Marketing Mix Of ETHICS AND THE STRATEGIC DETERMINATION

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 ETHICS AND THE STRATEGIC DETERMINATION

ETHICS AND THE STRATEGIC DETERMINATION makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix ETHICS AND THE STRATEGIC DETERMINATION is presented below:

2.1. Product

Product is one of the most important components of the ETHICS AND THE STRATEGIC DETERMINATION Marketing mix. The distinctive characteristics of the product by ETHICS AND THE STRATEGIC DETERMINATION are:

2.1.1. Quality

• ETHICS AND THE STRATEGIC DETERMINATION maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• ETHICS AND THE STRATEGIC DETERMINATION 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 ETHICS AND THE STRATEGIC DETERMINATION with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by ETHICS AND THE STRATEGIC DETERMINATION 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

• ETHICS AND THE STRATEGIC DETERMINATION has a broad portfolio of products
• The broad portfolio helps ETHICS AND THE STRATEGIC DETERMINATION in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to ETHICS AND THE STRATEGIC DETERMINATION
• The broader product portfolio also adds more value for ETHICS AND THE STRATEGIC DETERMINATION

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

ETHICS AND THE STRATEGIC DETERMINATION 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 ETHICS AND THE STRATEGIC DETERMINATION in all markets
• Company-operated stores give ETHICS AND THE STRATEGIC DETERMINATION higher control over operations as well as store layout and design
• ETHICS AND THE STRATEGIC DETERMINATION 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 ETHICS AND THE STRATEGIC DETERMINATION in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• ETHICS AND THE STRATEGIC DETERMINATION has developed a successfully operational website for online order placement and order tracking
• ETHICS AND THE STRATEGIC DETERMINATION 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 ETHICS AND THE STRATEGIC DETERMINATION and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• ETHICS AND THE STRATEGIC DETERMINATION also places its products in supermarkets and hypermarkets across the country
• A large number of ETHICS AND THE STRATEGIC DETERMINATION target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for ETHICS AND THE STRATEGIC DETERMINATION

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

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

2.4.3. Community Influencers

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

2.5. People

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

2.5.1. Training

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

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

• ETHICS AND THE STRATEGIC DETERMINATION employees are the face of the organization
• ETHICS AND THE STRATEGIC DETERMINATION are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that ETHICS AND THE STRATEGIC DETERMINATION 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

• ETHICS AND THE STRATEGIC DETERMINATION remains one of the leading players in the industry also because of its focus on succession planning
• ETHICS AND THE STRATEGIC DETERMINATION 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 ETHICS AND THE STRATEGIC DETERMINATION
• Strategic succession planning has allowed ETHICS AND THE STRATEGIC DETERMINATION to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

ETHICS AND THE STRATEGIC DETERMINATION has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at ETHICS AND THE STRATEGIC DETERMINATION are clearly defined and communicated to the employees
• ETHICS AND THE STRATEGIC DETERMINATION 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 ETHICS AND THE STRATEGIC DETERMINATION

2.6.2. People Management

• ETHICS AND THE STRATEGIC DETERMINATION has also defined clear processes for people management through streamlining its human resource management department
• ETHICS AND THE STRATEGIC DETERMINATION 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 ETHICS AND THE STRATEGIC DETERMINATION to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• ETHICS AND THE STRATEGIC DETERMINATION 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

• ETHICS AND THE STRATEGIC DETERMINATION 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 ETHICS AND THE STRATEGIC DETERMINATION 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 ETHICS AND THE STRATEGIC DETERMINATION as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for ETHICS AND THE STRATEGIC DETERMINATION include:

2.7.1. Store atmosphere

• The store design and management for ETHICS AND THE STRATEGIC DETERMINATION 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 ETHICS AND THE STRATEGIC DETERMINATION at ease
• The store design is also important for ETHICS AND THE STRATEGIC DETERMINATION 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 ETHICS AND THE STRATEGIC DETERMINATION 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

• ETHICS AND THE STRATEGIC DETERMINATION has unique packaging, which is different from other players in the industry
• ETHICS AND THE STRATEGIC DETERMINATION 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 ETHICS AND THE STRATEGIC DETERMINATION
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by ETHICS AND THE STRATEGIC DETERMINATION

2.7.3. Website design

• The website design is simple and easy to use
• ETHICS AND THE STRATEGIC DETERMINATION has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of ETHICS AND THE STRATEGIC DETERMINATION 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