DG Ltd., an E-plane car company has developed a revolutionary flying car for passenger mobility. This hybrid flying car can accommodate upto two persons and features innovative wing like doors for comfortable entry (The seats are designed for utmost comfort, crafted from high quality materials) Product.The distinguishing feature of this flying car is that its production will be in India and (it will utilise biofuel alongside electricity, ensuring a sustainable mode of transportation) Soutolion DG Ltd. has obtained the first testing approval for its category. Priced at 2.5 crores the company has to take decisions in respect of discounts to customers, credit terms etc) so that the customere porosive the price to he in line with the value of the produc Pricing Calas Prom Tomakethe flying car available to the target customers, DG Ltd. is in the process of selecting dealers or intermediaries to reach the customers, providing support to the intermediaries etc) Pern To communicate the availability, features, merita etc. of the product to the target customers and persuade them to buy the flying car. (DG Ltd. decided to go in for digital marketing campaigns, press releases and demos conducted by influencers and journalists The above case describes the combination of elements used by DGLtd. to prepare its market offering.Quoting lines from the above para, identify and explain the elements. The above case describes the combination of elements used by DG Ltd. to prepare its market offering. Quoting lines from the above paragraph, identify and explain the elements.
DG Ltd., an E-plane car company has developed a revolutionary flying car for passenger mobility. This hybrid flying car can accommodate upto two persons and features innovative wing like doors for comfortable entry (The seats are designed for utmost comfort, crafted from high quality materials) Product.The distinguishing feature of this flying car is that its production will be in India and (it will utilise biofuel alongside electricity, ensuring a sustainable mode of transportation) Soutolion DG Ltd. has obtained the first testing approval for its category. Priced at 2.5 crores the company has to take decisions in respect of discounts to customers, credit terms etc) so that the customere porosive the price to he in line with the value of the produc Pricing Calas Prom Tomakethe flying car available to the target customers, DG Ltd. is in the process of selecting dealers or intermediaries to reach the customers, providing support to the intermediaries etc) Pern To communicate the availability, features, merita etc. of the product to the target customers and persuade them to buy the flying car. (DG Ltd. decided to go in for digital marketing campaigns, press releases and demos conducted by influencers and journalists The above case describes the combination of elements used by DGLtd. to prepare its market offering.Quoting lines from the above para, identify and explain the elements. The above case describes the combination of elements used by DG Ltd. to prepare its market offering. Quoting lines from the above paragraph, identify and explain the elements.
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Solution and Explanation
The case describes DG Ltd.'s market offering using the elements of the Marketing Mix, often referred to as the 4Ps: Product, Price, Place (Distribution), and Promotion. Let's identify and explain each element using quotes from the paragraph:
1. Product:
Identification: "DG Ltd., an E-plane car company has developed a revolutionary flying car for passenger mobility... This hybrid flying car can accommodate up to two persons and features innovative wing like doors for comfortable entry (The seats are designed for utmost comfort, crafted from high quality materials)...The distinguishing feature of this flying car is that its production will be in India and (it will utilise biofuel alongside electricity, ensuring a sustainable mode of transportation)."
Explanation: This element encompasses the tangible (or intangible) item offered to the market to satisfy a need or want. In this case, the "revolutionary flying car" itself is the product. The description highlights its key features, such as passenger mobility, capacity (two persons), innovative wing-like doors for easy entry, comfortable seating, local production in India, and the sustainable biofuel and electricity combination. These features constitute the core product and its attributes that are designed to attract customers.
2. Price:
Identification: "Priced at 2.5 crores the company has to take decisions in respect of discounts to customers, credit terms etc) so that the customers perceive the price to he in line with the value of the produc."
Explanation: This element refers to the amount of money customers are willing to pay for the product. The quote clearly mentions the "Priced at 2.5 crores" which sets the initial selling price of the flying car. It also states that decisions must be made about "discounts to customers, credit terms, etc." This reveals that DG Ltd. must strategically decide how to position the price in relation to the perceived value of the car for customers. Price encompasses not just the monetary value but also related factors such as payment terms, discounts, allowances, and credit terms.
3. Place (Distribution):
Identification: "To make the flying car available to the target customers, DG Ltd. is in the process of selecting dealers or intermediaries to reach the customers, providing support to the intermediaries etc."
Explanation: This element encompasses the channels and strategies used to make the product accessible and available to the target market. "Selecting dealers or intermediaries to reach the customers" highlights the distribution channel DG Ltd. is considering. It includes all activities involved in moving the product from the manufacturer to the end consumer, such as transportation, warehousing, inventory management, and the selection of distribution partners (in this case, dealerships).
4. Promotion:
Identification: "To communicate the availability, features, merits etc. of the product to the target customers and persuade them to buy the flying car, (DG Ltd. decided to go in for digital marketing campaigns, press releases and demos conducted by influencers and journalists)."
Explanation: Promotion refers to the activities undertaken to communicate the value proposition of the product and persuade target customers to buy it. The quote states that DG Ltd. will use "digital marketing campaigns, press releases, and demos conducted by influencers and journalists." This showcases a mix of promotional tactics, including advertising (digital campaigns), public relations (press releases), and personal selling/demonstrations (influencer demos), designed to inform and persuade potential customers about the flying car's benefits.
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