Marketing Mix Of Capitalism and Democracy in a New World

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 Capitalism and Democracy in a New World

Capitalism and Democracy in a New World makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Capitalism and Democracy in a New World is presented below:

2.1. Product

Product is one of the most important components of the Capitalism and Democracy in a New World Marketing mix. The distinctive characteristics of the product by Capitalism and Democracy in a New World are:

2.1.1. Quality

• Capitalism and Democracy in a New World maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Capitalism and Democracy in a New World 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 Capitalism and Democracy in a New World with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Capitalism and Democracy in a New World 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

• Capitalism and Democracy in a New World has a broad portfolio of products
• The broad portfolio helps Capitalism and Democracy in a New World in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Capitalism and Democracy in a New World
• The broader product portfolio also adds more value for Capitalism and Democracy in a New World

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

Capitalism and Democracy in a New World 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 Capitalism and Democracy in a New World in all markets
• Company-operated stores give Capitalism and Democracy in a New World higher control over operations as well as store layout and design
• Capitalism and Democracy in a New World 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 Capitalism and Democracy in a New World in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Capitalism and Democracy in a New World has developed a successfully operational website for online order placement and order tracking
• Capitalism and Democracy in a New World 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 Capitalism and Democracy in a New World and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Capitalism and Democracy in a New World also places its products in supermarkets and hypermarkets across the country
• A large number of Capitalism and Democracy in a New World target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Capitalism and Democracy in a New World

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

• Capitalism and Democracy in a New World 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 Capitalism and Democracy in a New World and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Capitalism and Democracy in a New World on high valued purchases
• Frequent usage and purchase of products by Capitalism and Democracy in a New World also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

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

2.5.1. Training

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

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

• Capitalism and Democracy in a New World employees are the face of the organization
• Capitalism and Democracy in a New World are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Capitalism and Democracy in a New World 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

• Capitalism and Democracy in a New World remains one of the leading players in the industry also because of its focus on succession planning
• Capitalism and Democracy in a New World 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 Capitalism and Democracy in a New World
• Strategic succession planning has allowed Capitalism and Democracy in a New World to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Capitalism and Democracy in a New World has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Capitalism and Democracy in a New World are clearly defined and communicated to the employees
• Capitalism and Democracy in a New World 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 Capitalism and Democracy in a New World

2.6.2. People Management

• Capitalism and Democracy in a New World has also defined clear processes for people management through streamlining its human resource management department
• Capitalism and Democracy in a New World 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 Capitalism and Democracy in a New World to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Capitalism and Democracy in a New World 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

• Capitalism and Democracy in a New World 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 Capitalism and Democracy in a New World 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 Capitalism and Democracy in a New World as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Capitalism and Democracy in a New World include:

2.7.1. Store atmosphere

• The store design and management for Capitalism and Democracy in a New World 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 Capitalism and Democracy in a New World at ease
• The store design is also important for Capitalism and Democracy in a New World 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 Capitalism and Democracy in a New World 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

• Capitalism and Democracy in a New World has unique packaging, which is different from other players in the industry
• Capitalism and Democracy in a New World 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 Capitalism and Democracy in a New World
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Capitalism and Democracy in a New World

2.7.3. Website design

• The website design is simple and easy to use
• Capitalism and Democracy in a New World has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Capitalism and Democracy in a New World 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