread over a vast area, advertisement is
more helpful because it can reach people everywhere. However if number of customers is not
very large and they are concentrated geographically, personal selling and sales promotion may be
more effective.

3. Stage of the product life cycle

The promotional mix depends upon the stage of the product in product life cycle. During
introduction, heavy expenditure is incurred on advertisement followed by personal selling and
sales promotion. During the growth stage, customers are aware of the benefits of product. Hence
advertisement along with personal selling will be more effective. At the maturity stage,
competition is more intense. Sales promotion becomes the most important tool to boost sales.

4. Budget

Funds available for promotion also decide promotion mix, e.g. advertisement is a costly tool. If
sufficient funds are not available this tool may not be adopted. Personal selling involves
continuous spending. Thus, budget is a deciding factor for promotion-mix.

5. Push vs. Pull Strategy

22
When the firm pushes the product to the middlemen they in turn push it to the consumers, it is
known as ‘push’ strategy. In this case, personal selling or display should be more effective. Pull
strategy refers to the policy of a company to strive to build up consumer demand without
recourse to middlemen. Generally advertising is considered more important in case of pull
strategy. To sum up, it may be said that all promotional tools are complementary and not
competitive. The degree of emphasis on each tool will differ depending upon the influence of
certain factors. A proper combination of promotional tools should be designed to attain better
results.

23
 FINDINGS AND ANALYSIS

Q1. Are you aware of CrossProf?

100% respondents replied yes that they are aware about online shopping

24
Q2. From where you come to know about CrossProf?

21% respondents replied that they came to know from advertisement but 47% respondents replied
that they came to know from Internet

25
Q3. Have you ever use the services of CrossProf?

28% respondents did online shopping very frequently but 22% respondents did it frequently

26
Q4. Have you ever come across with CrossProf’s advertisements?

7% respondents replied that it was happened less than once but 38% respondents replied that it
was happened 3 or 4 times.

27
Q5. Does CrossProf advertisement provide you the relevant information about the services?

2% respondents replied that it happens rarely but 15% respondents replied that it happens
sometimes

28
Q6. Do you thing you get better deal on CrossProf compare with other companies?

6% respondents replied that it is not at all better but 17% respondents replied that it is very better

29
Q7. Do you think CrossProf should provide more services?

97% respondents replied yes that they should provide more variety of products

30
Q8. Have you ever faced any problem with CrossProf?

13% respondents replied that it happens rarely but 17% respondents replied that it happens
sometimes

31
Q9. Were you satisfied with the solution that was provided to you by the company?

5% respondents replied that they were not at all satisfied but 26% respondents replied that they
were very satisfied

32
Q10. How was the overall experience with CrossProf?

33
 RECOMMENDATION

Image advertising is a waste of their time and money, especially in a time like this. If they are not
using advertising that provides a measurable, quantifiable cost per lead, cost-per-sale and lifetime
value of a customer, they are practically throwing their money away.

In a recession, it is more critical than ever to hold every marketing campaign accountable. That's
the only way to know how they should react in a down market and get the maximum impact for
every single dollar spent. For example, the lifetime value Publisher's Corner of a customer tells
them exactly how much they can afford to spend to acquire a new customer. Without these
statistics, it is impossible for them to know whether they are making the most profitable use of
their marketing budget. It's the only way they will know whether they are getting a positive or a
negative return on their investment.

A powerful USP will grab prospects' attention, distinguish them from competitors and draw them
into their story. Now is the time to review and revise your USP. If it doesn't tell your prospects
how they will benefit from their product in today's downturn and distinguish them from the
competition...chances are they will become irrelevant. Their USP needs to be prominent, easily
found and up-to-date in all of their marketing-TV, direct mail, website, they name it.

Before sending out their next campaign, take the time to review and revise their USP. Then place
it at the beginning, middle and end of every marketing piece they create.

When money is tight, fear of making a poor purchasing decision is high. Prospects will question
what they say and raise more objections that prevent them from buying. Don't ignore the worries,
fears and concerns that are plaguing their prospect. Instead, use preemptive copy to address and
overcome prospects' skepticism.

Addressing these evils and explaining why their product overcomes them will boost their
response. Likewise, ignoring these evils will depress their response.

34
Media spending is plummeting and they haven't hit the bottom yet. As a result, online and offline
media costs are dropping-and, in some cases, this trend is likely to be long-term or permanent.
Here's where I've successfully helped marketers with cost-cutting negotiations:

 Printing

 Media costs

 Lists

 Postal discounts

 Media options

The price of radio and TV time has seen deep cuts-which may be why the ubiquitous Snuggie
(TM) ads aren't confined to late-night TV spots. In addition to lower costs, they'll find deals and
opportunities never seen before. For example, many local newspapers and even The Wall Street
Journal are selling ad space right on the front page.

