Marketing Mix Of Double Vision Making Eye Care Accessible through Cross-Subsidization

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 Double Vision Making Eye Care Accessible through Cross-Subsidization

Double Vision Making Eye Care Accessible through Cross-Subsidization makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Double Vision Making Eye Care Accessible through Cross-Subsidization is presented below:

2.1. Product

Product is one of the most important components of the Double Vision Making Eye Care Accessible through Cross-Subsidization Marketing mix. The distinctive characteristics of the product by Double Vision Making Eye Care Accessible through Cross-Subsidization are:

2.1.1. Quality

• Double Vision Making Eye Care Accessible through Cross-Subsidization maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Double Vision Making Eye Care Accessible through Cross-Subsidization 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 Double Vision Making Eye Care Accessible through Cross-Subsidization with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Double Vision Making Eye Care Accessible through Cross-Subsidization 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

• Double Vision Making Eye Care Accessible through Cross-Subsidization has a broad portfolio of products
• The broad portfolio helps Double Vision Making Eye Care Accessible through Cross-Subsidization in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Double Vision Making Eye Care Accessible through Cross-Subsidization
• The broader product portfolio also adds more value for Double Vision Making Eye Care Accessible through Cross-Subsidization

2.1.4. Benefits of product consumption

• Double Vision Making Eye Care Accessible through Cross-Subsidization 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 Double Vision Making Eye Care Accessible through Cross-Subsidization is its delivery of emotional benefits to the consumer
• Products manufactured and sold by Double Vision Making Eye Care Accessible through Cross-Subsidization promise consumers an ego boost, confidence, and security
• Double Vision Making Eye Care Accessible through Cross-Subsidization 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 Double Vision Making Eye Care Accessible through Cross-Subsidization are available in different sizes
• Double Vision Making Eye Care Accessible through Cross-Subsidization 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, Double Vision Making Eye Care Accessible through Cross-Subsidization has also increased the trial rate
• Different SKUs have also helped Double Vision Making Eye Care Accessible through Cross-Subsidization improve its product accessibility

2.2. Price

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

2.2.2. Psychological pricing

• Since Double Vision Making Eye Care Accessible through Cross-Subsidization has a number of different product ranges and product groups, the use of psychological pricing has been beneficial
• With the use of psychological pricing, Double Vision Making Eye Care Accessible through Cross-Subsidization also successfully adds more value to its products from the point of view of customers
• Double Vision Making Eye Care Accessible through Cross-Subsidization also gains higher sales with psychological pricing
• Consumer purchase a higher amount of Double Vision Making Eye Care Accessible through Cross-Subsidization products because of its use of psychological pricing
• Double Vision Making Eye Care Accessible through Cross-Subsidization is able to increase its target audience and broaden its target purchaser groups

2.2.3. Geographical pricing

• Double Vision Making Eye Care Accessible through Cross-Subsidization is able to penetrate different regional markets optimally with the use of geographical pricing
• For offshore locations, geographical pricing also allows Double Vision Making Eye Care Accessible through Cross-Subsidization to cover shipping and customs expenses
• Geographical pricing also allows Double Vision Making Eye Care Accessible through Cross-Subsidization 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, Double Vision Making Eye Care Accessible through Cross-Subsidization is also known to use bundle pricing strategy popularly
• Double Vision Making Eye Care Accessible through Cross-Subsidization also uses bundle pricing during sales
• Bundle pricing increases the trial rate for consumers
• Double Vision Making Eye Care Accessible through Cross-Subsidization experiences higher return on the cost of gaining a new customer
• With bundle pricing, Double Vision Making Eye Care Accessible through Cross-Subsidization 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 Double Vision Making Eye Care Accessible through Cross-Subsidization.

2.3. Placement

Double Vision Making Eye Care Accessible through Cross-Subsidization 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 Double Vision Making Eye Care Accessible through Cross-Subsidization in all markets
• Company-operated stores give Double Vision Making Eye Care Accessible through Cross-Subsidization higher control over operations as well as store layout and design
• Double Vision Making Eye Care Accessible through Cross-Subsidization 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 Double Vision Making Eye Care Accessible through Cross-Subsidization in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

• Double Vision Making Eye Care Accessible through Cross-Subsidization 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 Double Vision Making Eye Care Accessible through Cross-Subsidization in unstable markets
• Licensed stores have also given Double Vision Making Eye Care Accessible through Cross-Subsidization high business growth, and a boost for rapid market expansion and penetration
• Through licensed stores, Double Vision Making Eye Care Accessible through Cross-Subsidization has also learned about local consumers and cultures
• Licensed stores and shops encourage sales of products by Double Vision Making Eye Care Accessible through Cross-Subsidization by aligning it with local cultural values
• Licensed stores also help Double Vision Making Eye Care Accessible through Cross-Subsidization in localizing its product offerings to enhance brand equity and band image

