Marketing Mix Of AyurVAID Grandma s Remedies or Blue Ocean Strategy

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 AyurVAID Grandma s Remedies or Blue Ocean Strategy

AyurVAID Grandma s Remedies or Blue Ocean Strategy makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix AyurVAID Grandma s Remedies or Blue Ocean Strategy is presented below:

2.1. Product

Product is one of the most important components of the AyurVAID Grandma s Remedies or Blue Ocean Strategy Marketing mix. The distinctive characteristics of the product by AyurVAID Grandma s Remedies or Blue Ocean Strategy are:

2.1.1. Quality

• AyurVAID Grandma s Remedies or Blue Ocean Strategy maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• AyurVAID Grandma s Remedies or Blue Ocean Strategy 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 AyurVAID Grandma s Remedies or Blue Ocean Strategy with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by AyurVAID Grandma s Remedies or Blue Ocean Strategy 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

• AyurVAID Grandma s Remedies or Blue Ocean Strategy has a broad portfolio of products
• The broad portfolio helps AyurVAID Grandma s Remedies or Blue Ocean Strategy in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to AyurVAID Grandma s Remedies or Blue Ocean Strategy
• The broader product portfolio also adds more value for AyurVAID Grandma s Remedies or Blue Ocean Strategy

2.1.4. Benefits of product consumption

• AyurVAID Grandma s Remedies or Blue Ocean Strategy 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 AyurVAID Grandma s Remedies or Blue Ocean Strategy is its delivery of emotional benefits to the consumer
• Products manufactured and sold by AyurVAID Grandma s Remedies or Blue Ocean Strategy promise consumers an ego boost, confidence, and security
• AyurVAID Grandma s Remedies or Blue Ocean Strategy 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 AyurVAID Grandma s Remedies or Blue Ocean Strategy are available in different sizes
• AyurVAID Grandma s Remedies or Blue Ocean Strategy 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, AyurVAID Grandma s Remedies or Blue Ocean Strategy has also increased the trial rate
• Different SKUs have also helped AyurVAID Grandma s Remedies or Blue Ocean Strategy improve its product accessibility

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

AyurVAID Grandma s Remedies or Blue Ocean Strategy 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 AyurVAID Grandma s Remedies or Blue Ocean Strategy in all markets
• Company-operated stores give AyurVAID Grandma s Remedies or Blue Ocean Strategy higher control over operations as well as store layout and design
• AyurVAID Grandma s Remedies or Blue Ocean Strategy 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 AyurVAID Grandma s Remedies or Blue Ocean Strategy in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• AyurVAID Grandma s Remedies or Blue Ocean Strategy has developed a successfully operational website for online order placement and order tracking
• AyurVAID Grandma s Remedies or Blue Ocean Strategy 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 AyurVAID Grandma s Remedies or Blue Ocean Strategy and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• AyurVAID Grandma s Remedies or Blue Ocean Strategy also places its products in supermarkets and hypermarkets across the country
• A large number of AyurVAID Grandma s Remedies or Blue Ocean Strategy target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for AyurVAID Grandma s Remedies or Blue Ocean Strategy

2.3.5. Partner agents

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

2.4.1. Digital marketing

• AyurVAID Grandma s Remedies or Blue Ocean Strategy has corporate profiles on all social media websites and portals
• AyurVAID Grandma s Remedies or Blue Ocean Strategy uses its social media presence to directly, engage with consumers
• This direct engagement and interaction allows AyurVAID Grandma s Remedies or Blue Ocean Strategy to understand the customers, their needs and demands
• AyurVAID Grandma s Remedies or Blue Ocean Strategy uses this feedback and incorporates it in its broader marketing and organizational strategy
• AyurVAID Grandma s Remedies or Blue Ocean Strategy 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

• AyurVAID Grandma s Remedies or Blue Ocean Strategy 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 AyurVAID Grandma s Remedies or Blue Ocean Strategy and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by AyurVAID Grandma s Remedies or Blue Ocean Strategy on high valued purchases
• Frequent usage and purchase of products by AyurVAID Grandma s Remedies or Blue Ocean Strategy also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of AyurVAID Grandma s Remedies or Blue Ocean Strategy also places an essential focus on people development and people building. This is because AyurVAID Grandma s Remedies or Blue Ocean Strategy realizes the importance of employees in building strong customer relationships. AyurVAID Grandma s Remedies or Blue Ocean Strategy develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• AyurVAID Grandma s Remedies or Blue Ocean Strategy employees are the face of the organization
• AyurVAID Grandma s Remedies or Blue Ocean Strategy are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that AyurVAID Grandma s Remedies or Blue Ocean Strategy 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

• AyurVAID Grandma s Remedies or Blue Ocean Strategy remains one of the leading players in the industry also because of its focus on succession planning
• AyurVAID Grandma s Remedies or Blue Ocean Strategy 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 AyurVAID Grandma s Remedies or Blue Ocean Strategy
• Strategic succession planning has allowed AyurVAID Grandma s Remedies or Blue Ocean Strategy to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

AyurVAID Grandma s Remedies or Blue Ocean Strategy has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at AyurVAID Grandma s Remedies or Blue Ocean Strategy are clearly defined and communicated to the employees
• AyurVAID Grandma s Remedies or Blue Ocean Strategy 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 AyurVAID Grandma s Remedies or Blue Ocean Strategy

2.6.2. People Management

• AyurVAID Grandma s Remedies or Blue Ocean Strategy has also defined clear processes for people management through streamlining its human resource management department
• AyurVAID Grandma s Remedies or Blue Ocean Strategy 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 AyurVAID Grandma s Remedies or Blue Ocean Strategy to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• AyurVAID Grandma s Remedies or Blue Ocean Strategy 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

• AyurVAID Grandma s Remedies or Blue Ocean Strategy 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 AyurVAID Grandma s Remedies or Blue Ocean Strategy 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 AyurVAID Grandma s Remedies or Blue Ocean Strategy as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for AyurVAID Grandma s Remedies or Blue Ocean Strategy include:

2.7.1. Store atmosphere

• The store design and management for AyurVAID Grandma s Remedies or Blue Ocean Strategy 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 AyurVAID Grandma s Remedies or Blue Ocean Strategy at ease
• The store design is also important for AyurVAID Grandma s Remedies or Blue Ocean Strategy 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 AyurVAID Grandma s Remedies or Blue Ocean Strategy 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

• AyurVAID Grandma s Remedies or Blue Ocean Strategy has unique packaging, which is different from other players in the industry
• AyurVAID Grandma s Remedies or Blue Ocean Strategy 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 AyurVAID Grandma s Remedies or Blue Ocean Strategy
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by AyurVAID Grandma s Remedies or Blue Ocean Strategy

2.7.3. Website design

• The website design is simple and easy to use
• AyurVAID Grandma s Remedies or Blue Ocean Strategy has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of AyurVAID Grandma s Remedies or Blue Ocean Strategy 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