Cisco Marketing Mix: Two computer scientists from Stanford University founded Cisco Systems Inc. in 1984. Later, in 90, the firm was taken public. In the beginning, computers connected to Available Local Networks (LAN) could not connect to computers that were not connected to the networks until the first commercial Cisco router was released in 1986. Through different protocols for networking, computers were connected despite the distances between them. With Cisco’s Multi-Protocol Router, Cisco became the world’s market leader in networking.
Cisco employs the 4Ps as an effective tool to implement its advertising strategies.
Marketing Mix Of Cisco
Marketing Mix Of Cisco is brand-based. In Marketing Mix Of Cisco, We will Learn About the four key elements of Marketing Mix: products, place, price, and Promotions. By paying attention to the following four components of the marketing mix, a business can maximize its chances of a product being recognized and bought by customers. We will be discussing Cisco Marketing Mix. Below is the detailed Marketing Mix of Cisco.
Let’s talk about Cisco Marketing Mix.
Cisco Main Competitors
- Check Point
Cisco official website: www.cisco.com
Product in the Cisco Marketing Mix:
Cisco offers networking solutions in the form of various items and services designed for small-scale businesses and larger enterprises. Its excellent position and changing positioning allow it to continuously enhance its image and value to match sales and maintain a strong relationship with its customers. The positioning of brands has helped Cisco in the areas of
- A measure of a brand: This is improved brand equity utilizing branding campaigns to increase sales. The step of brand equity is crucial in determining the recognition of brands that have seen a significant increase of up to 54 percent, according to studies done in 2008.
- Market shares: Its market share has increased by 72 percent in switching and 80 percent in routers, according to Slideshare 2008.
To increase the market’s penetration, Cisco provides innovative products customized to offer customers solutions.
Place in the Cisco Marketing Mix:
It is a delivery channel via which Cisco offers its services and products to customers across various segments. It is essential to know that the media set may vary based on the type of customer.
Cisco provides its customers directly via an online platform called Cisco Consumer Online (CCO). The portal allows customers to buy services online following their requirements.
Direct marketing using the internet, it’s Cisco’s marketing channel. This channel promotes the product according to the consumer’s requirements, thus increasing sales and improving profit margins.
Price in the Marketing Mix Of Cisco:
The many methods Cisco uses to set prices for products include Cost-Based Pricing, based on the product’s manufacturing costs, and Competitor Pricing, based on the prices offered by competitors, in addition to Market Led Pricing.
Cost-based PricingWith the use of this technique, Cisco typically charges the minimum amount for a product to reach the break-even threshold. This could sometimes mean the total cost price if sales meet the estimate.
Competitor-Oriented PricingSometimes, Cisco evaluates the cost of its product against the competition by setting an equivalent price either above or below. When similar products are offered, many firms opt for a price that is going to be competitive. Bidding competitively is another option in which the vendor bids and decides the product’s price.
Market Led Price: This takes place by analyzing consumers’ spending on a specific product. Methods employed in this kind of pricing include:
- Experimentation where the price for products are set in different regions based on the profile of the customer and promotions
- Analysis of trade-offs; where the features of the product are compared with the proposed price or set price
- Economic value for customers (EVC); high price for high EVC products. And the vice reverse.
No matter the method or model employed by Cisco and its customers, the price of its products is a reflection of quality, value for money, and affordability.
Promotions in the Cisco Marketing Mix:
Promotions educate customers about the products, thereby encouraging them to purchase them. Promoting makes it possible to influence the buying habits of customers significantly affected.
Cisco utilizes advertising to assist in reaching out to customers and the introduction to brand new items. Advertising is conducted on websites, blogging, online promotions, direct marketing, and public relations.
Direct marketing allows Cisco eliminates intermediaries. Natural marketing techniques for reaching customers are telephone, e-marketing, telemarketing, and direct mailing. Other direct marketing campaigns used include Cable Television Infomercials and Online Shopping. They are crucial in getting immediate responses from the intended customers.
This is the Marketing Mix Of Cisco. Please let us know if you have additional suggestions to add.
[wp-svg-icons icon=”bubbles” wrap=”i”] Let us know What do you think? Did you find the article interesting?
Write about your experiences and thoughts in the comments below.