Marketing Mix Of CHAMPION ROAD MACHINERY

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 CHAMPION ROAD MACHINERY

CHAMPION ROAD MACHINERY makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix CHAMPION ROAD MACHINERY is presented below:

2.1. Product

Product is one of the most important components of the CHAMPION ROAD MACHINERY Marketing mix. The distinctive characteristics of the product by CHAMPION ROAD MACHINERY are:

2.1.1. Quality

• CHAMPION ROAD MACHINERY maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• CHAMPION ROAD MACHINERY 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 CHAMPION ROAD MACHINERY with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by CHAMPION ROAD MACHINERY 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

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

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

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

2.3.2. Licensed stores

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

2.3.3. E-commerce

• CHAMPION ROAD MACHINERY has developed a successfully operational website for online order placement and order tracking
• CHAMPION ROAD MACHINERY 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 CHAMPION ROAD MACHINERY and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

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

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

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

2.4.3. Community Influencers

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

2.5. People

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

2.5.1. Training

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

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

• CHAMPION ROAD MACHINERY employees are the face of the organization
• CHAMPION ROAD MACHINERY are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that CHAMPION ROAD MACHINERY 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

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

2.6. Process

CHAMPION ROAD MACHINERY has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at CHAMPION ROAD MACHINERY are clearly defined and communicated to the employees
• CHAMPION ROAD MACHINERY 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 CHAMPION ROAD MACHINERY

2.6.2. People Management

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

2.6.3. Quality maintenance

• CHAMPION ROAD MACHINERY 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

• CHAMPION ROAD MACHINERY 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 CHAMPION ROAD MACHINERY 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 CHAMPION ROAD MACHINERY as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for CHAMPION ROAD MACHINERY include:

2.7.1. Store atmosphere

• The store design and management for CHAMPION ROAD MACHINERY 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 CHAMPION ROAD MACHINERY at ease
• The store design is also important for CHAMPION ROAD MACHINERY 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 CHAMPION ROAD MACHINERY 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

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

2.7.3. Website design

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