Xerox Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of Xerox through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Xerox Product Strategy:
Xerox is one the leading global printing solutions and printer manufacturing company. Products and solutions offered by Xerox can be classified into two types namely Office solutions and production solutions. Office solutions include – Office Printers, Multifunction, Scanners, Office Software. Its printers are of varied types and portfolio includes some of the series like Xerox VersaLink, Xerox Phaser and Xerox ColourQube. WorkCentre series printers are multifunction or all in one printers. It also produces scanners called DocuMate series scanners for home/personal use, production/ department and workgroup. Its additional solutions to existing printers and scanners to improve the productivity include Xerox Mobile Print, Easy Translator Service and Xerox Print Safe. Its production Solutions to the printing sector to enable digital printing include various types of printers like Xerox Nuvera series, it also produces inkjet and continuous feed printers like Impika Series and Trivor series. All these specified products are available in multiple variants with different specifications in Rated speed, Resolution, media size and Duty cycle. All these give an insight in the product strategy in its marketing mix.
Image: Wikimedia
This concludes the product strategy in Xerox marketing mix & strategy.
Xerox Price/Pricing Strategy:
Below is the pricing strategy in Xerox marketing mix strategy:
Xerox is very well known for its pricing strategies. Over the course of time Xerox has changed its pricing strategies in its marketing mix to remain profitable and competitive at the same time.
Initially when the prices of printers are too high for organizations or households to buy, Xerox used to give the equipment and first few thousand copies for free and price the later ones for few cents each. This strategy changed the way it operates. Also quite some time back when the prices of printers and supplies of all kinds are sharply falling continuously. Xerox increased the base cost to make more margins and reduced the cost of consumables and reduced the price difference between colour and monochrome cartridges so to attract customers to print the coloured pages at price of black and white. Currently, Xerox’s WorkCentre series printers starts at the price of $259 and go up till $15000 plus depending on the various specifications and capabilities. It offers printers in all price ranges to be affordable to all sections of the society.
Read more about Xerox
Xerox Place & Distribution Strategy:
Following is the distribution strategy in the Xerox marketing mix:
Xerox is truly a global company with its operations in nearly more than 160 countries in North America, South America, Europe, Africa, Asia and Australia. United states, Canada, Latin America, middle east, western Europe and Asia Pacific are major business centres. Half of its revenues come from outside of U.S and western Europe region is the biggest market for Xerox after the U.S. Xerox also have a multiple distribution channels to reach to its different customer segments like small and medium-size industries, graphic communications firms, government bodies, education establishments, Fortune 1000 companies, and also other companies in document-intensive industries such as healthcare, legal and financial services.
Xerox products can be ordered through online, via phone, in person and its several business partners.
Xerox Promotion & Advertising Strategy:
The promotional and advertising strategy in the Xerox marketing mix is as follows:
Xerox caters its products and solutions to both households and businesses as well and because of this very reason it drives various kinds of promotional activities that include a range of ad campaigns in television during high viewership slots. Xerox does ad camping for b2b businesses as well for portraying its new product lines and capabilities that can help customers conduct their business more effectively. Xerox also indulge in sales promotions where it offers discounts and coupons in its limited time special sales activities. Apart from TV ads Xerox also does print advertising in newspapers and magazines.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Xerox.
People:
Xerox employs nearly 54,700 individuals worldwide in its various business process and functions. These Xerox employees work in variety of roles like sales professionals, managed service employees, technical service employees. Apart from all these it has large number of agents & concessionaires and technology resellers. Xerox provides opportunities for former military personnel’s who seek corporate careers. It gives much importance to global diversity and inclusion at workplace. Xerox provides a global comprehensive learning platform with access to online courses, virtual classroom courses, simulations, job aids and many other resources. And in all these courses the topics are varied like - leadership development, personal effectiveness, technology solutions productivity tools, customer service and negotiations.
Process:
Innovating new processes to improve productivity is at the core of Xerox’s development as global leader and a synonym for photocopy. Xerox has nearly 11,360 patents under its name. It is working in various of businesses to improve its positioning like CleanTech and Energy, Data analytics and artificial intelligence, design and digital manufacturing, printed electronics and video and image analytics. It does take pride in innovating new business models and processes. Xerox established 4 research centres across the world. One of most important areas of innovation for Xerox is creating agile business processes that can help the customers to automate most of the process. Xerox provides solutions and processes that suit the most for the client requirements.
Physical Evidence:
Xerox’s biggest physical evidence is its printers in different offices. Xerox is a publicly traded company and listed in New York stock exchange. Xerox releases it financial reports annually to give the information of company’s performance and its future plans to the involved shareholders. Apart from Its headquarters located at Norwalk, Connecticut, Xerox has many offices located in nearly 160 countries worldwide. Its products are tangibles like printers and scanners. Its logo is a red coloured sphere with white arcs crossing each other on it. It recently launched a new tagline – ‘Set the Page free’. It also ran many ad campaigns with many slogans since its inception. This covers the marketing mix of Xerox.
About Xerox:
Xerox is a very well-known name for the Xerox Corporation that is established in 1906 in Rochester. Xerox was then called by the name The Haloid Photographic Company, and manufactured Photographic paper and other equipment. It is now a giant global corporation that is in the business of selling document services, solutions and other document technology products.
Headquartered in Norwalk, Connecticut this American multinational Xerox is conducting its business in more than 160 countries worldwide. Xerox is regularly ranked in the fortune 500 companies list and recently it has divided into two separate entities - Xerox Corporation, this will handle the Document Technology and Document Outsourcing businesses and the other one is Conduent Incorporated, a business process services company.
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