Marketing Mix Of East Timor Betting on Oil

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 East Timor Betting on Oil

East Timor Betting on Oil makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix East Timor Betting on Oil is presented below:

2.1. Product

Product is one of the most important components of the East Timor Betting on Oil Marketing mix. The distinctive characteristics of the product by East Timor Betting on Oil are:

2.1.1. Quality

• East Timor Betting on Oil maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• East Timor Betting on Oil 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 East Timor Betting on Oil with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by East Timor Betting on Oil 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

• East Timor Betting on Oil has a broad portfolio of products
• The broad portfolio helps East Timor Betting on Oil in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to East Timor Betting on Oil
• The broader product portfolio also adds more value for East Timor Betting on Oil

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

East Timor Betting on Oil 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 East Timor Betting on Oil in all markets
• Company-operated stores give East Timor Betting on Oil higher control over operations as well as store layout and design
• East Timor Betting on Oil 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 East Timor Betting on Oil in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• East Timor Betting on Oil has developed a successfully operational website for online order placement and order tracking
• East Timor Betting on Oil 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 East Timor Betting on Oil and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• East Timor Betting on Oil also places its products in supermarkets and hypermarkets across the country
• A large number of East Timor Betting on Oil target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for East Timor Betting on Oil

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

• East Timor Betting on Oil 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 East Timor Betting on Oil and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by East Timor Betting on Oil on high valued purchases
• Frequent usage and purchase of products by East Timor Betting on Oil also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of East Timor Betting on Oil also places an essential focus on people development and people building. This is because East Timor Betting on Oil realizes the importance of employees in building strong customer relationships. East Timor Betting on Oil develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• East Timor Betting on Oil employees are the face of the organization
• East Timor Betting on Oil are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that East Timor Betting on Oil 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

• East Timor Betting on Oil remains one of the leading players in the industry also because of its focus on succession planning
• East Timor Betting on Oil 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 East Timor Betting on Oil
• Strategic succession planning has allowed East Timor Betting on Oil to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

East Timor Betting on Oil has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at East Timor Betting on Oil are clearly defined and communicated to the employees
• East Timor Betting on Oil 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 East Timor Betting on Oil

2.6.2. People Management

• East Timor Betting on Oil has also defined clear processes for people management through streamlining its human resource management department
• East Timor Betting on Oil 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 East Timor Betting on Oil to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• East Timor Betting on Oil 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

• East Timor Betting on Oil 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 East Timor Betting on Oil 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 East Timor Betting on Oil as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for East Timor Betting on Oil include:

2.7.1. Store atmosphere

• The store design and management for East Timor Betting on Oil 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 East Timor Betting on Oil at ease
• The store design is also important for East Timor Betting on Oil 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 East Timor Betting on Oil 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

• East Timor Betting on Oil has unique packaging, which is different from other players in the industry
• East Timor Betting on Oil 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 East Timor Betting on Oil
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by East Timor Betting on Oil

2.7.3. Website design

• The website design is simple and easy to use
• East Timor Betting on Oil has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of East Timor Betting on Oil 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