Marketing Mix Of CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS

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 CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS

CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS is presented below:

2.1. Product

Product is one of the most important components of the CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS Marketing mix. The distinctive characteristics of the product by CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS are:

2.1.1. Quality

• CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS 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 CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS 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

• CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS has a broad portfolio of products
• The broad portfolio helps CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS
• The broader product portfolio also adds more value for CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS 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 CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS in all markets
• Company-operated stores give CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS higher control over operations as well as store layout and design
• CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS 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 CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS has developed a successfully operational website for online order placement and order tracking
• CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS 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 CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS also places its products in supermarkets and hypermarkets across the country
• A large number of CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

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

2.4.3. Community Influencers

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

2.5. People

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

2.5.1. Training

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

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

• CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS employees are the face of the organization
• CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS 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

• CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS remains one of the leading players in the industry also because of its focus on succession planning
• CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS 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 CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS
• Strategic succession planning has allowed CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS are clearly defined and communicated to the employees
• CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS 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 CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS

2.6.2. People Management

• CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS has also defined clear processes for people management through streamlining its human resource management department
• CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS 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 CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS 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

• CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS 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 CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS 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 CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS include:

2.7.1. Store atmosphere

• The store design and management for CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS 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 CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS at ease
• The store design is also important for CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS 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 CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS 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

• CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS has unique packaging, which is different from other players in the industry
• CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS 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 CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS

2.7.3. Website design

• The website design is simple and easy to use
• CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of CNOOC ENGAGES WITH CANADIAN STAKEHOLDERS 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