The Marketing Mix of Vivo tells the 4ps (Product, Price, Place, and Promotion) of the Chinese multinational technology company – Vivo!
Vivo Communication is a Chinese technology firm owned by BBK Electronics that specializes in the design and manufacture of smartphones and smartphone accessories throughout China, as well as software and online services.
The company’s main focus is on phone software development, which is delivered through the Vivo App Store. Vivo was started in 2009, and by 2015, it has risen to become one of the top ten smartphone manufacturers.
Within a few years of its inception in the Indian market, Vivo has become quite popular in the smartphone sector. The brand’s models are incredibly popular and have several stunning features that have made them extremely popular with the general public.
Samsung, Oppo, Oneplus, Xiaomi, HTC, and Nokia are Vivo’s main competitors in the market. The company didn’t acquire much traction when it first began, but with correct techniques and media attention, the brand became incredibly successful in the gadget industry.
Let’s start with the Marketing Mix of Vivo to learn more about its product, price, promotion, and distribution approaches.
Product in The Marketing Mix of Vivo
Vivo is a well-known consumer electronics and smartphone brand. Vivo’s marketing mix aims to provide clients with high-quality products and exceptional service. Vivo markets itself as a great selfie phone, which appeals to youngsters.
They concentrate on introducing devices with a quality audio system, a fantastic appearance, and a quick and easy interface. When it comes to developing new goods, the Vivo brand believes in using creative and inventive technologies. It released the X1 in 2012, which was the first smartphone to include a Hi-Fi chip, providing an unparalleled audio experience. Since then, this capability has been featured in all of their smartphones.
In the year 2014, it joined the Indian market. Vivo is one of the world’s top ten smartphone manufacturers. In 2020, Vivo will collaborate with Zeiss to create breakthrough mobile imaging technology. Every year, the company sells around 130 million smartphones.
Price in The Marketing Mix of Vivo
Vivo phones are of good quality and come at a reasonable price. When it comes to the sale of smartphones, Vivo recognizes that certain of its markets are price-sensitive, and it is critical to be present in the proper price band to have the benefit of attaining a strong market share.
As a result, Vivo has made its goods available not just in all price ranges, but also in those that contribute the most to overall sales. Despite this, the brand’s items are marginally more expensive than equivalent products offered by other rival companies.
In its marketing mix, it mostly employs a competitive price strategy. The high cost of Vivo products is attributed to the large number of features available, the phone’s appearance and design, the battery life, camera quality, performance, and audio and video quality.
Despite the expensive costs, many consumers are convinced to buy Vivo products because of the excellent after-sales support provided by the company. However, many consumers believe that Vivo has to enhance its value for money for its customers by upgrading specs in various price sectors, particularly in the low-price bands, to boost its position in the Indian market.
Place in The Marketing Mix of Vivo
Vivo was founded in 2009 and has since been registered in over 100 countries across the world. Thailand, Indonesia, Vietnam, Malaysia, Myanmar, the Philippines, and India are among the countries where it has spread globally.
Apart from China, India is one of Vivo’s most important markets, and it is likely to overtake China in the near future. Vivo is presently the country’s fastest-growing smartphone brand. Vivo distributes its products both online and in retail stores.
They offer their products offline through a network of distributors, wholesalers, and retailers located across the world. Vivo has pursued a strong offline strategy, believing that users want to hold the smartphone in their hands and feel how it feels before making a purchase.
Their main goal is to make the phone available in every electronics store and megastore so that customers may try it out before buying it.
Vivo believes that selling its goods offline is more effective than selling them online since there is no chance of dealing with an unknown vendor, the product not meeting expectations, or a security issue.
Promotion in The Marketing Mix of Vivo
When it comes to advertising and marketing its brand, Vivo is highly proactive. Vivo uses a 360-degree marketing approach to promote its goods, including ATL, BTL, print media, television ads, social media, celebrity endorsements, and on-ground events. It focuses particularly on its on-the-ground initiatives, which it considers to be its most significant competitive edge in both China and India.
It also places a strong emphasis on out-of-home advertising. Vivo has been a major sponsor of many sporting events throughout the world, including the FIFA World Cup, the IPL cricket tournament, and other major sporting events.
The company has also enlisted the help of various celebrities as brand ambassadors, who appear in commercials and speak about the new Vivo phones. Vivo has also partnered with outdoor advertising businesses to promote its latest smartphones on billboards throughout the world.
I hope you have gathered all the essential information about the Marketing Mix of Vivo and the 4 P’s of Vivo. Stay tuned for more Marketing Mix Articles.