Marketing Mix Of Arcelor Mittal Takeover

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 Arcelor Mittal Takeover

Arcelor Mittal Takeover makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Arcelor Mittal Takeover is presented below:

2.1. Product

Product is one of the most important components of the Arcelor Mittal Takeover Marketing mix. The distinctive characteristics of the product by Arcelor Mittal Takeover are:

2.1.1. Quality

• Arcelor Mittal Takeover maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Arcelor Mittal Takeover 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 Arcelor Mittal Takeover with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Arcelor Mittal Takeover 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

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

2.1.4. Benefits of product consumption

• Arcelor Mittal Takeover 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 Arcelor Mittal Takeover is its delivery of emotional benefits to the consumer
• Products manufactured and sold by Arcelor Mittal Takeover promise consumers an ego boost, confidence, and security
• Arcelor Mittal Takeover 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 Arcelor Mittal Takeover are available in different sizes
• Arcelor Mittal Takeover 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, Arcelor Mittal Takeover has also increased the trial rate
• Different SKUs have also helped Arcelor Mittal Takeover improve its product accessibility

2.2. Price

Arcelor Mittal Takeover marketing mix focuses on a hybrid strategy for pricing to obtain maximum value for its products. The marketing mix Arcelor Mittal Takeover 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, Arcelor Mittal Takeover encourages favorable brand and product perceptions in target consumer groups
• Premium pricing for products also encourages a favorable quality perception of Arcelor Mittal Takeover products amongst consumers
• With premium prices, Arcelor Mittal Takeover 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 Arcelor Mittal Takeover products
• Using elements of premium prices in other product ranges has also allowed Arcelor Mittal Takeover to maintain significantly high profits and a consistent business growth

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

• Arcelor Mittal Takeover is able to penetrate different regional markets optimally with the use of geographical pricing
• For offshore locations, geographical pricing also allows Arcelor Mittal Takeover to cover shipping and customs expenses
• Geographical pricing also allows Arcelor Mittal Takeover 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, Arcelor Mittal Takeover is also known to use bundle pricing strategy popularly
• Arcelor Mittal Takeover also uses bundle pricing during sales
• Bundle pricing increases the trial rate for consumers
• Arcelor Mittal Takeover experiences higher return on the cost of gaining a new customer
• With bundle pricing, Arcelor Mittal Takeover 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 Arcelor Mittal Takeover.

2.3. Placement

Arcelor Mittal Takeover 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 Arcelor Mittal Takeover in all markets
• Company-operated stores give Arcelor Mittal Takeover higher control over operations as well as store layout and design
• Arcelor Mittal Takeover 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 Arcelor Mittal Takeover in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

• Arcelor Mittal Takeover 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 Arcelor Mittal Takeover in unstable markets
• Licensed stores have also given Arcelor Mittal Takeover high business growth, and a boost for rapid market expansion and penetration
• Through licensed stores, Arcelor Mittal Takeover has also learned about local consumers and cultures
• Licensed stores and shops encourage sales of products by Arcelor Mittal Takeover by aligning it with local cultural values
• Licensed stores also help Arcelor Mittal Takeover in localizing its product offerings to enhance brand equity and band image

2.3.3. E-commerce

• Arcelor Mittal Takeover has developed a successfully operational website for online order placement and order tracking
• Arcelor Mittal Takeover 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 Arcelor Mittal Takeover and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

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

2.3.5. Partner agents

• In offshore locations, Arcelor Mittal Takeover also makes use of partner agents for its products’ placement
• These partner agents are assessed and evaluated on strategic compatibility and reliance
• Arcelor Mittal Takeover 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 Arcelor Mittal Takeover also places high importance on the promotional tactics and strategies used. The promotional strategies allow the Arcelor Mittal Takeover to interact with the consumers and influence them directly. Arcelor Mittal Takeover uses a 360-degree approach in its promotional activities, and makes use of the following means of promotion:

