MakeMyTrip Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of MakeMyTrip analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on MakeMyTrip marketing mix, help the brand succeed in the market. Let us start the MakeMyTrip Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
MakeMyTrip Product Strategy:
The product strategy and mix in MakeMyTrip marketing strategy can be explained as follows:
MakeMyTrip is one of the leading travel booking website in India, offering variety of services to its users. Offering travel and tour packages which includes domestic and international destinations form the main business services of MakeMyTrip. The products in its marketing mix include airline, bus and rail tickets for different places offered by different vendors. MakeMyTrip acts as platform which connects the users with different transportation service providers. The online portals also offers a one point connection for different hotels in terms of their availability, reviews and description for the users.
MakeMyTrip also provides the consumers with rental taxi services in different cities across the country. The main business model is to offer consumers variety of packages at different rates and features and provide them with optimum offerings as per their requirements. The services are accessed through apps or internet which provides the ease to consumers by providing one stop for all travelling needs.
Image: company website
MakeMyTrip Price/Pricing Strategy:
Below is the pricing strategy in MakeMyTrip marketing strategy:
MakeMyTrip has to compete with several other travel portals to keep its leadership position in India. The main pricing model adopted by MakeMyTrip is to provide the users with best offer deals provided by various tour operators and travel service facilitators.
This provides the customers a wide range of options to choose depending on his preference and budget. The main motive of MakeMyTrip is to get large customer base and thereby increase its revenue through economies of scale. The customers also get added benefits for some of the destinations also there can be discounts in terms of early bookings. There has been rising competition in terms of rising number of portals providing such services and in terms of staying ahead it is necessary to incentivise the customers in terms of reduction in price or offering combo packages. The companies tie ups with various service providers also enable it to provide such offers.
Read more about MakeMyTrip
MakeMyTrip Place & Distribution Strategy:
Following is the distribution strategy in the MakeMyTrip marketing mix:
MakeMyTrip is known to people mainly through its online presence in form of internet website and mobile application platform. Also the features on these platform are user friendly wherein the customers can avail the services and view wide variety of offers. This also enables to provide 24*7 service to the users and can be accessed anywhere across the globe.
MakeMyTrip also has offline presence in form of 65 retail stores across 50 different cities in India along with New York and Sydney.
MakeMyTrip Promotion & Advertising Strategy:
The promotional and advertising strategy in the MakeMyTrip marketing strategy is as follows:
MakeMyTrip has a strong brand presence owing to its great marketing exercises. Major share of the promotion of is done through digital marketing online utilizing its platform and through social media like other travel portals. Through platforms like Facebook, Twitter and YouTube it has been able to convey its brand to the online masses. Some of the television commercials and newspaper advertisement have been undertaken to reach wider range of people. MakeMyTrip also makes use of its promotional offers in terms of discounts and special services to premium users to make better brand awareness. It has been stated that almost 1 million routes in India is covered by the network of MakeMyTrip. Associations with financial institutions like banks to generate more offers are also being undertaken to reduce competition.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of MakeMyTrip.
People:
Being an online portal there is lower level of physical interaction between the employee of MakeMyTrip and users registered in it. People factor plays a major role in such kind of services since it is the other major evaluating factor for customers in terms of service offered. MakeMyTrip offers customer service through its executives meeting every requirements made by the users. The senior management team and its employees have helped in creating a brand name right from designing deals and offering varied services enabling it to remain in forefront in the competitive travel portal service sector. This can be recognized from the fact that the company has been recognized as the best travel and hospitality online portal by various agencies and awards. Also the company has been identified as one of the best places to work in the country.
Process:
The entire operation for the MakeMyTrip booking process takes place through electronic platform. For the customer end after registering in MakeMyTrip application or website he is able to view different offers in terms of travelling options through flight, rail and bus or hotel services offered by different companies. After selecting the required services from the portal the user makes online payment including the fare and service charges. At the backend the MakeMyTrip is connected to different hotels, airline companies, bus service providers, IRCTC, tour operators, car rental operators etc. who display their service information and price that is made available through this platform. The payment is then transferred to the sellers by MakeMyTrip after user has made the payment. This provides a seamless integration among different service provider and customers through single platform of MakeMyTrip.
Physical Evidence:
MakeMyTrip has been successful in providing customized needs of the user by understanding the pattern of booking and provide them with repeated notification of available similar deals. There has been ease in the terms of availing services and cancelling the services including receiving refund immediately. MakeMyTrip website, app, offices etc are the leading examples of its physical evidence. There has been major changes in terms of services provided right from the stage o its inception to provide better customer services. Reduced hassle and comfortable booking of journey has been the major motive of the online portal and it has highly succeeded in providing it. This completes the MakeMyTrip marketing mix.
About MakeMyTrip:
India’s well known online travel MakeMyTrip was founded in the year 2000 with initial focus towards providing flight tickets and tour packages. Founded by Deep Kalra alumni of prestigious IIM A had its operations in US to cater the needs of travellers between India and USA. Presently the Gurugram based company looks into domestic and international travel packages including rail, bus and airline tickets along with hotel bookings and the service in India was started in the year 2005. MakeMyTrip is one of the successful online portal with more than 1700 employees and operating at different cities across India and globally at New York and Sydney.
MakeMyTrip has added various services through its portal development and acquisition of various firms rendering similar services in the transportation and tourism sector. MakeMyTrip have merged with Ibibo group and has become one of the largest travel booking portals in the country.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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