Marketing Mix Of Giro Sport Design A

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 Giro Sport Design A

Giro Sport Design A makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Giro Sport Design A is presented below:

2.1. Product

Product is one of the most important components of the Giro Sport Design A Marketing mix. The distinctive characteristics of the product by Giro Sport Design A are:

2.1.1. Quality

• Giro Sport Design A maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Giro Sport Design A 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 Giro Sport Design A with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Giro Sport Design A 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

• Giro Sport Design A has a broad portfolio of products
• The broad portfolio helps Giro Sport Design A in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Giro Sport Design A
• The broader product portfolio also adds more value for Giro Sport Design A

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

Giro Sport Design A 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 Giro Sport Design A in all markets
• Company-operated stores give Giro Sport Design A higher control over operations as well as store layout and design
• Giro Sport Design A 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 Giro Sport Design A in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Giro Sport Design A has developed a successfully operational website for online order placement and order tracking
• Giro Sport Design A 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 Giro Sport Design A and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Giro Sport Design A also places its products in supermarkets and hypermarkets across the country
• A large number of Giro Sport Design A target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Giro Sport Design A

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

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

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Giro Sport Design A also places an essential focus on people development and people building. This is because Giro Sport Design A realizes the importance of employees in building strong customer relationships. Giro Sport Design A develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• Giro Sport Design A employees are the face of the organization
• Giro Sport Design A are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Giro Sport Design A 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

• Giro Sport Design A remains one of the leading players in the industry also because of its focus on succession planning
• Giro Sport Design A 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 Giro Sport Design A
• Strategic succession planning has allowed Giro Sport Design A to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Giro Sport Design A has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Giro Sport Design A are clearly defined and communicated to the employees
• Giro Sport Design A 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 Giro Sport Design A

2.6.2. People Management

• Giro Sport Design A has also defined clear processes for people management through streamlining its human resource management department
• Giro Sport Design A 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 Giro Sport Design A to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Giro Sport Design A 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

• Giro Sport Design A 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 Giro Sport Design A 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 Giro Sport Design A as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Giro Sport Design A include:

2.7.1. Store atmosphere

• The store design and management for Giro Sport Design A 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 Giro Sport Design A at ease
• The store design is also important for Giro Sport Design A 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 Giro Sport Design A 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

• Giro Sport Design A has unique packaging, which is different from other players in the industry
• Giro Sport Design A 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 Giro Sport Design A
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Giro Sport Design A

2.7.3. Website design

• The website design is simple and easy to use
• Giro Sport Design A has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Giro Sport Design A 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