Marketing Mix Of Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations

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 Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations

Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations is presented below:

2.1. Product

Product is one of the most important components of the Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations Marketing mix. The distinctive characteristics of the product by Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations are:

2.1.1. Quality

• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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 Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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

• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations has a broad portfolio of products
• The broad portfolio helps Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations
• The broader product portfolio also adds more value for Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations

2.1.4. Benefits of product consumption

• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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 Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations is its delivery of emotional benefits to the consumer
• Products manufactured and sold by Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations promise consumers an ego boost, confidence, and security
• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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 Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations are available in different sizes
• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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, Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations has also increased the trial rate
• Different SKUs have also helped Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations improve its product accessibility

2.2. Price

Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations marketing mix focuses on a hybrid strategy for pricing to obtain maximum value for its products. The marketing mix Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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, Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations encourages favorable brand and product perceptions in target consumer groups
• Premium pricing for products also encourages a favorable quality perception of Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations products amongst consumers
• With premium prices, Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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 Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations products
• Using elements of premium prices in other product ranges has also allowed Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations to maintain significantly high profits and a consistent business growth

2.2.2. Psychological pricing

• Since Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations has a number of different product ranges and product groups, the use of psychological pricing has been beneficial
• With the use of psychological pricing, Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations also successfully adds more value to its products from the point of view of customers
• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations also gains higher sales with psychological pricing
• Consumer purchase a higher amount of Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations products because of its use of psychological pricing
• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations is able to increase its target audience and broaden its target purchaser groups

2.2.3. Geographical pricing

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

2.3. Placement

Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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 Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations in all markets
• Company-operated stores give Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations higher control over operations as well as store layout and design
• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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 Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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 Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations in unstable markets
• Licensed stores have also given Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations high business growth, and a boost for rapid market expansion and penetration
• Through licensed stores, Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations has also learned about local consumers and cultures
• Licensed stores and shops encourage sales of products by Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations by aligning it with local cultural values
• Licensed stores also help Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations in localizing its product offerings to enhance brand equity and band image

2.3.3. E-commerce

• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations has developed a successfully operational website for online order placement and order tracking
• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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 Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations also places its products in supermarkets and hypermarkets across the country
• A large number of Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations

2.3.5. Partner agents

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

2.4.1. Digital marketing

• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations has corporate profiles on all social media websites and portals
• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations uses its social media presence to directly, engage with consumers
• This direct engagement and interaction allows Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations to understand the customers, their needs and demands
• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations uses this feedback and incorporates it in its broader marketing and organizational strategy
• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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

• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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 Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations on high valued purchases
• Frequent usage and purchase of products by Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations also places an essential focus on people development and people building. This is because Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations realizes the importance of employees in building strong customer relationships. Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations works on strengthening the organizational commitment in its employees
• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations builds employee loyalty so that people can reflect their optimal best at work
• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations also understands that satisfied employees will lead to happy and satisfied customers
• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations regularly shares different reward programs for employees, including stock sharing, so that their organizational commitment and ownership is enhanced
• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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

• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations employees are the face of the organization
• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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

• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations remains one of the leading players in the industry also because of its focus on succession planning
• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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 Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations
• Strategic succession planning has allowed Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations are clearly defined and communicated to the employees
• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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 Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations

2.6.2. People Management

• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations has also defined clear processes for people management through streamlining its human resource management department
• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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 Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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

• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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 Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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 Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations include:

2.7.1. Store atmosphere

• The store design and management for Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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 Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations at ease
• The store design is also important for Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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 Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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

• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations has unique packaging, which is different from other players in the industry
• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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 Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations

2.7.3. Website design

• The website design is simple and easy to use
• Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Extending the Knowledge Strategy Concept Linking Organizational Knowledge with Strategic Orientations 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