Indian Premier League
A Market Research Project On
Effectiveness of Marketing Strategies adopted by IPL
[pic]
Submitted to:
Prof. Chinmaya KULASRESHTHA
Submitted by: Akshay (11P007) AMITESH KAMANI (11P008) ANAND JHUNJHUNWALA (11P009) ANKIT OJHA (11P010) ARPIT GOEL (11P011) ASEEM JAGADEV (11P012) GROUP-2
1. Introduction to Project
1. Marketing Strategy: Concept A marketing strategy is a combination of marketing tools that are used to satisfy consumers and company objectives. An offer is controlled by the following variables often referred to as the four Ps in marketing: • Product • Promotion • Price • Place [pic]
There are many methods that can be used in creating a successful marketing mix. The key is to not always depend on "one" mix but take a combination of several of the above categories. By using a variation of these, one can easily reach multiple consumers within a target market.
1. PRODUCT
A product can be a tangible item like soap, shampoo etc. or it can be a service like tourism industry or hotel industry that is provided to a consumer. Under this element, decisions regarding branding, packaging, quality, styling, functionalities etc. are taken. Every product has a life cycle which has a growth phase followed by a decline phase. To retain its consumers and competitiveness with other products, product differentiation is required. This is one of the strategies to differentiate a product from its competitors.
2. PRICE
This element includes the pricing strategy used by a company for its products. A pricing strategy is not only about the profits margin. It includes taking decision on financing, discounting, credit terms, list price etc. Consumers are very sensitive to decisions taken in this realm. While an expensive product is generally assumed to be of a good quality, a cheap product is able to reach the pockets of
Effectiveness of Marketing Strategies adopted by IPL
[pic]
Submitted to:
Prof. Chinmaya KULASRESHTHA
Submitted by: Akshay (11P007) AMITESH KAMANI (11P008) ANAND JHUNJHUNWALA (11P009) ANKIT OJHA (11P010) ARPIT GOEL (11P011) ASEEM JAGADEV (11P012) GROUP-2
1. Introduction to Project
1. Marketing Strategy: Concept A marketing strategy is a combination of marketing tools that are used to satisfy consumers and company objectives. An offer is controlled by the following variables often referred to as the four Ps in marketing: • Product • Promotion • Price • Place [pic]
There are many methods that can be used in creating a successful marketing mix. The key is to not always depend on "one" mix but take a combination of several of the above categories. By using a variation of these, one can easily reach multiple consumers within a target market.
1. PRODUCT
A product can be a tangible item like soap, shampoo etc. or it can be a service like tourism industry or hotel industry that is provided to a consumer. Under this element, decisions regarding branding, packaging, quality, styling, functionalities etc. are taken. Every product has a life cycle which has a growth phase followed by a decline phase. To retain its consumers and competitiveness with other products, product differentiation is required. This is one of the strategies to differentiate a product from its competitors.
2. PRICE
This element includes the pricing strategy used by a company for its products. A pricing strategy is not only about the profits margin. It includes taking decision on financing, discounting, credit terms, list price etc. Consumers are very sensitive to decisions taken in this realm. While an expensive product is generally assumed to be of a good quality, a cheap product is able to reach the pockets of
References: Annual Review of Global Sports Salaries, 2010 published by sportingintelligence.com B Joseph Pine and James H Gilmore, 1998, Welcome to the experience economy Bhavin Pandya and Mitesh Jaysawal, 2010, Merchandising Domestic Cricket League Brands: Discernible Way to Keep the Brands Productive and Alive, European Journal of Social Sciences – Volume 14, Number 1 (2010) Bourgeon and Bouchet, 2001 D Brand Finance Report, 2010 reports IPL to be valued at $4.13 billion Business Standard: article titled “IPL: The $2 bn brand”, http://www.business-standard.com/india/news/ipl2-bn-brand/387825/ Dirk Briskorn 2008, Sports Leagues Scheduling Models, Combinatorial Properties, and Optimization Algorithms, Lecture Notes in Economics and Mathematical Systems Volume 603, 2008, DOI: 10.1007/978-3-540-75518-0 Holt, 1995 D.B R. Madhevan, Actor, IPL Quote-Unquote, NDTV good times Ridinger and Funk, 2006 L.L VJD System, http://en.wikipedia.org/wiki/VJD_System Worldwide Spectator Sports Industry Report, 2011, preceding p1-104, 105p, 235 Charts ----------------------- [1] Brand Finance Report, 2010 [2] Annual Review of Global Sports Salaries, 2010 [3] B Joseph Pine and James H Gilmore, 1998 [8] R. Madhevan [9] Bhavin and Mitesh, 2010