Marketing Mix Of Frustration-driven Process Improvement

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 Frustration-driven Process Improvement

Frustration-driven Process Improvement makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Frustration-driven Process Improvement is presented below:

2.1. Product

Product is one of the most important components of the Frustration-driven Process Improvement Marketing mix. The distinctive characteristics of the product by Frustration-driven Process Improvement are:

2.1.1. Quality

• Frustration-driven Process Improvement maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Frustration-driven Process Improvement 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 Frustration-driven Process Improvement with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Frustration-driven Process Improvement 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

• Frustration-driven Process Improvement has a broad portfolio of products
• The broad portfolio helps Frustration-driven Process Improvement in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Frustration-driven Process Improvement
• The broader product portfolio also adds more value for Frustration-driven Process Improvement

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

Frustration-driven Process Improvement 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 Frustration-driven Process Improvement in all markets
• Company-operated stores give Frustration-driven Process Improvement higher control over operations as well as store layout and design
• Frustration-driven Process Improvement 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 Frustration-driven Process Improvement in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Frustration-driven Process Improvement has developed a successfully operational website for online order placement and order tracking
• Frustration-driven Process Improvement 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 Frustration-driven Process Improvement and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Frustration-driven Process Improvement also places its products in supermarkets and hypermarkets across the country
• A large number of Frustration-driven Process Improvement target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Frustration-driven Process Improvement

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

• Frustration-driven Process Improvement 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 Frustration-driven Process Improvement and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Frustration-driven Process Improvement on high valued purchases
• Frequent usage and purchase of products by Frustration-driven Process Improvement also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Frustration-driven Process Improvement also places an essential focus on people development and people building. This is because Frustration-driven Process Improvement realizes the importance of employees in building strong customer relationships. Frustration-driven Process Improvement develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• Frustration-driven Process Improvement employees are the face of the organization
• Frustration-driven Process Improvement are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Frustration-driven Process Improvement 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

• Frustration-driven Process Improvement remains one of the leading players in the industry also because of its focus on succession planning
• Frustration-driven Process Improvement 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 Frustration-driven Process Improvement
• Strategic succession planning has allowed Frustration-driven Process Improvement to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Frustration-driven Process Improvement has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Frustration-driven Process Improvement are clearly defined and communicated to the employees
• Frustration-driven Process Improvement 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 Frustration-driven Process Improvement

2.6.2. People Management

• Frustration-driven Process Improvement has also defined clear processes for people management through streamlining its human resource management department
• Frustration-driven Process Improvement 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 Frustration-driven Process Improvement to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Frustration-driven Process Improvement 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

• Frustration-driven Process Improvement 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 Frustration-driven Process Improvement 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 Frustration-driven Process Improvement as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Frustration-driven Process Improvement include:

2.7.1. Store atmosphere

• The store design and management for Frustration-driven Process Improvement 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 Frustration-driven Process Improvement at ease
• The store design is also important for Frustration-driven Process Improvement 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 Frustration-driven Process Improvement 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

• Frustration-driven Process Improvement has unique packaging, which is different from other players in the industry
• Frustration-driven Process Improvement 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 Frustration-driven Process Improvement
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Frustration-driven Process Improvement

2.7.3. Website design

• The website design is simple and easy to use
• Frustration-driven Process Improvement has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Frustration-driven Process Improvement 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