In this recession, consumers are hunting for the best way to get more for their money. It's critical
to update their value proposition so that it's powerful and preemptive: It should answer prospects'
questions before they ask them and overcome their objections. Remember, their offer is not about
the product it's about the prospect and what the prospect gets. The strongest offers reinforce
value. They focus on the deal that the prospect will receive and present a get-more-for-their-
money image.

35
 CONCLUSION
A marketing strategy can serve as the foundation of a marketing plan. A marketing plan contains
a set of specific actions required to successfully implement a marketing strategy. For example:
"Use a low cost product to attract consumers. Once our organization, via our low cost product,
has established a relationship with consumers, our organization will sell additional, higher-margin
products and services that enhance the consumer's interaction with the low-cost product or
service."

A strategy consists of a well thought out series of tactics to make a marketing plan more
effective. Marketing strategies serve as the fundamental underpinning of marketing plans
designed to fill market needs and reach marketing objectives. Plans and objectives are generally
tested for measurable results.

A marketing strategy often integrates an organization's marketing goals, policies, and action
sequences (tactics) into a cohesive whole. Similarly, the various strands of the strategy, which
might include advertising, channel marketing, internet marketing, promotion and public relations,
can be orchestrated. Many companies cascade a strategy throughout an organization, by creating
strategy tactics that then become strategy goals for the next level or group. Each one group is
expected to take that strategy goal and develop a set of tactics to achieve that goal. This is why it
is important to make each strategy goal measurable.

Marketing strategy is a method of focusing an organization's energies and resources on a course

of action which can lead to increased sales and dominance of a targeted market niche. A
marketing strategy combines product development, promotion, distribution, pricing, relationship
management and other elements; identifies the firm's marketing goals, and explains how they will
be achieved, ideally within a stated timeframe. Marketing strategy determines the choice of target
market segments, positioning, marketing mix, and allocation of resources. It is most effective
when it is an integral component of overall firm strategy, defining how the organization will
successfully engage customers, prospects, and competitors in the market arena. As the customer
constitutes the source of a company's revenue, marketing strategy is closely linked with sales. A
key component of marketing strategy is often to keep marketing in line with a company's
overarching mission statement.

BIBLIOGRAPHY
36
 Jham, V, Sales & Distribution Management, Institute of Advanced Studies in Education,
Deem University, Rajasthan, Vikas Publications, (Forthcoming, 2008).

 Kothari, C.R. 2005. Research methodology: methods and techniques. New Delhi: New Age
International.

 Kotler Philips, Keller, Kevin, Marketing Management: 14th Edition, 2011, Prentice Hall of
India Ltd., New Delhi.

 Bettman, J. R, M. F. Luce, and J. W. Payne. 1998. Constructive consumer choice processes.

Journal of Consumer Research 25 (3): 187—217.

 Kumar, K., Ambarish, Jordan, B.B. and Barker Tansu, A., 1987, Made in India, what it means
to Indian consumers? Ind. J. Mktg, 17 (9) : 26-34.

 Business World

 Business Today

 The Times of India

 www.shrirampistons.com

37
 COPY OF THE QUESTIONNAIRE

1.) Are you aware of CrossProf?

a.) Yes
b.) No

2.) From where you come to know about CrossProf?

a.) Advertisements
b.) Newspaper
c.) Internet
d.) Magazines
e.) Other

3.) Have you ever use CrossProf servies?

a.) Very Frequently
b.) Frequently
c.) Neutral
d.) Rarely

4.) Have you ever come across with CrossProf advertisements?

a.) Less than once
b.) 1 or 2 times
c.) 3 or 4 times
d.) More than 4 times

5.) Does CrossProf advertisement provide you the relevant information about the services?
a.) Never
b.) Rarely
c.) Sometimes
d.) Often
e.) Always
6.) Do you thing you get better deal on CrossProf compare with other companies?
a.) Not at all better
b.) Slightly better
c.) Moderately better
d.) Very better
e.) Completely better

7.) Do you think Crossprof should provide more services?

a.) Yes
b.) No

8.) Have you ever faced any problem with CrossProf?

a.) Never

38
 b.) Rarely
c.) Sometimes
d.) Often
e.) Always

9.) Were you satisfied with the solution that was provided to you by the company?
a.) Not at all satisfied
b.) Slightly satisfied
c.) Moderately satisfied
d.) Very satisfied
e.) Completely satisfied

10.) How was the overall experience with CrossProf?

a.) Very poor
b.) Poor
c.) Fair
d.) Good
e.) Excellent

Thanks for your cooperation

39