Marketing Mix Of Baidu com Inc Valuation at IPO

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 Baidu com Inc Valuation at IPO

Baidu com Inc Valuation at IPO makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Baidu com Inc Valuation at IPO is presented below:

2.1. Product

Product is one of the most important components of the Baidu com Inc Valuation at IPO Marketing mix. The distinctive characteristics of the product by Baidu com Inc Valuation at IPO are:

2.1.1. Quality

• Baidu com Inc Valuation at IPO maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Baidu com Inc Valuation at IPO 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 Baidu com Inc Valuation at IPO with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Baidu com Inc Valuation at IPO 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

• Baidu com Inc Valuation at IPO has a broad portfolio of products
• The broad portfolio helps Baidu com Inc Valuation at IPO in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Baidu com Inc Valuation at IPO
• The broader product portfolio also adds more value for Baidu com Inc Valuation at IPO

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

Baidu com Inc Valuation at IPO 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 Baidu com Inc Valuation at IPO in all markets
• Company-operated stores give Baidu com Inc Valuation at IPO higher control over operations as well as store layout and design
• Baidu com Inc Valuation at IPO 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 Baidu com Inc Valuation at IPO in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Baidu com Inc Valuation at IPO has developed a successfully operational website for online order placement and order tracking
• Baidu com Inc Valuation at IPO 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 Baidu com Inc Valuation at IPO and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Baidu com Inc Valuation at IPO also places its products in supermarkets and hypermarkets across the country
• A large number of Baidu com Inc Valuation at IPO target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Baidu com Inc Valuation at IPO

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

• Baidu com Inc Valuation at IPO 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 Baidu com Inc Valuation at IPO and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Baidu com Inc Valuation at IPO on high valued purchases
• Frequent usage and purchase of products by Baidu com Inc Valuation at IPO also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Baidu com Inc Valuation at IPO also places an essential focus on people development and people building. This is because Baidu com Inc Valuation at IPO realizes the importance of employees in building strong customer relationships. Baidu com Inc Valuation at IPO develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• Baidu com Inc Valuation at IPO employees are the face of the organization
• Baidu com Inc Valuation at IPO are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Baidu com Inc Valuation at IPO 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

• Baidu com Inc Valuation at IPO remains one of the leading players in the industry also because of its focus on succession planning
• Baidu com Inc Valuation at IPO 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 Baidu com Inc Valuation at IPO
• Strategic succession planning has allowed Baidu com Inc Valuation at IPO to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Baidu com Inc Valuation at IPO has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Baidu com Inc Valuation at IPO are clearly defined and communicated to the employees
• Baidu com Inc Valuation at IPO 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 Baidu com Inc Valuation at IPO

2.6.2. People Management

• Baidu com Inc Valuation at IPO has also defined clear processes for people management through streamlining its human resource management department
• Baidu com Inc Valuation at IPO 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 Baidu com Inc Valuation at IPO to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Baidu com Inc Valuation at IPO 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

• Baidu com Inc Valuation at IPO 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 Baidu com Inc Valuation at IPO 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 Baidu com Inc Valuation at IPO as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Baidu com Inc Valuation at IPO include:

2.7.1. Store atmosphere

• The store design and management for Baidu com Inc Valuation at IPO 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 Baidu com Inc Valuation at IPO at ease
• The store design is also important for Baidu com Inc Valuation at IPO 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 Baidu com Inc Valuation at IPO 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

• Baidu com Inc Valuation at IPO has unique packaging, which is different from other players in the industry
• Baidu com Inc Valuation at IPO 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 Baidu com Inc Valuation at IPO
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Baidu com Inc Valuation at IPO

2.7.3. Website design

• The website design is simple and easy to use
• Baidu com Inc Valuation at IPO has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Baidu com Inc Valuation at IPO 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