2.4.1. Digital marketing

• Arcelor Mittal Takeover has corporate profiles on all social media websites and portals
• Arcelor Mittal Takeover uses its social media presence to directly, engage with consumers
• This direct engagement and interaction allows Arcelor Mittal Takeover to understand the customers, their needs and demands
• Arcelor Mittal Takeover uses this feedback and incorporates it in its broader marketing and organizational strategy
• Arcelor Mittal Takeover 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

• Arcelor Mittal Takeover 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 Arcelor Mittal Takeover and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Arcelor Mittal Takeover on high valued purchases
• Frequent usage and purchase of products by Arcelor Mittal Takeover also has rewards against the loyalty card

2.4.3. Community Influencers

• Arcelor Mittal Takeover makes use of community influencers as its on-ground promotional efforts
• Arcelor Mittal Takeover identifies strong and confident individuals to be brand ambassadors in their communities
• Arcelor Mittal Takeover 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, Arcelor Mittal Takeover also makes use of out of house hoardings
• Hoardings increase visibility for Arcelor Mittal Takeover and also work towards building stronger brand recall
• Arcelor Mittal Takeover also produces TV advertisements
• All TV advertisements have an emotional appeal to them
• TV advertisements by Arcelor Mittal Takeover have progressed to include a slice of life elements and characteristics
• TV advertisements by Arcelor Mittal Takeover also highlight the functional benefits of the product

2.5. People

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

2.5.1. Training

• Arcelor Mittal Takeover makes sure that all employees undergo regular training sessions for skill development and enhancement
• Trainings at Arcelor Mittal Takeover are not the only field related, but also focus on essential management and organizational skills
• Training sessions and activities at Arcelor Mittal Takeover also identify with the employee's own needs of progression, development and growth
• All training sessions and activities designed and carried out by Arcelor Mittal Takeover take into consideration business goals and objectives, as well as employee's personal goals and aspirations
• Arcelor Mittal Takeover, 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

• Arcelor Mittal Takeover works on strengthening the organizational commitment in its employees
• Arcelor Mittal Takeover builds employee loyalty so that people can reflect their optimal best at work
• Arcelor Mittal Takeover also understands that satisfied employees will lead to happy and satisfied customers
• Arcelor Mittal Takeover regularly shares different reward programs for employees, including stock sharing, so that their organizational commitment and ownership is enhanced
• Arcelor Mittal Takeover 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

• Arcelor Mittal Takeover employees are the face of the organization
• Arcelor Mittal Takeover are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Arcelor Mittal Takeover 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

• Arcelor Mittal Takeover remains one of the leading players in the industry also because of its focus on succession planning
• Arcelor Mittal Takeover 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 Arcelor Mittal Takeover
• Strategic succession planning has allowed Arcelor Mittal Takeover to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Arcelor Mittal Takeover has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Arcelor Mittal Takeover are clearly defined and communicated to the employees
• Arcelor Mittal Takeover 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 Arcelor Mittal Takeover

2.6.2. People Management

• Arcelor Mittal Takeover has also defined clear processes for people management through streamlining its human resource management department
• Arcelor Mittal Takeover 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 Arcelor Mittal Takeover to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Arcelor Mittal Takeover 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

• Arcelor Mittal Takeover 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 Arcelor Mittal Takeover 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 Arcelor Mittal Takeover as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Arcelor Mittal Takeover include:

2.7.1. Store atmosphere

• The store design and management for Arcelor Mittal Takeover 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 Arcelor Mittal Takeover at ease
• The store design is also important for Arcelor Mittal Takeover 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 Arcelor Mittal Takeover 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

• Arcelor Mittal Takeover has unique packaging, which is different from other players in the industry
• Arcelor Mittal Takeover 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 Arcelor Mittal Takeover
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Arcelor Mittal Takeover

2.7.3. Website design

• The website design is simple and easy to use
• Arcelor Mittal Takeover has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Arcelor Mittal Takeover 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