Marketing Mix Of Andre Volkoff Malaysia

Posted by Zander Henry on Aug-22-2018

1. marketing mix

1.1. Understanding the marketing mix

• The marketing mix is an important set of marketing tools and characteristics that a firm uses to increase penetration in the target market groups
• Using the marketing mix strategically includes focusing on seven important aspects of marketing and branding for an organization, namely: product, place, price, promotion, people, process, and physical evidence

1.2. Importance of marketing mix

• The marketing mix helps a company choose and decide on a suitable marketing strategy
• The marketing mix also helps a company in resource and budget allocation to different aspects of the marketing strategy and product development
• The marketing mix also allows a company to choose the right and effective marketing tactics for its promotional needs

2. Marketing mix for Andre Volkoff Malaysia

Andre Volkoff Malaysia makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Andre Volkoff Malaysia is presented below:

2.1. Product

Product is one of the most important components of the Andre Volkoff Malaysia Marketing mix. The distinctive characteristics of the product by Andre Volkoff Malaysia are:

2.1.1. Quality

• Andre Volkoff Malaysia maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Andre Volkoff Malaysia procures raw materials from reliable and trusted suppliers only
• These raw materials are processed under carefully maintained environments to maintain high and consistent quality of the products
• High quality promise and delivery also provides Andre Volkoff Malaysia with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Andre Volkoff Malaysia are relatively easy to use
• All products come with a user manual, which is easy to understand and which provides simple instructions for product use
• The consumers can also call the 24/7 helpline to understand details about product usage
• Also, retail representatives provide detailed instructions and explanations regarding the use of the product at the time of the sale

2.1.3. Portfolio broadness

• Andre Volkoff Malaysia has a broad portfolio of products
• The broad portfolio helps Andre Volkoff Malaysia in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Andre Volkoff Malaysia
• The broader product portfolio also adds more value for Andre Volkoff Malaysia

2.1.4. Benefits of product consumption

• Andre Volkoff Malaysia offers functional benefits to consumers of the product use
• These functional benefits are promised and delivered – however, they are also delivered by other similar products
• The distinguishing aspect of Andre Volkoff Malaysia is its delivery of emotional benefits to the consumer
• Products manufactured and sold by Andre Volkoff Malaysia promise consumers an ego boost, confidence, and security
• Andre Volkoff Malaysia also promises fulfilment of psychological needs on product consumption
• These psychological needs include, for example, the need for empathy, the need for belonging, and the need of feeling loved.

2.1.5. Different SKUs

• The products by Andre Volkoff Malaysia are available in different sizes
• Andre Volkoff Malaysia has made use of different SKUs to increase market penetration
• Different SKUs can be brought and used as per the consumption needs of the consumers, and the target markets
• Through the production of different SKUs, Andre Volkoff Malaysia has also increased the trial rate
• Different SKUs have also helped Andre Volkoff Malaysia improve its product accessibility

2.2. Price

Andre Volkoff Malaysia marketing mix focuses on a hybrid strategy for pricing to obtain maximum value for its products. The marketing mix Andre Volkoff Malaysia uses a combination of a number of techniques for pricing its products, which are detailed below:

2.2.1. Premium pricing

• By using premium pricing for some of its product ranges, Andre Volkoff Malaysia encourages favorable brand and product perceptions in target consumer groups
• Premium pricing for products also encourages a favorable quality perception of Andre Volkoff Malaysia products amongst consumers
• With premium prices, Andre Volkoff Malaysia has successfully also made some of its product ranges exclusive by restricting sales and production. This, in turn, leads to a perception g luxury in consumption products
• Premium prices add a touch of privilege and high value in Andre Volkoff Malaysia products
• Using elements of premium prices in other product ranges has also allowed Andre Volkoff Malaysia to maintain significantly high profits and a consistent business growth

2.2.2. Psychological pricing

• Since Andre Volkoff Malaysia has a number of different product ranges and product groups, the use of psychological pricing has been beneficial
• With the use of psychological pricing, Andre Volkoff Malaysia also successfully adds more value to its products from the point of view of customers
• Andre Volkoff Malaysia also gains higher sales with psychological pricing
• Consumer purchase a higher amount of Andre Volkoff Malaysia products because of its use of psychological pricing
• Andre Volkoff Malaysia is able to increase its target audience and broaden its target purchaser groups

2.2.3. Geographical pricing

• Andre Volkoff Malaysia is able to penetrate different regional markets optimally with the use of geographical pricing
• For offshore locations, geographical pricing also allows Andre Volkoff Malaysia to cover shipping and customs expenses
• Geographical pricing also allows Andre Volkoff Malaysia to maintain consistent revenue growth by altering pricing in different markets based on local currency value

2.2.4. Bundle pricing

• For some product ranges, Andre Volkoff Malaysia is also known to use bundle pricing strategy popularly
• Andre Volkoff Malaysia also uses bundle pricing during sales
• Bundle pricing increases the trial rate for consumers
• Andre Volkoff Malaysia experiences higher return on the cost of gaining a new customer
• With bundle pricing, Andre Volkoff Malaysia is also able to control costs and prices by lowering marketing and distribution expenses
• The use of bundle pricing also adds value to the umbrella brand name of Andre Volkoff Malaysia.

