Marketing Mix Of Garrard Japan Global or Local

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 Garrard Japan Global or Local

Garrard Japan Global or Local makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Garrard Japan Global or Local is presented below:

2.1. Product

Product is one of the most important components of the Garrard Japan Global or Local Marketing mix. The distinctive characteristics of the product by Garrard Japan Global or Local are:

2.1.1. Quality

• Garrard Japan Global or Local maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Garrard Japan Global or Local 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 Garrard Japan Global or Local with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Garrard Japan Global or Local 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

• Garrard Japan Global or Local has a broad portfolio of products
• The broad portfolio helps Garrard Japan Global or Local in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Garrard Japan Global or Local
• The broader product portfolio also adds more value for Garrard Japan Global or Local

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

Garrard Japan Global or Local 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 Garrard Japan Global or Local in all markets
• Company-operated stores give Garrard Japan Global or Local higher control over operations as well as store layout and design
• Garrard Japan Global or Local 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 Garrard Japan Global or Local in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Garrard Japan Global or Local has developed a successfully operational website for online order placement and order tracking
• Garrard Japan Global or Local 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 Garrard Japan Global or Local and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Garrard Japan Global or Local also places its products in supermarkets and hypermarkets across the country
• A large number of Garrard Japan Global or Local target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Garrard Japan Global or Local

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

• Garrard Japan Global or Local 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 Garrard Japan Global or Local and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Garrard Japan Global or Local on high valued purchases
• Frequent usage and purchase of products by Garrard Japan Global or Local also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Garrard Japan Global or Local also places an essential focus on people development and people building. This is because Garrard Japan Global or Local realizes the importance of employees in building strong customer relationships. Garrard Japan Global or Local develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• Garrard Japan Global or Local employees are the face of the organization
• Garrard Japan Global or Local are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Garrard Japan Global or Local 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

• Garrard Japan Global or Local remains one of the leading players in the industry also because of its focus on succession planning
• Garrard Japan Global or Local 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 Garrard Japan Global or Local
• Strategic succession planning has allowed Garrard Japan Global or Local to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Garrard Japan Global or Local has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Garrard Japan Global or Local are clearly defined and communicated to the employees
• Garrard Japan Global or Local 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 Garrard Japan Global or Local

2.6.2. People Management

• Garrard Japan Global or Local has also defined clear processes for people management through streamlining its human resource management department
• Garrard Japan Global or Local 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 Garrard Japan Global or Local to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Garrard Japan Global or Local 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

• Garrard Japan Global or Local 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 Garrard Japan Global or Local 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 Garrard Japan Global or Local as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Garrard Japan Global or Local include:

2.7.1. Store atmosphere

• The store design and management for Garrard Japan Global or Local 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 Garrard Japan Global or Local at ease
• The store design is also important for Garrard Japan Global or Local 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 Garrard Japan Global or Local 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

• Garrard Japan Global or Local has unique packaging, which is different from other players in the industry
• Garrard Japan Global or Local 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 Garrard Japan Global or Local
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Garrard Japan Global or Local

2.7.3. Website design

• The website design is simple and easy to use
• Garrard Japan Global or Local has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Garrard Japan Global or Local 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