Marketing Mix Of Capital One Financial Corporation Response Modeling

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 Capital One Financial Corporation Response Modeling

Capital One Financial Corporation Response Modeling makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Capital One Financial Corporation Response Modeling is presented below:

2.1. Product

Product is one of the most important components of the Capital One Financial Corporation Response Modeling Marketing mix. The distinctive characteristics of the product by Capital One Financial Corporation Response Modeling are:

2.1.1. Quality

• Capital One Financial Corporation Response Modeling maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Capital One Financial Corporation Response Modeling 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 Capital One Financial Corporation Response Modeling with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Capital One Financial Corporation Response Modeling 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

• Capital One Financial Corporation Response Modeling has a broad portfolio of products
• The broad portfolio helps Capital One Financial Corporation Response Modeling in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Capital One Financial Corporation Response Modeling
• The broader product portfolio also adds more value for Capital One Financial Corporation Response Modeling

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

Capital One Financial Corporation Response Modeling 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 Capital One Financial Corporation Response Modeling in all markets
• Company-operated stores give Capital One Financial Corporation Response Modeling higher control over operations as well as store layout and design
• Capital One Financial Corporation Response Modeling 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 Capital One Financial Corporation Response Modeling in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Capital One Financial Corporation Response Modeling has developed a successfully operational website for online order placement and order tracking
• Capital One Financial Corporation Response Modeling 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 Capital One Financial Corporation Response Modeling and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Capital One Financial Corporation Response Modeling also places its products in supermarkets and hypermarkets across the country
• A large number of Capital One Financial Corporation Response Modeling target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Capital One Financial Corporation Response Modeling

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

• Capital One Financial Corporation Response Modeling 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 Capital One Financial Corporation Response Modeling and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Capital One Financial Corporation Response Modeling on high valued purchases
• Frequent usage and purchase of products by Capital One Financial Corporation Response Modeling also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Capital One Financial Corporation Response Modeling also places an essential focus on people development and people building. This is because Capital One Financial Corporation Response Modeling realizes the importance of employees in building strong customer relationships. Capital One Financial Corporation Response Modeling develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• Capital One Financial Corporation Response Modeling employees are the face of the organization
• Capital One Financial Corporation Response Modeling are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Capital One Financial Corporation Response Modeling 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

• Capital One Financial Corporation Response Modeling remains one of the leading players in the industry also because of its focus on succession planning
• Capital One Financial Corporation Response Modeling 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 Capital One Financial Corporation Response Modeling
• Strategic succession planning has allowed Capital One Financial Corporation Response Modeling to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Capital One Financial Corporation Response Modeling has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Capital One Financial Corporation Response Modeling are clearly defined and communicated to the employees
• Capital One Financial Corporation Response Modeling 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 Capital One Financial Corporation Response Modeling

2.6.2. People Management

• Capital One Financial Corporation Response Modeling has also defined clear processes for people management through streamlining its human resource management department
• Capital One Financial Corporation Response Modeling 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 Capital One Financial Corporation Response Modeling to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Capital One Financial Corporation Response Modeling 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

• Capital One Financial Corporation Response Modeling 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 Capital One Financial Corporation Response Modeling 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 Capital One Financial Corporation Response Modeling as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Capital One Financial Corporation Response Modeling include:

2.7.1. Store atmosphere

• The store design and management for Capital One Financial Corporation Response Modeling 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 Capital One Financial Corporation Response Modeling at ease
• The store design is also important for Capital One Financial Corporation Response Modeling 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 Capital One Financial Corporation Response Modeling 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

• Capital One Financial Corporation Response Modeling has unique packaging, which is different from other players in the industry
• Capital One Financial Corporation Response Modeling 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 Capital One Financial Corporation Response Modeling
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Capital One Financial Corporation Response Modeling

2.7.3. Website design

• The website design is simple and easy to use
• Capital One Financial Corporation Response Modeling has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Capital One Financial Corporation Response Modeling 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