2.3. Placement

Andre Volkoff Malaysia places high importance on the placement of its products because it directly relates to accessibility for consumers.

2.3.1. Company-operated stored

• The company maintains stores operated by the management of Andre Volkoff Malaysia in all markets
• Company-operated stores give Andre Volkoff Malaysia higher control over operations as well as store layout and design
• Andre Volkoff Malaysia also interacts directly with the consumers and gathers important details regarding consumer behavior and consumer feedback through company-operated stores
• The company operated stores also give leverage to Andre Volkoff Malaysia in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

• Andre Volkoff Malaysia licensed stores also allow consumers to enjoy the various product offerings by the company
• Licensed stores also decrease the risk of financial and physical investment for Andre Volkoff Malaysia in unstable markets
• Licensed stores have also given Andre Volkoff Malaysia high business growth, and a boost for rapid market expansion and penetration
• Through licensed stores, Andre Volkoff Malaysia has also learned about local consumers and cultures
• Licensed stores and shops encourage sales of products by Andre Volkoff Malaysia by aligning it with local cultural values
• Licensed stores also help Andre Volkoff Malaysia in localizing its product offerings to enhance brand equity and band image

2.3.3. E-commerce

• Andre Volkoff Malaysia has developed a successfully operational website for online order placement and order tracking
• Andre Volkoff Malaysia also encourages sales through social media portals, where the company takes orders through direct messages, as well as through a mini-shop model
• The company also stocks products with online retailers such as Amazon and eBay, as well as smaller local online retailers as well
• Online retailing, and using the internet to make sales has boosted the sales for Andre Volkoff Malaysia and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Andre Volkoff Malaysia also places its products in supermarkets and hypermarkets across the country
• A large number of Andre Volkoff Malaysia target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Andre Volkoff Malaysia

2.3.5. Partner agents

• In offshore locations, Andre Volkoff Malaysia also makes use of partner agents for its products’ placement
• These partner agents are assessed and evaluated on strategic compatibility and reliance
• Andre Volkoff Malaysia contracts with partner agents in other countries and markets for its product placement to ensure quality control and terms of negotiation

2.4. Promotion

The marketing strategy for Andre Volkoff Malaysia also places high importance on the promotional tactics and strategies used. The promotional strategies allow the Andre Volkoff Malaysia to interact with the consumers and influence them directly. Andre Volkoff Malaysia uses a 360-degree approach in its promotional activities, and makes use of the following means of promotion:

2.4.1. Digital marketing

• Andre Volkoff Malaysia has corporate profiles on all social media websites and portals
• Andre Volkoff Malaysia uses its social media presence to directly, engage with consumers
• This direct engagement and interaction allows Andre Volkoff Malaysia to understand the customers, their needs and demands
• Andre Volkoff Malaysia uses this feedback and incorporates it in its broader marketing and organizational strategy
• Andre Volkoff Malaysia also maintains a corporate website – which highlights company information, product information as well as information regarding any ongoing campaigns and sales

2.4.2. Reward Programs

• Andre Volkoff Malaysia has a loyalty card program for its customers
• The loyalty card allows customers to redeem points in exchange for products or other exciting gifts, as directed by the company
• Each purchase is entered into the loyalty card by Andre Volkoff Malaysia and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Andre Volkoff Malaysia on high valued purchases
• Frequent usage and purchase of products by Andre Volkoff Malaysia also has rewards against the loyalty card

2.4.3. Community Influencers

• Andre Volkoff Malaysia makes use of community influencers as its on-ground promotional efforts
• Andre Volkoff Malaysia identifies strong and confident individuals to be brand ambassadors in their communities
• Andre Volkoff Malaysia provides these brand ambassadors and community influencers with its product range and invites them to use it themselves to see benefits

2.4.4. Conventional marketing

• The company places advertisements in consumer-related magazines. This largely includes home decor, and home management magazines
• Magazine ads are not very frequent, but appear twice every quarter of the fiscal year
• In high-density locations, Andre Volkoff Malaysia also makes use of out of house hoardings
• Hoardings increase visibility for Andre Volkoff Malaysia and also work towards building stronger brand recall
• Andre Volkoff Malaysia also produces TV advertisements
• All TV advertisements have an emotional appeal to them
• TV advertisements by Andre Volkoff Malaysia have progressed to include a slice of life elements and characteristics
• TV advertisements by Andre Volkoff Malaysia also highlight the functional benefits of the product

2.5. People

The marketing mix of Andre Volkoff Malaysia also places an essential focus on people development and people building. This is because Andre Volkoff Malaysia realizes the importance of employees in building strong customer relationships. Andre Volkoff Malaysia develops its employee and people by focusing on the following aspects:

