Marketing Mix Of Ferrero Group Securing Supply for Hazelnuts

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 Ferrero Group Securing Supply for Hazelnuts

Ferrero Group Securing Supply for Hazelnuts makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Ferrero Group Securing Supply for Hazelnuts is presented below:

2.1. Product

Product is one of the most important components of the Ferrero Group Securing Supply for Hazelnuts Marketing mix. The distinctive characteristics of the product by Ferrero Group Securing Supply for Hazelnuts are:

2.1.1. Quality

• Ferrero Group Securing Supply for Hazelnuts maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Ferrero Group Securing Supply for Hazelnuts 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 Ferrero Group Securing Supply for Hazelnuts with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Ferrero Group Securing Supply for Hazelnuts 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

• Ferrero Group Securing Supply for Hazelnuts has a broad portfolio of products
• The broad portfolio helps Ferrero Group Securing Supply for Hazelnuts in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Ferrero Group Securing Supply for Hazelnuts
• The broader product portfolio also adds more value for Ferrero Group Securing Supply for Hazelnuts

2.1.4. Benefits of product consumption

• Ferrero Group Securing Supply for Hazelnuts 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 Ferrero Group Securing Supply for Hazelnuts is its delivery of emotional benefits to the consumer
• Products manufactured and sold by Ferrero Group Securing Supply for Hazelnuts promise consumers an ego boost, confidence, and security
• Ferrero Group Securing Supply for Hazelnuts 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 Ferrero Group Securing Supply for Hazelnuts are available in different sizes
• Ferrero Group Securing Supply for Hazelnuts 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, Ferrero Group Securing Supply for Hazelnuts has also increased the trial rate
• Different SKUs have also helped Ferrero Group Securing Supply for Hazelnuts improve its product accessibility

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

Ferrero Group Securing Supply for Hazelnuts 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 Ferrero Group Securing Supply for Hazelnuts in all markets
• Company-operated stores give Ferrero Group Securing Supply for Hazelnuts higher control over operations as well as store layout and design
• Ferrero Group Securing Supply for Hazelnuts 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 Ferrero Group Securing Supply for Hazelnuts in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Ferrero Group Securing Supply for Hazelnuts has developed a successfully operational website for online order placement and order tracking
• Ferrero Group Securing Supply for Hazelnuts 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 Ferrero Group Securing Supply for Hazelnuts and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Ferrero Group Securing Supply for Hazelnuts also places its products in supermarkets and hypermarkets across the country
• A large number of Ferrero Group Securing Supply for Hazelnuts target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Ferrero Group Securing Supply for Hazelnuts

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

• Ferrero Group Securing Supply for Hazelnuts 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 Ferrero Group Securing Supply for Hazelnuts and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Ferrero Group Securing Supply for Hazelnuts on high valued purchases
• Frequent usage and purchase of products by Ferrero Group Securing Supply for Hazelnuts also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Ferrero Group Securing Supply for Hazelnuts also places an essential focus on people development and people building. This is because Ferrero Group Securing Supply for Hazelnuts realizes the importance of employees in building strong customer relationships. Ferrero Group Securing Supply for Hazelnuts develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• Ferrero Group Securing Supply for Hazelnuts employees are the face of the organization
• Ferrero Group Securing Supply for Hazelnuts are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Ferrero Group Securing Supply for Hazelnuts 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

• Ferrero Group Securing Supply for Hazelnuts remains one of the leading players in the industry also because of its focus on succession planning
• Ferrero Group Securing Supply for Hazelnuts 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 Ferrero Group Securing Supply for Hazelnuts
• Strategic succession planning has allowed Ferrero Group Securing Supply for Hazelnuts to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Ferrero Group Securing Supply for Hazelnuts has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Ferrero Group Securing Supply for Hazelnuts are clearly defined and communicated to the employees
• Ferrero Group Securing Supply for Hazelnuts 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 Ferrero Group Securing Supply for Hazelnuts

2.6.2. People Management

• Ferrero Group Securing Supply for Hazelnuts has also defined clear processes for people management through streamlining its human resource management department
• Ferrero Group Securing Supply for Hazelnuts 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 Ferrero Group Securing Supply for Hazelnuts to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Ferrero Group Securing Supply for Hazelnuts 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

• Ferrero Group Securing Supply for Hazelnuts 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 Ferrero Group Securing Supply for Hazelnuts 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 Ferrero Group Securing Supply for Hazelnuts as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Ferrero Group Securing Supply for Hazelnuts include:

2.7.1. Store atmosphere

• The store design and management for Ferrero Group Securing Supply for Hazelnuts 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 Ferrero Group Securing Supply for Hazelnuts at ease
• The store design is also important for Ferrero Group Securing Supply for Hazelnuts 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 Ferrero Group Securing Supply for Hazelnuts 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

• Ferrero Group Securing Supply for Hazelnuts has unique packaging, which is different from other players in the industry
• Ferrero Group Securing Supply for Hazelnuts 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 Ferrero Group Securing Supply for Hazelnuts
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Ferrero Group Securing Supply for Hazelnuts

2.7.3. Website design

• The website design is simple and easy to use
• Ferrero Group Securing Supply for Hazelnuts has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Ferrero Group Securing Supply for Hazelnuts 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