M RahmanMarketing mix of Walt Disney Company (7Ps of Disney)
This article offers a comprehensive analysis of the marketing mix of Walt Disney Company (7Ps of Disney). The marketing mix is a set of techniques that companies use to attract customers and increase sales of their products or services. It consists of 7Ps i.e. product, price, place, promotion, people, process, and physical environment. It should be mentioned that the Walt Disney Company implements some brilliant marketing techniques that help it reach out to millions of customers across the world. This article sheds lights on those techniques.
Product strategy of Walt Disney Company
The Walt Disney Company is commonly known as Disney. It is an American multinational mass media and entertainment conglomerate. It has a wide variety of product lines that go beyond its initial media and entertainment products. Its products and services include but not limited to toys, books, magazines, merchandise, animation films, audio CDs, games, sports equipment, tv networks, parks and resorts, and online video content (Disney, 2022).
Disney’s product strategy is to offer products and services that are designed to appeal to all age groups and types of people. It has been successful in offering products that appeal to both children and adults. It also provides various options for people with different taste preferences. However, McCaffery (2021) reports that Disney increasingly targets people with more money to spend, with services such as private tours, dinners with princesses, and the opening of a five-star Four Seasons resort.
With so many products and brands coming together under one company, it is essential for Disney to employ a strategy to ensure that the various products stand out and are promoted. Its strategy for this is to use a combination of characters, storylines, and themes that appeal to the masses.
However, some of the products and services of Disney have been criticised for several reasons. For instance, some of its animated feature films have been accused of plagiarising existing works. Film critics have criticised for the stereotypical portrayal of non-white characters. Some writers have also written about a perceived decline in value and quality at Disney’s theme parks,
Pricing strategy of Walt Disney Company
Price is a key element in this marketing mix of Walt Disney Company (7Ps of Disney). The pricing strategy of Disney is well thought out. It sets its prices according to the demands of the market. It also regularly surveys customers and reviews the trends in the prices of its products.
Disney has been successful in maintaining high prices for some its products because there is a great demand for these products among the target customers. The demand for its merchandise is high because these products make excellent gifts. Additionally, people are willing to pay a lot of money for gifts associated with their favourite Disney characters.
McCaffery (2021) reports that Disney has also been using dynamic pricing model for quite some time. For instance, tickets for Disney World and Disneyland are broken out into three categories: ‘value’, ‘regular’, and ‘peak’ times. This means that tickets during the busiest weeks of the year are more expensive than the quieter ones. The author brands the Disney parks as notorious for raising their ticket prices and raising them often.
Place strategy of Walt Disney Company
Disney has a strong presence in many countries around the world. As it has diverse product/service lines, the places that it uses to distribute them are varied. For example, customers can buy its products and services from movie theatres, retail stores, official websites, websites of authorised sellers, and mobile apps. It should be mentioned that global supply chain crisis may affect its operations to a big extent.
Promotion strategy of Walt Disney Company
Promotion is another important element of this marketing mix of Walt Disney Company (7Ps of Disney). Disney uses various marketing tools to attract new customers and increase sales. It advertises in magazines, newspapers, and television channels. However, some of its adverts e.g. the recent ‘welcome home’ have been criticised for various reasons.
Disney endorses celebrities to promotes its products and services. It also relies on word-of-mouth marketing to a great extent. People who visit its parks, or people who watch or listen to its entertainment services, tend to tell their friends and family about it. Often people share their experience on social media which is is referred to as ‘electronic word of mouth’ or ‘social media marketing’.
People strategy of Walt Disney Company
Around 195,000 people work for the Walt Disney Company (Disney, 2022). The company hires people who are enthusiastic about their jobs. They are hired with a promise of job security. The work force is diverse and very talented as well. Unsurprisingly, Disney is among LinkedIn’s list of top companies. However, frustration of some its employees over issues of working conditions and wages can be found online.
Process strategy of Walt Disney Company
Different business functions have different processes. For instance, buying Disney’s shares follows a process. Unlike many other companies, its shares can be purchased directly from it. Investors need to complete an enrolment form and make an initial investment. They can also buy individual stocks with a brokerage account.
Physical environment strategy of Walt Disney Company
Physician environment is the final part of discussion in this marketing mix of Walt Disney Company (7Ps of Disney). Disney characters and merchandise are widely recognized worldwide. Its parks are excellent with scintillating attractions with dining, entertainment, and shopping amenities. Indeed, many people are attracted to the company because of its vivid physical environment.
Summary of the marketing mix of Walt Disney Company (7Ps of Disney)
Disney’s marketing mix strategy is very strong as it has used a combination of characters, storylines, and themes that appeal to the masses. However, there are some limitations identified above that need to be addressed so that its current progress continues well.
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Last update: 21 June 2022
References:
Disney (2022) About the Walt Disney Company, available at: https://thewaltdisneycompany.com/about/ (accessed 21 June 2022)
McCaffery, J. (2021) This is why Disney Park tickets are so expensive, available at: https://www.rd.com/article/walt-disney-world-tickets-expensive/ (accessed 20 June 2022)
Author: M Rahman
M Rahman writes extensively online and offline with an emphasis on business management, marketing, and tourism. He is a lecturer in Management and Marketing. He holds an MSc in Tourism & Hospitality from the University of Sunderland. Also, graduated from Leeds Metropolitan University with a BA in Business & Management Studies and completed a DTLLS (Diploma in Teaching in the Life-Long Learning Sector) from London South Bank University.
