Marketing Mix Of IBM Ireland Reinventing Education Crosses the Atlantic

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 IBM Ireland Reinventing Education Crosses the Atlantic

IBM Ireland Reinventing Education Crosses the Atlantic makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix IBM Ireland Reinventing Education Crosses the Atlantic is presented below:

2.1. Product

Product is one of the most important components of the IBM Ireland Reinventing Education Crosses the Atlantic Marketing mix. The distinctive characteristics of the product by IBM Ireland Reinventing Education Crosses the Atlantic are:

2.1.1. Quality

• IBM Ireland Reinventing Education Crosses the Atlantic maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• IBM Ireland Reinventing Education Crosses the Atlantic 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 IBM Ireland Reinventing Education Crosses the Atlantic with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by IBM Ireland Reinventing Education Crosses the Atlantic 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

• IBM Ireland Reinventing Education Crosses the Atlantic has a broad portfolio of products
• The broad portfolio helps IBM Ireland Reinventing Education Crosses the Atlantic in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to IBM Ireland Reinventing Education Crosses the Atlantic
• The broader product portfolio also adds more value for IBM Ireland Reinventing Education Crosses the Atlantic

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

IBM Ireland Reinventing Education Crosses the Atlantic 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 IBM Ireland Reinventing Education Crosses the Atlantic in all markets
• Company-operated stores give IBM Ireland Reinventing Education Crosses the Atlantic higher control over operations as well as store layout and design
• IBM Ireland Reinventing Education Crosses the Atlantic 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 IBM Ireland Reinventing Education Crosses the Atlantic in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• IBM Ireland Reinventing Education Crosses the Atlantic has developed a successfully operational website for online order placement and order tracking
• IBM Ireland Reinventing Education Crosses the Atlantic 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 IBM Ireland Reinventing Education Crosses the Atlantic and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• IBM Ireland Reinventing Education Crosses the Atlantic also places its products in supermarkets and hypermarkets across the country
• A large number of IBM Ireland Reinventing Education Crosses the Atlantic target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for IBM Ireland Reinventing Education Crosses the Atlantic

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

• IBM Ireland Reinventing Education Crosses the Atlantic 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 IBM Ireland Reinventing Education Crosses the Atlantic and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by IBM Ireland Reinventing Education Crosses the Atlantic on high valued purchases
• Frequent usage and purchase of products by IBM Ireland Reinventing Education Crosses the Atlantic also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of IBM Ireland Reinventing Education Crosses the Atlantic also places an essential focus on people development and people building. This is because IBM Ireland Reinventing Education Crosses the Atlantic realizes the importance of employees in building strong customer relationships. IBM Ireland Reinventing Education Crosses the Atlantic develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• IBM Ireland Reinventing Education Crosses the Atlantic employees are the face of the organization
• IBM Ireland Reinventing Education Crosses the Atlantic are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that IBM Ireland Reinventing Education Crosses the Atlantic 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

• IBM Ireland Reinventing Education Crosses the Atlantic remains one of the leading players in the industry also because of its focus on succession planning
• IBM Ireland Reinventing Education Crosses the Atlantic 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 IBM Ireland Reinventing Education Crosses the Atlantic
• Strategic succession planning has allowed IBM Ireland Reinventing Education Crosses the Atlantic to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

IBM Ireland Reinventing Education Crosses the Atlantic has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at IBM Ireland Reinventing Education Crosses the Atlantic are clearly defined and communicated to the employees
• IBM Ireland Reinventing Education Crosses the Atlantic 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 IBM Ireland Reinventing Education Crosses the Atlantic

2.6.2. People Management

• IBM Ireland Reinventing Education Crosses the Atlantic has also defined clear processes for people management through streamlining its human resource management department
• IBM Ireland Reinventing Education Crosses the Atlantic 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 IBM Ireland Reinventing Education Crosses the Atlantic to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• IBM Ireland Reinventing Education Crosses the Atlantic 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

• IBM Ireland Reinventing Education Crosses the Atlantic 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 IBM Ireland Reinventing Education Crosses the Atlantic 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 IBM Ireland Reinventing Education Crosses the Atlantic as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for IBM Ireland Reinventing Education Crosses the Atlantic include:

2.7.1. Store atmosphere

• The store design and management for IBM Ireland Reinventing Education Crosses the Atlantic 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 IBM Ireland Reinventing Education Crosses the Atlantic at ease
• The store design is also important for IBM Ireland Reinventing Education Crosses the Atlantic 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 IBM Ireland Reinventing Education Crosses the Atlantic 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

• IBM Ireland Reinventing Education Crosses the Atlantic has unique packaging, which is different from other players in the industry
• IBM Ireland Reinventing Education Crosses the Atlantic 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 IBM Ireland Reinventing Education Crosses the Atlantic
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by IBM Ireland Reinventing Education Crosses the Atlantic

2.7.3. Website design

• The website design is simple and easy to use
• IBM Ireland Reinventing Education Crosses the Atlantic has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of IBM Ireland Reinventing Education Crosses the Atlantic 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