Marketing Mix of Vee Technologies analyses which covers 7Ps

Marketing Mix of Vee Technologies analyses which covers 7Ps (Product, People, Price, Place, Process, Promotion, Physical evidence) and explains the Vee Technologies marketing strategy. .

Let us start the Vee Technologies Marketing Mix:
Product:
Vee Technologies is a global business process management firm. Vee Technologies provides strategic services to its customers in the following industries:
Healthcare provider
Healthcare payer
Media
Logistics
Heavy engineering
Aerospace and defence
The services offered by Vee Technologies are mainly software related services. All of these are the product & service strategy in its marketing mix.
Vee Technologies’s Services ; solutions division provides these following services – Healthcare BPM and BPO; Medical billing and coding services; Healthcare Payer; Heathcare Provider; Logistic services; Heathcare Analytics; Finance and Accounting Services; Animation Services.

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Price:
Vee Technologies has got a dynamic pricing based on the service of solution required by clients. For similar and common services, that do not require much expertise, Vee Technologies charges a price depending on the market.
As with growing IT requirements, the competition in IT sector is also growing. Clients want to save their money, if task is not much demanding. Hence competitive pricing marketing mix strategy is an essential element for Vee Technologies.
For some particular tasks, when company has to show more dedication in terms of research and employee engagement, the pricing strategy adopted is such that it benefits for the client and the company both. As the cost saved by the software, is huge thus, for better services, Vee Technologies can charge also a good amount of fees. Hence it charges a customized fee.
where salaries are significantly low, for offering better prices to customer, cost saving is done through offshoring the employees. Thus, depending on the talent pool of the company, it always lesser price than its competitors.

Place:
Vee Technologies provides s
Promotion:
Lancaster and Reynolds (2005) stated that “marketing communication decisions include: promotion strategy (push, pull, etc.), advertising, personal selling and sales force, sales promotion, public relations and publicity, and marketing communications budget).”
Vee Technologies does promotion of various kinds in its marketing mix with an objective increasing its brand awareness among industries and prospective clients. Vee Technologies does social responsibility activities wherein it works in three chosen fields of school education, employability and technical education. These activities are promoted by the public relations team. Also the public relations team gives the press briefings and the awards and recognitions received by the company to all the news and magazines.

Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Vee Technologies.

People:
The huge advantage of IT firms is their ability to employee from offshore, as physical interaction with client is not very significant, with technologies coming up. This reduces the cost of hiring, and it also helps the company to recruit from a vast talent pool, rather than a fixed one.

The biggest strength of Vee Technologies is its own Sona college,it has over 10,000 students including MBA and P.HD .We use Sona College as a fertile recruiting ground to ensure access to top talent and as a proving ground to test many of our internal processes before setting them into a production environment at Vee Technologies. It attracts young talent from the campuses and trains them before putting them into their roles.
Vee Technologies gives induction, behavioural and also distance training. Periodic evaluations are made by managers and appraisals are given on performance based factors. . Others programs include – E-lab program, leadership and customer centric activities. Vee Technologies is training employees about the design thinking which is a user centric one and also making internal processes much simpler.

Process:
Vee Technologies has several processes for its business and customer service. For making the company future ready Vee Technologies formulated a strategy called DAVID.
Our internal processes lead to extraordinary outcomes and is as simple as 1-2-3:
1. Unique Delivery Processes
Business understanding
Process mapping
Process evaluation (based on complexity, criticality, cost and risk)
Defining of strategic services roadmap
Defining Service Level Agreements (SLA)
2. Leading into Efficient Execution
Deployment of appropriate processes and technology
Re-engineering of migrated processes
Implementation and risk strategies
Transition management
Resourcing and training
Implementation and evaluation of pilot
Assimilation of take-outs from pilot
Quality management
3. Leading to Delivering a Successful Solution
Delivering productivity, savings, and quality
Meeting and exceeding SLAs
Process and progress reviews
Planning for the future
Client side training and deployment
Physical Evidence:
Being in service industry, the evidence for VEE technologies is not only about the number of product it sells, but also customer satisfaction. Revenue of Vee Technologies
Bitner, M. J. and Booms, H. (1981). Marketing Strategies and Organization: Structure for Service Firms. In Donnelly, J. H. and George, W. R. (Eds). Marketing of Services, Conference Proceedings. Chicago, IL. American Marketing Association. p. 47- 52.

McCarthy, E. J. (1964). Basic Marketing. Richard D. Irwin. Homewood, IL.