Panadol Marketing Mix
Marketing Mix
Product
Consumers consider products as bundles of benefits that satisfy their need. The basic level of a product is the core benefit to the customer. People who buy Panadol for cold and flu are buying more than a pill that is used for fast effective temporary relief for symptoms of cold and flu. They are buying on-the-go health that provides close-to instant relief to the illness.
The brand, Panadol, has long dominated the retail scene. This is because GSK, the manufacturer of Panadol, has been selling their product under their umbrella company’s name. Panadol Cold and Flu is an actual product that has combined its brand name, effectiveness and eye-catching packaging to deliver its core benefit.
Product Classification
Panadol Cold and Flu is classified as a convenience product because customers buy it immediately when they catch a cold or flu with minimum comparison to other products and buying effort. Moreover, to accommodate to those in frequent need of the product, Panadol Cold and Flu is sold in boxes of 24 packs. Retailers place Panadol in common convenience stores at a low price to make them more easily available to potential consumers.
Branding
Panadol already owns a successful brand name. GSK has currently positioned Panadol in the market as a pain reliever with few side effects. It has a brand name that is easy to pronounce and recognize. Furthermore, Panadol has globalised by translating its brand name into a market’s native language. For example, Panadol is called “pun a teng” in Chinese which literally means pain reliever. Moreover, the brand name is patented. Fake Panadol like “Panamol” and “Paranol” have been subjected to serious legal actions (Cited http://www.finetpat.com.tw/Chinese/ default.asp?Act=NewsDetails&ID=508, 13 February2011).
Product Differentiation
Panadol has low anti-inflammatory properties compared to other medications like Aspirin and Ibuprofen. Panadol Cold and Flu is powdered with no bitter after-taste. It is a good
Product
Consumers consider products as bundles of benefits that satisfy their need. The basic level of a product is the core benefit to the customer. People who buy Panadol for cold and flu are buying more than a pill that is used for fast effective temporary relief for symptoms of cold and flu. They are buying on-the-go health that provides close-to instant relief to the illness.
The brand, Panadol, has long dominated the retail scene. This is because GSK, the manufacturer of Panadol, has been selling their product under their umbrella company’s name. Panadol Cold and Flu is an actual product that has combined its brand name, effectiveness and eye-catching packaging to deliver its core benefit.
Product Classification
Panadol Cold and Flu is classified as a convenience product because customers buy it immediately when they catch a cold or flu with minimum comparison to other products and buying effort. Moreover, to accommodate to those in frequent need of the product, Panadol Cold and Flu is sold in boxes of 24 packs. Retailers place Panadol in common convenience stores at a low price to make them more easily available to potential consumers.
Branding
Panadol already owns a successful brand name. GSK has currently positioned Panadol in the market as a pain reliever with few side effects. It has a brand name that is easy to pronounce and recognize. Furthermore, Panadol has globalised by translating its brand name into a market’s native language. For example, Panadol is called “pun a teng” in Chinese which literally means pain reliever. Moreover, the brand name is patented. Fake Panadol like “Panamol” and “Paranol” have been subjected to serious legal actions (Cited http://www.finetpat.com.tw/Chinese/ default.asp?Act=NewsDetails&ID=508, 13 February2011).
Product Differentiation
Panadol has low anti-inflammatory properties compared to other medications like Aspirin and Ibuprofen. Panadol Cold and Flu is powdered with no bitter after-taste. It is a good