2.5.1. Training

• Andre Volkoff Malaysia makes sure that all employees undergo regular training sessions for skill development and enhancement
• Trainings at Andre Volkoff Malaysia are not the only field related, but also focus on essential management and organizational skills
• Training sessions and activities at Andre Volkoff Malaysia also identify with the employee's own needs of progression, development and growth
• All training sessions and activities designed and carried out by Andre Volkoff Malaysia take into consideration business goals and objectives, as well as employee's personal goals and aspirations
• Andre Volkoff Malaysia, therefore, tries to develop the employee as an organizational member, as well as an individual
• All training is engaging, and hands-on so that employees do not only learn but also experience

2.5.2. Organizational ownership

• Andre Volkoff Malaysia works on strengthening the organizational commitment in its employees
• Andre Volkoff Malaysia builds employee loyalty so that people can reflect their optimal best at work
• Andre Volkoff Malaysia also understands that satisfied employees will lead to happy and satisfied customers
• Andre Volkoff Malaysia regularly shares different reward programs for employees, including stock sharing, so that their organizational commitment and ownership is enhanced
• Andre Volkoff Malaysia also includes employees in decision making at different managerial levels, and regularly takes their feedback for different projects and products – which also work towards building organizational ownership

2.5.3. Motivation building

• Andre Volkoff Malaysia employees are the face of the organization
• Andre Volkoff Malaysia are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Andre Volkoff Malaysia distributes
• Another source of motivation is appreciation programs where management appreciates and acknowledges the work and performance of different employees

2.5.4. Succession planning

• Andre Volkoff Malaysia remains one of the leading players in the industry also because of its focus on succession planning
• Andre Volkoff Malaysia conducts succession planning for all managerial levels
• Succession planning is done through internal promotions as well as external recruitments to meet the needs and demands of the vacant job position at Andre Volkoff Malaysia
• Strategic succession planning has allowed Andre Volkoff Malaysia to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Andre Volkoff Malaysia has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Andre Volkoff Malaysia are clearly defined and communicated to the employees
• Andre Volkoff Malaysia makes sure that employees are well trained, and knowledgeable of all processes relates to operations
• All stages of operational processes focus on maintaining a high quality level and standard of the products
• Systematic process re in place for all operation – from procurement to the final sale of the products
• All operational processes are maintained, checked, and uploaded through the internal portal of the organization for supervisory purposes
• The use of online portals for operational processes also builds a strong backup for managerial purposes at Andre Volkoff Malaysia

2.6.2. People Management

• Andre Volkoff Malaysia has also defined clear processes for people management through streamlining its human resource management department
• Andre Volkoff Malaysia has defined guidelines regarding recruitment, training, compensation management, and performance appraisal of employees
• All people related processes are not only communicated to the management and supervisors, but also to employees to create a sense of transparency, and an environment of trust
• Progressive people management systems and processes have allowed Andre Volkoff Malaysia to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Andre Volkoff Malaysia also has defined policies and processes for managing and maintaining quality
• All products undergo triple quality checks to ensure that customers receive the best product
• In addition to quality checks at the production and distribution level, the management has also placed separate quality maintenance and quality check department
• The quality maintenance department has experts who make sure that not only the final product but also the processes involved in producing the product were infused with quality

2.6.4. Store management

• Andre Volkoff Malaysia manages store management through stringent and closely monitored policies and processes
• These processes relate to not only the floor and space design but also to the performance of the employees at the store
• The processes for store management also regularly monitor footfall and work on strategies to increase footfall through different tactics, and changes in the store design and store management
• The company also has a systematic process for customers who interact with the products and feel them before making the purchase
• The final sale at the store is also clearly defined – for the employees and the customers both
• Processes and policies are important for Andre Volkoff Malaysia for maintaining quality of the products, and for ensuring that the company does not experience any unnecessary expenses and costs

2.7. Physical evidence

The physical evidence is also important in the marketing strategy for Andre Volkoff Malaysia as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Andre Volkoff Malaysia include:

2.7.1. Store atmosphere

• The store design and management for Andre Volkoff Malaysia is exciting and creative
• The store atmosphere makes the customers feel relaxed and comfortable –so that they can interact with, and enjoy product offerings by Andre Volkoff Malaysia at ease
• The store design is also important for Andre Volkoff Malaysia because it controls the level and nature of experience and interaction that the customers have with the product and the brand
• With company-operated stores, it is easier for Andre Volkoff Malaysia to control and manage the store atmosphere to be able to positively influence customers and to be able to appeal to them emotionally

2.7.2. Packaging

• Andre Volkoff Malaysia has unique packaging, which is different from other players in the industry
• Andre Volkoff Malaysia also has a vibrant touché to its packaging, which is regularly changed in terms of colors and patterns
• The logo for the company is simple, and recognizable by the consumers easily
• The brand logo has also become a symbol of confidence, ambition, and aspiration for consumers who use products by Andre Volkoff Malaysia
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Andre Volkoff Malaysia

2.7.3. Website design

• The website design is simple and easy to use
• Andre Volkoff Malaysia has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Andre Volkoff Malaysia also has the brand logo, and is packaged similarly to the products offered by the company
• The design patterns, and color change on the website with changes to the product packaging to match various campaign needs and sale offerings