2.3.3. E-commerce

• Double Vision Making Eye Care Accessible through Cross-Subsidization has developed a successfully operational website for online order placement and order tracking
• Double Vision Making Eye Care Accessible through Cross-Subsidization 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 Double Vision Making Eye Care Accessible through Cross-Subsidization and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Double Vision Making Eye Care Accessible through Cross-Subsidization also places its products in supermarkets and hypermarkets across the country
• A large number of Double Vision Making Eye Care Accessible through Cross-Subsidization target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Double Vision Making Eye Care Accessible through Cross-Subsidization

2.3.5. Partner agents

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

2.4.1. Digital marketing

• Double Vision Making Eye Care Accessible through Cross-Subsidization has corporate profiles on all social media websites and portals
• Double Vision Making Eye Care Accessible through Cross-Subsidization uses its social media presence to directly, engage with consumers
• This direct engagement and interaction allows Double Vision Making Eye Care Accessible through Cross-Subsidization to understand the customers, their needs and demands
• Double Vision Making Eye Care Accessible through Cross-Subsidization uses this feedback and incorporates it in its broader marketing and organizational strategy
• Double Vision Making Eye Care Accessible through Cross-Subsidization 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

• Double Vision Making Eye Care Accessible through Cross-Subsidization 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 Double Vision Making Eye Care Accessible through Cross-Subsidization and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Double Vision Making Eye Care Accessible through Cross-Subsidization on high valued purchases
• Frequent usage and purchase of products by Double Vision Making Eye Care Accessible through Cross-Subsidization also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Double Vision Making Eye Care Accessible through Cross-Subsidization also places an essential focus on people development and people building. This is because Double Vision Making Eye Care Accessible through Cross-Subsidization realizes the importance of employees in building strong customer relationships. Double Vision Making Eye Care Accessible through Cross-Subsidization develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

• Double Vision Making Eye Care Accessible through Cross-Subsidization works on strengthening the organizational commitment in its employees
• Double Vision Making Eye Care Accessible through Cross-Subsidization builds employee loyalty so that people can reflect their optimal best at work
• Double Vision Making Eye Care Accessible through Cross-Subsidization also understands that satisfied employees will lead to happy and satisfied customers
• Double Vision Making Eye Care Accessible through Cross-Subsidization regularly shares different reward programs for employees, including stock sharing, so that their organizational commitment and ownership is enhanced
• Double Vision Making Eye Care Accessible through Cross-Subsidization 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

• Double Vision Making Eye Care Accessible through Cross-Subsidization employees are the face of the organization
• Double Vision Making Eye Care Accessible through Cross-Subsidization are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Double Vision Making Eye Care Accessible through Cross-Subsidization 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

• Double Vision Making Eye Care Accessible through Cross-Subsidization remains one of the leading players in the industry also because of its focus on succession planning
• Double Vision Making Eye Care Accessible through Cross-Subsidization 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 Double Vision Making Eye Care Accessible through Cross-Subsidization
• Strategic succession planning has allowed Double Vision Making Eye Care Accessible through Cross-Subsidization to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Double Vision Making Eye Care Accessible through Cross-Subsidization has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Double Vision Making Eye Care Accessible through Cross-Subsidization are clearly defined and communicated to the employees
• Double Vision Making Eye Care Accessible through Cross-Subsidization 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 Double Vision Making Eye Care Accessible through Cross-Subsidization

2.6.2. People Management

• Double Vision Making Eye Care Accessible through Cross-Subsidization has also defined clear processes for people management through streamlining its human resource management department
• Double Vision Making Eye Care Accessible through Cross-Subsidization 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 Double Vision Making Eye Care Accessible through Cross-Subsidization to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Double Vision Making Eye Care Accessible through Cross-Subsidization 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

• Double Vision Making Eye Care Accessible through Cross-Subsidization 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 Double Vision Making Eye Care Accessible through Cross-Subsidization 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 Double Vision Making Eye Care Accessible through Cross-Subsidization as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Double Vision Making Eye Care Accessible through Cross-Subsidization include:

2.7.1. Store atmosphere

• The store design and management for Double Vision Making Eye Care Accessible through Cross-Subsidization 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 Double Vision Making Eye Care Accessible through Cross-Subsidization at ease
• The store design is also important for Double Vision Making Eye Care Accessible through Cross-Subsidization 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 Double Vision Making Eye Care Accessible through Cross-Subsidization 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

• Double Vision Making Eye Care Accessible through Cross-Subsidization has unique packaging, which is different from other players in the industry
• Double Vision Making Eye Care Accessible through Cross-Subsidization 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 Double Vision Making Eye Care Accessible through Cross-Subsidization
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Double Vision Making Eye Care Accessible through Cross-Subsidization

2.7.3. Website design

• The website design is simple and easy to use
• Double Vision Making Eye Care Accessible through Cross-Subsidization has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Double Vision Making Eye Care Accessible through Cross-Subsidization 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