Marketing Mix Of Graham s Pharmacy Traditional Care Modern Solutions

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 Graham s Pharmacy Traditional Care Modern Solutions

Graham s Pharmacy Traditional Care Modern Solutions makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Graham s Pharmacy Traditional Care Modern Solutions is presented below:

2.1. Product

Product is one of the most important components of the Graham s Pharmacy Traditional Care Modern Solutions Marketing mix. The distinctive characteristics of the product by Graham s Pharmacy Traditional Care Modern Solutions are:

2.1.1. Quality

• Graham s Pharmacy Traditional Care Modern Solutions maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Graham s Pharmacy Traditional Care Modern Solutions 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 Graham s Pharmacy Traditional Care Modern Solutions with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Graham s Pharmacy Traditional Care Modern Solutions 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

• Graham s Pharmacy Traditional Care Modern Solutions has a broad portfolio of products
• The broad portfolio helps Graham s Pharmacy Traditional Care Modern Solutions in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Graham s Pharmacy Traditional Care Modern Solutions
• The broader product portfolio also adds more value for Graham s Pharmacy Traditional Care Modern Solutions

2.1.4. Benefits of product consumption

• Graham s Pharmacy Traditional Care Modern Solutions 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 Graham s Pharmacy Traditional Care Modern Solutions is its delivery of emotional benefits to the consumer
• Products manufactured and sold by Graham s Pharmacy Traditional Care Modern Solutions promise consumers an ego boost, confidence, and security
• Graham s Pharmacy Traditional Care Modern Solutions 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 Graham s Pharmacy Traditional Care Modern Solutions are available in different sizes
• Graham s Pharmacy Traditional Care Modern Solutions 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, Graham s Pharmacy Traditional Care Modern Solutions has also increased the trial rate
• Different SKUs have also helped Graham s Pharmacy Traditional Care Modern Solutions improve its product accessibility

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

Graham s Pharmacy Traditional Care Modern Solutions 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 Graham s Pharmacy Traditional Care Modern Solutions in all markets
• Company-operated stores give Graham s Pharmacy Traditional Care Modern Solutions higher control over operations as well as store layout and design
• Graham s Pharmacy Traditional Care Modern Solutions 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 Graham s Pharmacy Traditional Care Modern Solutions in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Graham s Pharmacy Traditional Care Modern Solutions has developed a successfully operational website for online order placement and order tracking
• Graham s Pharmacy Traditional Care Modern Solutions 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 Graham s Pharmacy Traditional Care Modern Solutions and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Graham s Pharmacy Traditional Care Modern Solutions also places its products in supermarkets and hypermarkets across the country
• A large number of Graham s Pharmacy Traditional Care Modern Solutions target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Graham s Pharmacy Traditional Care Modern Solutions

2.3.5. Partner agents

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

2.4.1. Digital marketing

• Graham s Pharmacy Traditional Care Modern Solutions has corporate profiles on all social media websites and portals
• Graham s Pharmacy Traditional Care Modern Solutions uses its social media presence to directly, engage with consumers
• This direct engagement and interaction allows Graham s Pharmacy Traditional Care Modern Solutions to understand the customers, their needs and demands
• Graham s Pharmacy Traditional Care Modern Solutions uses this feedback and incorporates it in its broader marketing and organizational strategy
• Graham s Pharmacy Traditional Care Modern Solutions 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

• Graham s Pharmacy Traditional Care Modern Solutions 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 Graham s Pharmacy Traditional Care Modern Solutions and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Graham s Pharmacy Traditional Care Modern Solutions on high valued purchases
• Frequent usage and purchase of products by Graham s Pharmacy Traditional Care Modern Solutions also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Graham s Pharmacy Traditional Care Modern Solutions also places an essential focus on people development and people building. This is because Graham s Pharmacy Traditional Care Modern Solutions realizes the importance of employees in building strong customer relationships. Graham s Pharmacy Traditional Care Modern Solutions develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• Graham s Pharmacy Traditional Care Modern Solutions employees are the face of the organization
• Graham s Pharmacy Traditional Care Modern Solutions are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Graham s Pharmacy Traditional Care Modern Solutions 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

• Graham s Pharmacy Traditional Care Modern Solutions remains one of the leading players in the industry also because of its focus on succession planning
• Graham s Pharmacy Traditional Care Modern Solutions 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 Graham s Pharmacy Traditional Care Modern Solutions
• Strategic succession planning has allowed Graham s Pharmacy Traditional Care Modern Solutions to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Graham s Pharmacy Traditional Care Modern Solutions has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Graham s Pharmacy Traditional Care Modern Solutions are clearly defined and communicated to the employees
• Graham s Pharmacy Traditional Care Modern Solutions 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 Graham s Pharmacy Traditional Care Modern Solutions

2.6.2. People Management

• Graham s Pharmacy Traditional Care Modern Solutions has also defined clear processes for people management through streamlining its human resource management department
• Graham s Pharmacy Traditional Care Modern Solutions 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 Graham s Pharmacy Traditional Care Modern Solutions to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Graham s Pharmacy Traditional Care Modern Solutions 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

• Graham s Pharmacy Traditional Care Modern Solutions 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 Graham s Pharmacy Traditional Care Modern Solutions 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 Graham s Pharmacy Traditional Care Modern Solutions as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Graham s Pharmacy Traditional Care Modern Solutions include:

2.7.1. Store atmosphere

• The store design and management for Graham s Pharmacy Traditional Care Modern Solutions 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 Graham s Pharmacy Traditional Care Modern Solutions at ease
• The store design is also important for Graham s Pharmacy Traditional Care Modern Solutions 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 Graham s Pharmacy Traditional Care Modern Solutions 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

• Graham s Pharmacy Traditional Care Modern Solutions has unique packaging, which is different from other players in the industry
• Graham s Pharmacy Traditional Care Modern Solutions 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 Graham s Pharmacy Traditional Care Modern Solutions
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Graham s Pharmacy Traditional Care Modern Solutions

2.7.3. Website design

• The website design is simple and easy to use
• Graham s Pharmacy Traditional Care Modern Solutions has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Graham s Pharmacy Traditional Care Modern Solutions 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