Marketing Mix Of Sharekhan and 7Ps (Updated 2024)

The Marketing mix of Sharekhan analyses the 7Ps of Sharekhan, which includes the Product, Price, Place, Promotion, People, Physical Evidence, and Process of Sharekhan. Sharekhan is a commercial site of Indian origin. Sharekhan is a member of the Bombay Stock Exchange, the National Stock Exchange, and the country’s two leading commodity exchanges, the NCDEX and MCX. It deals in financial services and is associated with the trading industry. Sharekhan was founded in February 2000 by its founder, Shripal Morakhia.

It was a subsidiary of its parent company, SSKI Group, but in 2016, on 23rd November, its ownership changed hands, and the company became a subsidiary of its owner company, BNP Paribas SA. Sharekhan is a user-friendly facility for online trading that has created a distinctive name for itself. It faces stiff competition from several companies and some of them are as follows-

• Angel Broking
• India Bulls
• Reliance Capital
• IIFL
• Religare
• ICICI Web Trade Ltd
• Kotak Securities Ltd
• MotilalOswal Securities Ltd

About Sharekhan

• Type: Retail brokerage firm
• Industry: Financial services
• Founded: 2000
• Founder: Shripal Morakhia
• Headquarters: Mumbai, India
• Area served: India
• Key people:  Vinod Kumar Jatia (Chairman) and Jaideep Arora (CEO)
• Number of employees: 4,800+

Sharekhan Product Strategy

Sharekhan is an online portal available in English and written in JavaScript. It is one of India’s leading broking houses operating via the online retail industry. Sharekhan offers a complete package of stock trading and investment solutions and secures high returns on securities and investments. It has an analysis and research team that tracks performance trends and offers valuable advice. Sharekhan has implemented 3-in-1 concept and integrated Demat account, trading account and linked savings account.

Sharekhan offers a comprehensive mix of products and services designed to meet the varied needs of its clients.

The new Product Mix of Sharekhan in 2024 is as follows (Source).

• Currency Trading: Providing an ecosystem for trading in currency pairs with free recommendations, strategies backed by research, and powerful trading platforms.
• Mutual Funds: A wide array of mutual fund products with personalized service support, research-backed recommendations, and innovative tools.
• IPO (Initial Public Offerings): Simplified three-step investment process in IPOs, enhanced by UPI and digital platforms.
• Fixed Deposits and Bonds: A selection of fixed-income instruments, including sovereign gold bonds, corporate fixed deposits, government securities, capital gains bonds, and non-convertible debts.
• NRI Services: Tailored investment solutions for Non-Resident Indians (NRIs), leveraging digital innovation and comprehensive research.
• Specialized Services for Various Client Segments, Including ROAR (to get started in the capital markets), Sharekhan Classic for trading and investing, and Sharekhan One for ultra-HNI individuals and large families, offering in-house and researched third-party investment solutions.
• Portfolio Management Services (PMS): Custom investment management services designed to align with individual financial strategies and goals.
• Futures & Options (F&O) Solutions: A comprehensive suite of products for trading in the Derivatives segment, including advanced tools and proprietary research.
• Algorithmic Trading Solutions: Automated trading solutions to maximize the potential of trading strategies.
• Pattern Finder: A tool for analyzing stocks and indices to extract profitable trading opportunities.
• Margin Funding: Products that enable funding for new buy trades in the Equity Cash segment with an upfront margin.

Sharekhan  Pricing Strategy

Sharekhan’s pricing strategy is meticulously designed to cater to a broad spectrum of investors and traders, emphasizing flexibility, value, and competitive advantage. Here’s a breakdown of its pricing strategy.

