Question

DG Ltd., an E-plane car company, has developed a revolutionary flying car for passenger mobility. This hybrid flying car can accommodate up to two persons and features innovative wing-like doors for comfortable entry. The seats are designed for utmost comfort, crafted from high-quality materials. The distinguishing feature of this flying car is that its production will be in India, and it will utilise biofuel alongside electricity, ensuring a sustainable mode of transportation. DG Ltd. has obtained the first testing approval for its category. Priced at ₹ 2.5 crores, the company has to take decisions in respect of discounts to customers, credit terms, etc., so that the customers perceive the price to be in line with the value of the product. To make the flying car available to the target customers, DG Ltd. is in the process of selecting dealers or intermediaries to reach the customers, providing support to the intermediaries, etc. To communicate the availability, features, merits, etc. of the product to the target customers and persuade them to buy the flying car, DG Ltd. decided to go in for digital marketing campaigns, press releases, and demos conducted by influencers and journalists. The above case describes the combination of elements used by DG Ltd. to prepare its market offering.

Quoting lines from the above para, identify and explain the elements.

Answer 1

1. Product: “This hybrid flying car has doors that look like wings, making it easy for two people to get in and out. The high-quality materials used to make the seats ensure the greatest comfort.” This makes the product’s benefits and quality stand out.
   Explanation: Something that is put on the market for sale, such as goods, services, or other valuable items, is called a product.
2. Price: “Priced at 2.5 crores; the company has to make decisions in respect of discounts to customers, credit terms, etc., so that the customers perceive the price to be in line with the value of the product.” This shows the pricing plan and the things that affect it.
   Explanation: A buyer pays a set amount for a good or service. This is called the market price.
3. Place (Distribution): “To make the flying car available to the target customers, DG Ltd. is in the process of selecting dealers or intermediaries to reach the customers, providing support to the intermediaries, etc.” This is about the distribution plan, which includes selecting the right middlemen.
   Explanation: It involves getting the right products and services to the right place so people can buy them.
4. Promotion: “To let the target customers know about the product’s availability, features, benefits, etc., and convince them to buy the flying car.” “DG Ltd. chose to go with digital marketing campaigns, press releases, and demos led by journalists and people with a lot of influence.” This shows the types of advertising used to promote the product.
   Explanation: It’s a group of advertising tools a business uses to achieve its messaging goals.