Marketing Essentials: VISA Inc. Marketing Mix and Planning Analysis

This report provides a comprehensive analysis of VISA Inc.'s marketing strategies, focusing on the application of the marketing mix and the development of a basic marketing plan. It begins with an introduction to marketing principles and their relevance to organizational performance, using VISA Inc. as a case study. The report compares how VISA Inc. and Capital One apply the marketing mix (product, price, place, promotion, physical evidence, process, and people) to achieve their business objectives. It then produces and evaluates a basic marketing plan for VISA Inc., including an executive summary, vision, mission, objectives, strategies (marketing mix and distribution), tactics (STP and low-cost tactics), financial projections, and measurement and control activities. The plan focuses on introducing cryptocurrency and blockchain services to enhance VISA Inc.'s market position and profitability. The report concludes that a well-defined marketing mix and strategic planning are essential for organizations to meet customer demands, adapt to changing environments, and achieve their business goals. Desklib provides access to this document along with a wealth of study resources, including past papers and solved assignments, to aid students in their academic pursuits.

Marketing
essentials
1

Table of Contents
Table of Contents.............................................................................................................................2
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Covered in PPT............................................................................................................................1
TASK 2............................................................................................................................................1
Compare the ways in which different organisations apply the marketing mix to the marketing
planning process to achieve business objectives.........................................................................1
TASK 3............................................................................................................................................3
Produce and evaluate a basic marketing plan for an organisation...............................................3
CONCLUSION................................................................................................................................6
REFERENCE..................................................................................................................................7
2

INTRODUCTION
Marketing is the activity, set of institution and process which uses by organizations to sale
their products and services. This is important for each industry to apply the marketing and its
related activities which can help to develop the organizational performance and productivity.
This is set of processes for communicating, creating, and managing the functions by delivering
value to customers (Venkatesan, Farris, and Wilcox, 2021). For each organization it is essential
to use the different strategy to market which can help to reach the targeted customers and
manage the higher performance. To understand about this VISA Inc. has been taken that is
American multinational financial service corporation which was founded in 1958 by Dee Hock.
The main purpose of organization is to provide the financial services by influencing customers
and selling them products as well as services. The report covers explanation about role of
marketing, interrelation with other functional units, comparison of ways in which company use
elements of marketing mix, and evaluation of basic marketing plan for developing organizational
activities.
TASK 1
Covered in PPT
TASK 2
Compare the ways in which different organisations apply the marketing mix to the marketing
planning process to achieve business objectives.
Marketing mix – This refers to the set of actions, tactics and strategies which are used by
business organization for the purpose of reaching customers and maintain higher performance
(Rangaswamy, and et.al., 2020). The marketing mix of VISA Inc. and Capital One are defined
as:
Basis VISA Inc. Capital One
Product This is world famous electronic fund
transfer and banking service
organization. This mainly operates
in credit cards, prepaid card, and
debits cards. This influences the
Capital One offers a broad range
of financial products and
services to their clients such as
credit cards, Venture cards,
Quicksilver rewards and venture
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number of customers and develop
the business performance.
One rewards. This focuses on
simple and innovative products.
Price VISA Inc. makes contract with
banks and charges fees as per
transaction. The management
analysis the market and make efforts
to launch new services at affordable
cost (Marketing mix of VISA Inc.
2021).
The organization offers premium
range of credit cards, and give
them rewards. This can help to
attain competitive edge mostly
considering revenues from credit
cards.
Place VISA Inc. has global presence
across North America, Asia, South
America, and Europe that helps to
fill the customer demand at the spot
and manage the higher productivity.
It has more than 1.9 million ATMs
spread across 200 countries.
Capital One has 800+ branches
considering 10 Café style
locations. This organization also
serves in Canada and UK. This is
a kind of bank that offers
banking services to its potential
customers (Hazzam, and
Wilkins, 2021).
Promotion VISA Inc. promote its services by
sponsoring international events,
Olympics, World Cup and others
activities which create the awareness
of people and develop the
organizational performance by
increasing sales (Diachuk,
Britchenko, and Bezpartochnyi,
2019).