• Value-Centric Pricing: Sharekhan adopts a value-centric approach to pricing, ensuring that clients receive exceptional value for the services they opt for. This strategy is about being competitively priced and offering a superior trading experience, comprehensive market research, and personalized customer support. It’s about providing more for the price rather than just lowering it.
• Tiered Pricing Structure: The tiered pricing structure is a key component of Sharekhan’s strategy. This model allows them to serve a diverse client base, from casual investors to active traders and large institutions. By offering different pricing tiers, Sharekhan ensures that each client can find a service package that fits their trading volume, frequency, and service requirements, maximizing value at every level.
• Transparent Fees: Transparency is at the core of Sharekhan’s pricing strategy. The company makes a significant effort to ensure that all fees, charges, and commissions are communicated upfront. This transparency builds trust and helps clients make informed decisions, aligning with the modern investor’s expectations for clarity and fairness.
• Competitive Commissions: Sharekhan positions its commission rates to be competitive. By benchmarking its fees against key competitors, Sharekhan ensures it remains an attractive option for new and experienced traders. The focus is on balancing competitive pricing and the high-quality services offered.
• Free Educational Resources: Part of Sharekhan’s pricing advantage includes providing free educational resources, webinars, and workshops. This approach adds value to their offerings, encouraging long-term relationships with clients. It’s a strategic move that educates the client base and positions Sharekhan as an industry leader committed to customer success beyond just transactions.
• Technology-Driven Efficiencies: Sharekhan leverages technology to streamline operations and reduce costs, savings that can be passed on to clients through competitive pricing. Their investment in technology enhances the trading experience, offering advanced tools and platforms without imposing high costs on users. This strategic use of technology supports a pricing strategy that balances advanced features with cost efficiency.

Sharekhan  Place Strategy

Sharekhan is in India, with its headquarters based in Mumbai, Maharashtra. It has one of the most robust IT infrastructures, including an extensive network of branches across several parts of India. Its Pan-India presence consists of 1,500 outlets in nearly 450 cities, serving approximately 950,000 customers. Sharekhan has a capable, trained, and experienced workforce that enables the smooth running of its organization. It has extended its presence to international markets in Oman and UAE.

Here’s the place strategy of Sharekhan.

• Extensive Physical Presence: Sharekhan boasts a vast network of branches and franchises spread across over 575 cities in India, ensuring easy accessibility for in-person consultations and services for a wide demographic of investors.
• Digital and Online Platforms: Emphasizing digital innovation, Sharekhan offers robust online trading platforms like TradeTiger, Sharekhan App, and its website, catering to the tech-savvy investor looking for convenience and real-time access to markets.
• International Reach for NRIs: Catering to the global Indian diaspora, Sharekhan provides specialized NRI services, allowing non-resident Indians to invest in the Indian markets seamlessly from anywhere in the world.
• Collaboration with Fintech and Startups: By partnering with over 250 FinTech and startup companies, Sharekhan integrates next-gen technology solutions, enhancing the customer experience and expanding its reach to tech-oriented investors.
• Education Centers and Workshops: Sharekhan places a strong emphasis on investor education through Sharekhan Classroom, workshops, and webinars, making financial education accessible to investors at various locations and through online platforms.

Sharekhan Promotion Strategy

Sharekhan has adopted several promotional activities to increase its brand awareness. It has been one of the most visible and recognized brands in the Indian market since its inception. The company emphasizes personal contact to serve better by maintaining direct contact. Sharekhan has adopted several advertising campaigns, mainly through social media platforms like e-mails and online businesses.

A wonderful webinar, “Ignite,” was started for customer attraction through digital marketing. The “Ignite” program was started using digital marketing as it was very less expensive, new in the market, and aware of the stock market. It has also taken help of print media via newspapers to gain further penetration in the market. A Comparative Analysis of Sharekhan and Other Leading Brokerage Firms in India Document 19 pages A Guide to Online Share Trading. To increase its brand visibility, it organizes presentations and seminars that give it maximum exposure. Sharekhan has an apt tagline: your guide to the financial jungle.

