Marketing Mix

4 P's of Marketing: Product, Place,  Price and Promotion.

Product - 'Product' refers to the variety of products or services that a company is selling including  quality, reputation  and branding of the product. The variants of Parachute (Product Depth) are Parachute Advansed, Parachute Scalp Therapie and Parachute Jasmine, etc. 

Price - Price is 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. The different sizes and accordingly different prices ensure that Parachute affordable for all.

Place - It is 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. It is available in supermarkets and kirana stores alike.

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:

Core benefit:  For Parachute hair oil, 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: It is the reaction to all the products available in the market. Customer compares the competitors such as Bajaj Almond Oil, Dove Elixir, etc.

Augmented Product: It points towards product differentiation. It explains why variants of Parachute Hair Oil were introduced.

Potential product: The company or the innovator of the product has this aspect in its hands. Competition will also have potential product as it innovates to create products that can compete with the company's product. This would be an impetus for innovative line extensions, product line filling and stretching.