Capital One focuses on
promotional strategy with the
help of social media, internet
marketing, and organizing event
for the purpose of developing
their business and maintain
higher performance.
Physical
evidence
VISA has headquartered at
California, in USA. Its presence on
Credit cards and debit cards where
more than 35 million merchants
accepts VISA service by becoming
The headquarter of Capital One
at financial corporation, McLean.
In relation to physical evidence
of company is websites that
consider all information
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debit and credit card holders. regarding brand and its services
(Velychko, Velychko, Butko,
and Khalatur, 2019).
Process The organization tied up with
leading global finance company uses
the digital process, security process,
and financial process which is used
to develop business performance.
The organization is focusing on
digital banking which can help to
deliver new tech based features
and offer real time services. This
also offer security patterns
instead of password that helps to
secure transaction.
People VISA Inc. is the largest brand that
employs more than 11000 people in
their organization and providing
better services (Boateng, 2019).
Capital One offers retail banking,
loans, credit cards, and saving
services where almost 45000
employees are working
continuously.
TASK 3
Produce and evaluate a basic marketing plan for an organisation.
Marketing planning:
Marketing plan is most important for industry as it identify what customers wants and
how they could be satisfied that can help to improve the brand image and maintain higher
performance. The plans, objectives, and strategies are linked to each other such as management
of VISA Inc. decide the goal of organization, formulate plans to reach customers and uses the
strategies to sale the services in higher range which can help to influence target audience and
helps to improve the organizational performance. This also bring the changes in their
performance and profitability by selling services in changing environment and attain the business
goals (About VISA Inc. 2021).
EXECUTIVE SUMMARY VISA Inc. is the American multinational financial services
industry that provides the facilities of electronic fund
transfer, bank loan, credit cards, cheque clearing and others
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services which can help to develop the organizational
productivity. Now company is planning to providing crypto
currency and block chain services. The people who are
interested to invest in crypto currency they can use the VISA
application to deal (Martin, Javalgi, and Ciravegna, 2020).
The block chain service is related to banking and lending
services that would help its customers by reducing
counterparty risk. For implementing this plan and running
business follows stages needed to be follow such as:
Vision “To be the best way to pay and be paid, for everyone,
everywhere guides our purpose”.
Mission To become global payment technology organization working
to enable consumers, businesses, banks, and government to
use digital currency.
Objectives The SMART Objectives of VISA Inc. are as defined:
 To target the audience by introducing new financial
services up to 2023.
 To increase the organizational sales by offering
services within 2023.
 To become the largest banking sector in global
market within 2025.
Strategy Marketing mix: Whenever organization launches new
products and services then marketing mix is considered as
effective strategy that uses to influence the customers. This
involves product, price, place, and promotion. The new
product of VISA Inc. is to provide block chain and crypto
currency services which would help to influence the
customers. The price of such services will be affordable for
each customer. Thus, this strategy would help to reach the
decided goals.
Distribution strategy: It has seen that distribution of
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products and services is important strategy which should be
use by organization for the purpose of selling its products.
VISA Inc. used social media, internet and online methods to
distribute its services in changing environment (Nsabimana,
and Zaveri, 2019).
Tactics STP: The STP of VISA Inc. as tactics are explained below:
Segmentation: VISA Inc. will focus on geographic and
demographic segmentation where it introduces its services
properly.
Targeting: The organization is targeting the 15 to 60 years of
age people who uses online services and wants to trade in
crypto currency.
Positioning: The aim of VISA inc.is to lead the market by
offering high range of financial services effectively.
Low cost tactics: The financial services which are providing
by VISA Inc. will be at lower cost as based on internet that
would help to increase the business performance (Ellram,
and Murfield, 2019).
Financial projection To launch Block chain and Crypto current trading
services, expenses will be incurred that are as defined:
Activities Amount (£)
Research and development £ 5000
Introduce new service s £ 10000
Marketing activity £ 5000
Distribution service £ 2000
Risk reserve £ 10000
Total £ 32000
Measurement & Control To measure the performance and operating this plan KPI tool
will be use by marketing and cost management of VISA Inc.