Some Recent Video ads and Print ads for Sharekhan are:

Sharekhan People Strategy

The “People” aspect of Sharekhan’s service marketing mix underscores human resources’ significance and customer interactions’ quality in delivering their services. Here are key points highlighting the “People” component of Sharekhan:

• Diverse and Skilled Workforce: Sharekhan employs a large team of professionals across various functions, including trading experts, financial advisors, research analysts, and customer service representatives, ensuring a high level of expertise and service delivery.
• Customer-Centric Approach: The company fosters a culture that prioritizes customer satisfaction, with employees trained to provide personalized services tailored to meet individual investor needs and objectives.
• Continuous Training and Development: Sharekhan invests in regular training and development programs for its employees to keep them abreast of the latest market trends, technologies, and regulatory changes, enhancing the quality of service provided to clients.
• Accessibility and Responsiveness: Sharekhan’s team is highly accessible to clients through multiple channels, including in-person branches, online platforms, and customer service lines, ensuring prompt and efficient resolution of queries and issues.
• Commitment to Integrity and Transparency: The people at Sharekhan are committed to maintaining high ethical standards, integrity, and transparency in all client interactions, reinforcing trust and long-term relationships.

Sharekhan Process Strategy

The “Process” component of Sharekhan’s service marketing mix highlights the operational aspects and the customer journey, emphasizing efficiency, simplicity, and customer satisfaction. Here are the key points regarding Share khan’s processes:

• Account Opening Process: Sharekhan has streamlined its account opening process, making it quick and easy for clients to start trading. This process is supported by digital platforms, allowing for online documentation and verification to minimize paperwork and reduce turnaround times.
• Trading Platforms: Sharekhan offers sophisticated yet user-friendly trading platforms like TradeTiger, Sharekhan App, and its website, designed to facilitate seamless trading experiences for users of all levels, from beginners to advanced traders.
• Customer Service and Support: The company has established a comprehensive customer support system that includes toll-free emails, email support, live chat, and in-person assistance at branches, ensuring clients’ queries and issues are resolved promptly.
• Investment and Trading Processes: Sharekhan provides various tools and resources, including real-time market data, research reports, and analysis tools, to help clients make informed investment decisions. The process is designed to be transparent and informative, empowering clients to trade confidently.
• Educational Services: Through Sharekhan Classroom, workshops, and webinars, the company offers structured educational programs to enhance trading and investment knowledge among its clients. This continuous learning process is integral to helping clients navigate the markets more effectively.
• Feedback and Continuous Improvement: Sharekhan strongly emphasizes client feedback to refine and improve its services continually. This feedback loop is essential to their process, ensuring client insights drive service enhancements and innovations.

Sharekhan Physical Evidence Strategy

The “Physical Evidence” element in Sharekhan’s service marketing mix involves all the tangible aspects that customers interact with, which help to enhance the customer experience and build the company’s image. Here are key points highlighting the physical evidence of Sharekhan:

• Branded Physical Locations: Sharekhan’s extensive network of branches across various cities provides a tangible representation of the brand, where clients can experience the company’s services first-hand, engage with financial advisors, and participate in educational sessions.
• Professional Website and Mobile Application: The sophisticated design and user-friendly interface of Sharekhan’s website and mobile app serve as critical physical evidence of their commitment to providing high-quality, accessible trading solutions.
• Trading Platforms: Advanced trading platforms like TradeTiger and Sharekhan App are crucial physical evidence of Sharekhan’s technological prowess, offering users a seamless trading experience.
• Marketing and Promotional Materials: Sharekhan’s marketing materials, including brochures, advertisements, and promotional videos, are designed to convey the company’s value proposition and services effectively, reinforcing the brand image.
• Customer Service and Interaction Points: The professionalism and branding observed at customer service desks, whether on the phone, email, or email, contribute to the physical evidence by enhancing the customer’s perception of Sharekhan’s reliability and service quality.
• Educational Content and Seminars: The physical or digital materials provided during educational seminars, workshops, and webinars, including presentations, guides, and reports, further solidify Sharekhan’s image as an expert and trustworthy financial services provider.

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