Marketing Mix Of BURSTING THE CEO BUBBLE

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 BURSTING THE CEO BUBBLE

BURSTING THE CEO BUBBLE makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix BURSTING THE CEO BUBBLE is presented below:

2.1. Product

Product is one of the most important components of the BURSTING THE CEO BUBBLE Marketing mix. The distinctive characteristics of the product by BURSTING THE CEO BUBBLE are:

2.1.1. Quality

• BURSTING THE CEO BUBBLE maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• BURSTING THE CEO BUBBLE 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 BURSTING THE CEO BUBBLE with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by BURSTING THE CEO BUBBLE 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

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

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

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

2.3.2. Licensed stores

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

2.3.3. E-commerce

• BURSTING THE CEO BUBBLE has developed a successfully operational website for online order placement and order tracking
• BURSTING THE CEO BUBBLE 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 BURSTING THE CEO BUBBLE and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• BURSTING THE CEO BUBBLE also places its products in supermarkets and hypermarkets across the country
• A large number of BURSTING THE CEO BUBBLE target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for BURSTING THE CEO BUBBLE

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

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

2.4.3. Community Influencers

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

2.5. People

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

2.5.1. Training

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

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

• BURSTING THE CEO BUBBLE employees are the face of the organization
• BURSTING THE CEO BUBBLE are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that BURSTING THE CEO BUBBLE 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

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

2.6. Process

BURSTING THE CEO BUBBLE has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at BURSTING THE CEO BUBBLE are clearly defined and communicated to the employees
• BURSTING THE CEO BUBBLE 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 BURSTING THE CEO BUBBLE

2.6.2. People Management

• BURSTING THE CEO BUBBLE has also defined clear processes for people management through streamlining its human resource management department
• BURSTING THE CEO BUBBLE 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 BURSTING THE CEO BUBBLE to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• BURSTING THE CEO BUBBLE 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

• BURSTING THE CEO BUBBLE 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 BURSTING THE CEO BUBBLE 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 BURSTING THE CEO BUBBLE as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for BURSTING THE CEO BUBBLE include:

2.7.1. Store atmosphere

• The store design and management for BURSTING THE CEO BUBBLE 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 BURSTING THE CEO BUBBLE at ease
• The store design is also important for BURSTING THE CEO BUBBLE 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 BURSTING THE CEO BUBBLE 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

• BURSTING THE CEO BUBBLE has unique packaging, which is different from other players in the industry
• BURSTING THE CEO BUBBLE 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 BURSTING THE CEO BUBBLE
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by BURSTING THE CEO BUBBLE

2.7.3. Website design

• The website design is simple and easy to use
• BURSTING THE CEO BUBBLE has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of BURSTING THE CEO BUBBLE 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