Marketing Mix Of FP Journe Invenit et Fecit

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 FP Journe Invenit et Fecit

FP Journe Invenit et Fecit makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix FP Journe Invenit et Fecit is presented below:

2.1. Product

Product is one of the most important components of the FP Journe Invenit et Fecit Marketing mix. The distinctive characteristics of the product by FP Journe Invenit et Fecit are:

2.1.1. Quality

• FP Journe Invenit et Fecit maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• FP Journe Invenit et Fecit 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 FP Journe Invenit et Fecit with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by FP Journe Invenit et Fecit 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

• FP Journe Invenit et Fecit has a broad portfolio of products
• The broad portfolio helps FP Journe Invenit et Fecit in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to FP Journe Invenit et Fecit
• The broader product portfolio also adds more value for FP Journe Invenit et Fecit

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

FP Journe Invenit et Fecit 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 FP Journe Invenit et Fecit in all markets
• Company-operated stores give FP Journe Invenit et Fecit higher control over operations as well as store layout and design
• FP Journe Invenit et Fecit 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 FP Journe Invenit et Fecit in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• FP Journe Invenit et Fecit has developed a successfully operational website for online order placement and order tracking
• FP Journe Invenit et Fecit 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 FP Journe Invenit et Fecit and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• FP Journe Invenit et Fecit also places its products in supermarkets and hypermarkets across the country
• A large number of FP Journe Invenit et Fecit target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for FP Journe Invenit et Fecit

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

• FP Journe Invenit et Fecit 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 FP Journe Invenit et Fecit and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by FP Journe Invenit et Fecit on high valued purchases
• Frequent usage and purchase of products by FP Journe Invenit et Fecit also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of FP Journe Invenit et Fecit also places an essential focus on people development and people building. This is because FP Journe Invenit et Fecit realizes the importance of employees in building strong customer relationships. FP Journe Invenit et Fecit develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• FP Journe Invenit et Fecit employees are the face of the organization
• FP Journe Invenit et Fecit are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that FP Journe Invenit et Fecit 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

• FP Journe Invenit et Fecit remains one of the leading players in the industry also because of its focus on succession planning
• FP Journe Invenit et Fecit 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 FP Journe Invenit et Fecit
• Strategic succession planning has allowed FP Journe Invenit et Fecit to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

FP Journe Invenit et Fecit has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at FP Journe Invenit et Fecit are clearly defined and communicated to the employees
• FP Journe Invenit et Fecit 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 FP Journe Invenit et Fecit

2.6.2. People Management

• FP Journe Invenit et Fecit has also defined clear processes for people management through streamlining its human resource management department
• FP Journe Invenit et Fecit 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 FP Journe Invenit et Fecit to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• FP Journe Invenit et Fecit 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

• FP Journe Invenit et Fecit 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 FP Journe Invenit et Fecit 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 FP Journe Invenit et Fecit as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for FP Journe Invenit et Fecit include:

2.7.1. Store atmosphere

• The store design and management for FP Journe Invenit et Fecit 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 FP Journe Invenit et Fecit at ease
• The store design is also important for FP Journe Invenit et Fecit 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 FP Journe Invenit et Fecit 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

• FP Journe Invenit et Fecit has unique packaging, which is different from other players in the industry
• FP Journe Invenit et Fecit 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 FP Journe Invenit et Fecit
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by FP Journe Invenit et Fecit

2.7.3. Website design

• The website design is simple and easy to use
• FP Journe Invenit et Fecit has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of FP Journe Invenit et Fecit 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