DLF Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of DLF through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
DLF Product Strategy:
DLF is one the largest real estate companies in India. The main business of DLF includes developing homes and commercial places. These comes under its development business. Its products or in this its projects include: DLF Homes, DLF Offices, DLF commercials, DLF Malls. All these are the product strategy in the marketing mix of DLF. Its homes business is divided into Super Luxury, Luxury and Premium segments. Even in all these segments it offers multiple products like condominiums, duplexes and most importantly apartments. These are available in various sizes also. DLF’s another business wing which is annuity business deals with the rental business of corporate offices and retail. Its commercial projects include malls and various IT SEZ buildings. DLF is now also a major player in infrastructure building, its partnering with governments in projects like building highways and flyovers. It also builds recreation and leisure ventures.
Image: Wikimedia
This concludes the product strategy in DLF marketing mix & strategy.
DLF Price/Pricing Strategy:
Below is the pricing strategy in DLF marketing mix strategy:
DLF has a unique model of making money, majority of their revenues come from rentals and developments. As DLF are spread across segments and geographies they follow different strategies for pricing in their marketing mix.
As DLF is into residential and commercial real estate it uses different prices based on the area and they range from nearly 4000 per square feet to 15000 per square feet and more. As Its segments are more towards luxury and premium its prices generally high for average Indian realty firm’s charges. DLF also charges its customers with any escalation charges which are a result of change in commodity prices during the period of construction. In this way it is protecting its margins. At the same time if the prices come down DLF refunds the any extra money to its customers back. All this is done in a smooth transition as everything is clearly specified in contracts.
DLF Place & Distribution Strategy:
Following is the distribution strategy in the DLF marketing mix:
DLF develops properties across the country like Delhi, Kolkata, Hyderabad, Chennai and Bangalore. These properties include residential buildings like apartments, row houses and gated communities. DLF also partners with major IT firm s like Microsoft, GE, IBM and others in major cities like Hyderabad, Chennai, NCR, Kolkata, Bangalore and Mumbai. DLF also involves in recreational and leisure activity constructions and shopping malls in these places.
DLF is also involved in construction business at Shimla, Kochi and Lucknow.
DLF Promotion & Advertising Strategy:
The promotional and advertising strategy in the DLF marketing mix is as follows:
DLF used many modes of marketing to increase its brand image. A 360 degree branding approach is taken by DLF in its marketing mic promotional strategy. DLF does many promotional activities from mass marketing to direct marketing. DLF gives print advertisements in newspapers and magazines in major cities. It also places hoardings at strategic locations where more attention and time span can be drawn from the audience. Its direct marketing includes sending the broachers and digital forms of constructions through video and audio to prospective customers. DLF has partnerships with many property brokers and consultants. It also has a good relation with some banks who lend home loans. DLF created a huge leap in its branding when it became the official sponsor of the Indian Premier League (IPL) cricket tournament in India.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of DLF.
People:
DLF employees nearly 11,500 employees in all of its construction process. These include Engineers, Architect, customer support, legal and financial team and construction workers also. DLF provides a very challenging roles and responsibilities to its employees. It is very encouraging in communicating and consulting with employees in regards to issues of health and safety. It gives more emphasis on safety of employees and gives them training, information and supervision to do the work more effectively and safely.
Process:
DLF has several business processes in place to increase its efficiency and margins. has put in place all the industry best practises to make sure it works with great operational efficiency and for the customer satisfaction. From drawing up the contracts to delivering the property DLF has many checks and balances to make sure it complies with all the legislative, regulatory and statuary policies and requirements. DLF checks any risks involved in the whole process of development and provides with the necessary measures.
Physical Evidence:
DLF headquarters at Delhi is a construction wonder and built with a very grand architecture and design. DLF provides financial statements every year and it is listed company in Indian stock exchange. The financial statements include the company’s plans for the future and its current performance. DLF’s logo of pyramid with nine triangles in black colour shows support, interdependence and cohesion of the organization. It has a tagline called ‘Building India’ suggesting its mission. Hence, this concludes the entire DLF marketing mix.
About DLF:
Delhi Land & Finance, DLF is founded by Ragvendra Singh in 1946. Currently Kushal Pal Singh is the chairman of DLF. Initially it concentrated most of its projects in Delhi and Gurgaon region. Now it is India’s largest property developer with nearly 269 million square feet of development potential. Currently 27 million square feet of land is under construction. Krishna Nagar in Delhi is its first project completed in 1949. Now it is developing residential and commercial projects as well. In 2007 DLF issued Its initial public offering (IPO) and its worth $2 billion.
At that point it was the biggest IPO in the history in India. DLF is known for its capability to withstand any down-cycles in the economy with its presence across multiple business and geographies.
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