Marketing Mix Of Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences

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 Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences

Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences is presented below:

2.1. Product

Product is one of the most important components of the Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences Marketing mix. The distinctive characteristics of the product by Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences are:

2.1.1. Quality

• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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 Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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

• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences has a broad portfolio of products
• The broad portfolio helps Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences
• The broader product portfolio also adds more value for Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences

2.1.4. Benefits of product consumption

• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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 Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences is its delivery of emotional benefits to the consumer
• Products manufactured and sold by Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences promise consumers an ego boost, confidence, and security
• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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 Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences are available in different sizes
• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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, Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences has also increased the trial rate
• Different SKUs have also helped Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences improve its product accessibility

2.2. Price

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

2.2.2. Psychological pricing

• Since Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences has a number of different product ranges and product groups, the use of psychological pricing has been beneficial
• With the use of psychological pricing, Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences also successfully adds more value to its products from the point of view of customers
• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences also gains higher sales with psychological pricing
• Consumer purchase a higher amount of Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences products because of its use of psychological pricing
• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences is able to increase its target audience and broaden its target purchaser groups

2.2.3. Geographical pricing

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

2.3. Placement

Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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 Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences in all markets
• Company-operated stores give Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences higher control over operations as well as store layout and design
• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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 Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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 Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences in unstable markets
• Licensed stores have also given Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences high business growth, and a boost for rapid market expansion and penetration
• Through licensed stores, Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences has also learned about local consumers and cultures
• Licensed stores and shops encourage sales of products by Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences by aligning it with local cultural values
• Licensed stores also help Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences in localizing its product offerings to enhance brand equity and band image

2.3.3. E-commerce

• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences has developed a successfully operational website for online order placement and order tracking
• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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 Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences also places its products in supermarkets and hypermarkets across the country
• A large number of Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences

2.3.5. Partner agents

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

2.4.1. Digital marketing

• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences has corporate profiles on all social media websites and portals
• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences uses its social media presence to directly, engage with consumers
• This direct engagement and interaction allows Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences to understand the customers, their needs and demands
• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences uses this feedback and incorporates it in its broader marketing and organizational strategy
• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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

• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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 Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences on high valued purchases
• Frequent usage and purchase of products by Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences also places an essential focus on people development and people building. This is because Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences realizes the importance of employees in building strong customer relationships. Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences works on strengthening the organizational commitment in its employees
• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences builds employee loyalty so that people can reflect their optimal best at work
• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences also understands that satisfied employees will lead to happy and satisfied customers
• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences regularly shares different reward programs for employees, including stock sharing, so that their organizational commitment and ownership is enhanced
• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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

• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences employees are the face of the organization
• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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

• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences remains one of the leading players in the industry also because of its focus on succession planning
• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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 Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences
• Strategic succession planning has allowed Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences are clearly defined and communicated to the employees
• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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 Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences

2.6.2. People Management

• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences has also defined clear processes for people management through streamlining its human resource management department
• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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 Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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

• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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 Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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 Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences include:

2.7.1. Store atmosphere

• The store design and management for Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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 Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences at ease
• The store design is also important for Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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 Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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

• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences has unique packaging, which is different from other players in the industry
• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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 Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences

2.7.3. Website design

• The website design is simple and easy to use
• Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Engineering a Renaissance The Launch of the Harvard School of Engineering and Applied Sciences 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