This tool will help to analysis financial and non-financial
performance in introducing new services that can help to
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increase the sales and profitability (Hazzam, 2020).
The cost profit analysis of VISA Inc. states that organization is not having debts and
customer base are increasing day by day that would help to increase the organizational sales and
profitability.
CONCLUSION
From the report it can be concluded that marketing is the marketing mix is the important
aspects for any organization as it understands the demand and introduce the products in changing
environment. For each industry it is needed to have proper knowledge about market and how to
manage each function. Business plan is use to identify the strategies and tactics which supports
to attain the organizational goals. The steps of marketing mix are product, price, place,
promotion, process, physical evidence, and people that can help to managing higher
performance.
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REFERENCE
Books and Journal
Venkatesan, R., Farris, P. W. and Wilcox, R. T., 2021. Marketing Analytics: Essential Tools for
Data-driven Decisions. University of Virginia Press.
Hazzam, J. and Wilkins, S., 2021. International marketing capabilities development: The role of
firm cultural intelligence and social media technologies. Journal of Marketing Theory
and Practice, pp.1-17.
Diachuk, I., Britchenko, I. and Bezpartochnyi, M., 2019. Content marketing model for leading
web content management. Advances in Social Science, Education and Humanities
Research. 318. pp.119-126.
Velychko, O., Velychko, L., Butko, M. and Khalatur, S., 2019. Modelling of strategic
managerial decisions in the system of marketing logistics of enterprise. Innovative
Marketing. 15(2). pp.58-70.
Nsabimana, V. and Zaveri, B., 2019. Global Marketing Strategy in Digital Era. Journal of
Marketing Vistas. 9(2). pp.52-60.
Ellram, L. M. and Murfield, M. L. U., 2019. Supply chain management in industrial marketing–
Relationships matter. Industrial Marketing Management. 79. pp.36-45.
Hazzam, J., 2020. International Marketing Capabilities in the Digital Age: The Role of Social
Media Technologies and Firm Cultural Intelligence (Doctoral dissertation, The British
University in Dubai (BUiD)).
Rangaswamy, A., and et.al., 2020. The role of marketing in digital business platforms. Journal of
Interactive Marketing. 51. pp.72-90.
Martin, S. L., Javalgi, R. R. G. and Ciravegna, L., 2020. Marketing capabilities and international
new venture performance: The mediation role of marketing communication and the
moderation effect of technological turbulence. Journal of Business Research, 107, pp.25-
37.
Boateng, S. L., 2019. Online relationship marketing and customer loyalty: a signaling theory
perspective. International Journal of Bank Marketing.
Khorsheed, R. K., Othman, B. and Sadq, Z. M., 2020. The Impacts of Using Social Media
Websites for Efficient Marketing. Journal of Xi'an University of Architecture &
Technology. 12(3). pp.2221-2235.
Verhoef, P. C. and Bijmolt, T.H., 2019. Marketing perspectives on digital business models: A
framework and overview of the special issue.
Thaichon, P., and et.al., 2019. Online relationship marketing: evolution and theoretical insights
into online relationship marketing. Marketing Intelligence & Planning.
Pal, S., 2019. Understanding the impact of marketing transformation on sales and marketing
alignment. Journal of Brand Strategy, 8(1), pp.48-57.
Vieira, V. A., and et.al., 2019. In pursuit of an effective B2B digital marketing strategy in an
emerging market. Journal of the Academy of Marketing Science. 47(6). pp.1085-1108.
Online
About nature and concept of marketing. 2019. [Online]. Available through:
< https://www.gktoday.in/topic/nature-and-scope-of-marketing/>
About VISA Inc. 2021. [Online]. Available through:
<comparably.com/companies/visa/mission>
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Marketing mix of VISA Inc. 2021. [Online]. Available through:
https://www.mbaskool.com/marketing-mix/services/16719-visa.html
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